BMO Capital Markets Cuts Cott Corp. (COT) Price Target to $18.00
Cott Corp. (NYSE:COT) had its target price reduced by equities research analysts at BMO Capital Markets to $18.00 in a research report issued on Monday. BMO Capital Markets’ price objective would suggest a potential upside of 33.63% from the company’s previous close.
COT has been the subject of several other reports. Credit Suisse Group AG set a $19.00 price target on Cott Corp. and gave the stock a “buy” rating in a research report on Friday, August 19th. Royal Bank Of Canada reiterated an “outperform” rating and set a $20.00 price target on shares of Cott Corp. in a research report on Friday, August 5th. Deutsche Bank AG boosted their price target on Cott Corp. from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. Stifel Nicolaus upgraded Cott Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, August 4th. Finally, Jefferies Group reiterated a “hold” rating on shares of Cott Corp. in a research report on Wednesday, August 10th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $17.73.
Shares of Cott Corp. (NYSE:COT) traded down 0.74% during mid-day trading on Monday, reaching $13.38. The company had a trading volume of 451,353 shares. The company has a market capitalization of $1.84 billion, a PE ratio of 352.11 and a beta of 0.59. Cott Corp. has a 1-year low of $8.96 and a 1-year high of $17.38. The stock’s 50-day moving average price is $14.85 and its 200 day moving average price is $14.76.
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Cott Corp. (NYSE:COT) last announced its earnings results on Thursday, August 4th. The company reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by $0.02. The business had revenue of $765 million for the quarter, compared to analyst estimates of $766.83 million. Cott Corp. had a return on equity of 4.53% and a net margin of 0.20%. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.18 earnings per share. Equities analysts expect that Cott Corp. will post $0.24 EPS for the current year.
In related news, CEO Jeremy S. G. Fowden sold 148,515 shares of the stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $17.09, for a total transaction of $2,538,121.35. Following the transaction, the chief executive officer now owns 892,500 shares of the company’s stock, valued at approximately $15,252,825. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Eric Rosenfeld sold 19,582 shares of the stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $17.07, for a total value of $334,264.74. Following the transaction, the director now directly owns 390,065 shares in the company, valued at approximately $6,658,409.55. The disclosure for this sale can be found here. Insiders own 2.19% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Walleye Trading LLC raised its position in Cott Corp. by 203.8% in the second quarter. Walleye Trading LLC now owns 7,900 shares of the company’s stock valued at $110,000 after buying an additional 5,300 shares during the last quarter. Capital Fund Management S.A. purchased a new position in Cott Corp. during the second quarter valued at about $142,000. Massachusetts Financial Services Co. MA raised its position in Cott Corp. by 4.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 10,514 shares of the company’s stock valued at $147,000 after buying an additional 450 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in Cott Corp. during the third quarter valued at about $165,000. Finally, Advisor Group Inc. purchased a new position in Cott Corp. during the second quarter valued at about $174,000.
Cott Corp. Company Profile
Cott Corporation, along with its subsidiaries, is engaged in production of beverages on behalf of retailers, brand owners and distributors. The Company operates through four segments: DSS; Cott North America; Cott United Kingdom (Cott U.K.), and All Other, which includes its Mexico segment, Royal Crown International (RCI) segment and other miscellaneous expenses.
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