Cott Corp. (COT) Downgraded to Hold at TheStreet
Cott Corp. (NYSE:COT) was downgraded by research analysts at TheStreet from a “buy” rating to a “hold” rating in a report issued on Monday.
A number of other analysts have also recently issued reports on COT. Barclays PLC raised their target price on shares of Cott Corp. from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 8th. Citigroup Inc. raised their target price on shares of Cott Corp. from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, June 8th. BMO Capital Markets restated a “hold” rating on shares of Cott Corp. in a research note on Wednesday, June 8th. Canaccord Genuity restated a “buy” rating on shares of Cott Corp. in a research note on Wednesday, June 8th. Finally, JPMorgan Chase & Co. started coverage on shares of Cott Corp. in a research note on Thursday, June 9th. They set a “neutral” rating and a $17.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Cott Corp. currently has an average rating of “Buy” and a consensus price target of $17.70.
Shares of Cott Corp. (NYSE:COT) traded down 1.58% during midday trading on Monday, hitting $13.68. 624,366 shares of the company’s stock were exchanged. Cott Corp. has a 52 week low of $8.96 and a 52 week high of $17.38. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 360.00 and a beta of 0.59. The company has a 50-day moving average of $15.50 and a 200-day moving average of $14.75.
Cott Corp. (NYSE:COT) last posted its earnings results on Thursday, August 4th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by $0.02. The company 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 business’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.18 EPS. Equities research analysts expect that Cott Corp. will post $0.24 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 7th. Shareholders of record on Thursday, August 25th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.75%. The ex-dividend date was Tuesday, August 23rd. Cott Corp.’s dividend payout ratio is currently 800.27%.
In related news, Director Eric Rosenfeld sold 25,000 shares of Cott Corp. stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $17.00, for a total transaction of $425,000.00. Following the sale, the director now directly owns 465,065 shares of the company’s stock, valued at approximately $7,906,105. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeremy S. G. Fowden sold 148,515 shares of Cott Corp. stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $17.09, for a total transaction of $2,538,121.35. Following the sale, the chief executive officer now directly owns 892,500 shares in the company, valued at $15,252,825. The disclosure for this sale can be found here. 2.19% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the stock. Walleye Trading LLC raised its stake 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 valued at $110,000 after buying an additional 5,300 shares during the period. Legal & General Group Plc raised its stake 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 valued at $121,000 after buying an additional 3,300 shares during the period. Capital Fund Management S.A. bought a new stake in shares of Cott Corp. during the second quarter valued at about $142,000. Massachusetts Financial Services Co. MA raised its stake in shares of 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 period. Finally, Advisor Group Inc. bought a new stake in shares of Cott Corp. during the second quarter valued at about $174,000.
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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