Garnet Equity Capital Holdings Inc. acquired a new stake in shares of Cott Corp (NYSE:COT) (TSE:BCB) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 247,500 shares of the company’s stock, valued at approximately $4,123,000. Cott comprises 3.3% of Garnet Equity Capital Holdings Inc.’s investment portfolio, making the stock its 12th largest holding. Garnet Equity Capital Holdings Inc. owned approximately 0.18% of Cott at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Virtu Financial LLC purchased a new stake in shares of Cott during the 4th quarter valued at $173,000. Brown Advisory Inc. acquired a new position in shares of Cott in the 4th quarter valued at $214,000. Investors Research Corp acquired a new position in shares of Cott in the 4th quarter valued at $338,000. Cubist Systematic Strategies LLC increased its position in shares of Cott by 38.0% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 20,805 shares of the company’s stock valued at $312,000 after acquiring an additional 5,731 shares during the period. Finally, Capital Fund Management S.A. acquired a new position in shares of Cott in the 4th quarter valued at $596,000.
COT has been the topic of several research reports. Scotiabank set a $18.50 target price on Cott and gave the company a “sector perform” rating in a research report on Tuesday, January 16th. BMO Capital Markets reissued an “outperform” rating and issued a $19.00 target price (up from $18.00) on shares of Cott in a research report on Friday, March 2nd. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $17.25.
Cott (NYSE:COT) (TSE:BCB) last released its earnings results on Thursday, March 1st. The company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. Cott had a positive return on equity of 0.23% and a negative net margin of 0.05%. The firm had revenue of $571.30 million for the quarter, compared to the consensus estimate of $617.21 million. During the same period in the prior year, the firm earned $0.01 EPS. The firm’s revenue was up 9.6% on a year-over-year basis. research analysts predict that Cott Corp will post 0.24 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Tuesday, March 13th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.52%. The ex-dividend date is Monday, March 12th. Cott’s dividend payout ratio is currently -1,200.00%.
In other Cott news, insider Jason R. Ausher sold 5,000 shares of the stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $15.69, for a total transaction of $78,450.00. Following the sale, the insider now directly owns 19,681 shares of the company’s stock, valued at approximately $308,794.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jay Wells sold 35,000 shares of the stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $15.92, for a total value of $557,200.00. Following the sale, the chief financial officer now directly owns 114,257 shares in the company, valued at $1,818,971.44. The disclosure for this sale can be found here. Insiders have sold a total of 70,000 shares of company stock worth $1,110,850 over the last ninety days. 2.06% of the stock is owned by insiders.
Cott Company Profile
Cott Corp is a Canada-based company, which along with its subsidiaries, is engaged in production of beverages on behalf of retailers, brand owners and distributors. The Company operates through five operating segments: Water & Coffee Solutions; Cott North America; Cott United Kingdom (Cott U.K.), Royal Crown International (RCI) and Mexico.
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