Garnet Equity Capital Holdings Inc. raised its position in shares of Cott Corp (NYSE:COT) (TSE:BCB) by 71.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 240,000 shares of the company’s stock after purchasing an additional 100,000 shares during the quarter. Cott accounts for about 2.8% of Garnet Equity Capital Holdings Inc.’s investment portfolio, making the stock its 14th largest position. Garnet Equity Capital Holdings Inc. owned approximately 0.17% of Cott worth $3,876,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of COT. Bank of New York Mellon Corp lifted its holdings in shares of Cott by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 134,836 shares of the company’s stock worth $2,231,000 after buying an additional 3,880 shares in the last quarter. Verition Fund Management LLC lifted its holdings in shares of Cott by 67.8% in the second quarter. Verition Fund Management LLC now owns 18,120 shares of the company’s stock worth $300,000 after buying an additional 7,320 shares in the last quarter. GMT Capital Corp purchased a new position in shares of Cott in the second quarter worth $9,495,000. SCP Investment LP lifted its holdings in shares of Cott by 33.3% in the second quarter. SCP Investment LP now owns 400,000 shares of the company’s stock worth $6,620,000 after buying an additional 100,000 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Cott by 4.9% in the second quarter. Bank of America Corp DE now owns 427,886 shares of the company’s stock worth $7,081,000 after buying an additional 19,849 shares in the last quarter.
COT traded up $0.44 during trading hours on Friday, hitting $14.85. The company’s stock had a trading volume of 110,135 shares, compared to its average volume of 895,355. Cott Corp has a 12 month low of $14.06 and a 12 month high of $17.77. The stock has a market capitalization of $2.24 billion, a PE ratio of 209.14 and a beta of 0.79. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.16 and a current ratio of 1.49.
Cott (NYSE:COT) (TSE:BCB) last announced its quarterly earnings results on Thursday, August 2nd. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). Cott had a return on equity of 1.92% and a net margin of 18.64%. The business had revenue of $604.00 million during the quarter, compared to the consensus estimate of $604.32 million. During the same quarter in the prior year, the firm posted $0.06 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, research analysts forecast that Cott Corp will post 0.25 earnings per share for the current year.
In related news, Director Stephen Halperin sold 34,131 shares of the business’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $16.12, for a total value of $550,191.72. Following the sale, the director now owns 100,000 shares in the company, valued at $1,612,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas Harrington purchased 6,393 shares of Cott stock in a transaction that occurred on Monday, August 6th. The stock was acquired at an average price of $15.64 per share, for a total transaction of $99,986.52. Following the transaction, the chief executive officer now directly owns 59,067 shares of the company’s stock, valued at approximately $923,807.88. The disclosure for this purchase can be found here. Insiders own 3.02% of the company’s stock.
Several research firms have recently commented on COT. Zacks Investment Research raised shares of Cott from a “sell” rating to a “hold” rating in a report on Tuesday, July 17th. Jefferies Financial Group reissued a “buy” rating and issued a $21.00 target price on shares of Cott in a report on Wednesday, June 20th. Finally, TD Securities began coverage on shares of Cott in a report on Friday, August 17th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Cott currently has a consensus rating of “Buy” and a consensus target price of $18.79.
Cott Corporation, together with its subsidiaries, operates as a route based service company in North America and Europe. It operates in three segments: Route Based Services; Coffee, Tea and Extract Solutions; and All Other. The company's product portfolio includes bottled water, coffee, brewed tea, water dispensers, coffee and tea brewers, specialty coffee, liquid coffee or tea concentrate, single cup coffee, cold brewed coffee, iced blend coffee or tea beverages, blended teas, hot tea, sparkling tea, coffee or tea extract solutions, filtration equipment, hot chocolate, soups, malt drinks, creamers/whiteners, cereals, beverage concentrates, and mineral water.
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