Cott Corp’s (COT) “Hold” Rating Reaffirmed at Jefferies Group LLC
Cott Corp (NYSE:COT) (TSE:BCB)‘s stock had its “hold” rating reissued by stock analysts at Jefferies Group LLC in a report released on Friday. They currently have a $13.50 price target on the stock. Jefferies Group LLC’s price target would suggest a potential upside of 3.53% from the stock’s previous close.
A number of other research analysts have also commented on COT. Zacks Investment Research lowered shares of Cott Corp from a “buy” rating to a “hold” rating in a research note on Monday, May 8th. Royal Bank of Canada restated an “outperform” rating and issued a $20.00 price objective on shares of Cott Corp in a research note on Monday, February 27th. Finally, Canaccord Genuity restated a “buy” rating and issued a $21.00 price objective on shares of Cott Corp in a research note on Tuesday, February 7th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $17.14.
Shares of Cott Corp (NYSE:COT) opened at 13.04 on Friday. Cott Corp has a 1-year low of $10.10 and a 1-year high of $17.38. The stock’s market capitalization is $1.81 billion. The stock’s 50 day moving average is $12.73 and its 200 day moving average is $11.77.
Cott Corp (NYSE:COT) last posted its quarterly earnings data on Thursday, May 4th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by $0.04. The business had revenue of $896.40 million during the quarter, compared to analyst estimates of $909.19 million. Cott Corp had a negative net margin of 0.09% and a positive return on equity of 4.41%. The company’s revenue for the quarter was up 28.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. On average, equities analysts forecast that Cott Corp will post $0.16 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 14th. Stockholders of record on Friday, June 2nd will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.84%. This is a positive change from Cott Corp’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Wednesday, May 31st. Cott Corp’s payout ratio is -600.00%.
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In other news, CEO Thomas Harrington purchased 46,100 shares of the company’s stock in a transaction dated Monday, March 6th. The shares were acquired at an average cost of $10.99 per share, for a total transaction of $506,639.00. Following the completion of the purchase, the chief executive officer now directly owns 43,953 shares in the company, valued at approximately $483,043.47. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eric Rosenfeld purchased 125,000 shares of the company’s stock in a transaction dated Wednesday, March 1st. The shares were purchased at an average price of $10.60 per share, for a total transaction of $1,325,000.00. Following the completion of the purchase, the director now owns 390,065 shares of the company’s stock, valued at $4,134,689. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 192,570 shares of company stock worth $2,059,802. Company insiders own 2.19% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of COT. Walleye Trading LLC raised its position in shares of Cott Corp by 203.8% in the second quarter. Walleye Trading LLC now owns 7,900 shares of the company’s stock worth $110,000 after buying an additional 5,300 shares during the period. Acrospire Investment Management LLC raised its position in shares of Cott Corp by 46.8% in the third quarter. Acrospire Investment Management LLC now owns 8,159 shares of the company’s stock worth $116,000 after buying an additional 2,600 shares during the period. Legal & General Group Plc raised its position in shares of Cott Corp by 61.1% in the first quarter. Legal & General Group Plc now owns 8,702 shares of the company’s stock worth $121,000 after buying an additional 3,300 shares during the period. Capital Fund Management S.A. purchased a new position in shares of Cott Corp during the second quarter worth about $142,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of Cott Corp during the third quarter worth about $165,000. Institutional investors and hedge funds own 0.18% of the company’s stock.
About Cott Corp
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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