Gluskin Sheff & Assoc Inc. Purchases 267,351 Shares of Cott Corp. (COT)
Gluskin Sheff & Assoc Inc. increased its stake in Cott Corp. (NYSE:COT) by 41.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 919,402 shares of the company’s stock after buying an additional 267,351 shares during the period. Gluskin Sheff & Assoc Inc. owned about 0.75% of Cott Corp. worth $12,835,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of COT. 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 last quarter. Capital Fund Management S.A. bought a new stake in shares of Cott Corp. during the second quarter valued at approximately $142,000. Pacad Investment Ltd. bought a new stake in shares of Cott Corp. during the first quarter valued at approximately $235,000. BlackRock Institutional Trust Company N.A. bought a new stake in shares of Cott Corp. during the first quarter valued at approximately $305,000. Finally, M&T Bank Corp bought a new stake in shares of Cott Corp. during the first quarter valued at approximately $435,000.
Shares of Cott Corp. (NYSE:COT) traded up 3.58% on Wednesday, hitting $14.17. 1,079,643 shares of the stock traded hands. Cott Corp. has a 12 month low of $8.96 and a 12 month high of $17.38. The firm’s 50 day moving average is $15.50 and its 200-day moving average is $14.75. The company has a market cap of $1.95 billion, a PE ratio of 372.89 and a beta of 0.59.
Cott Corp. (NYSE:COT) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by $0.02. Cott Corp. had a return on equity of 4.53% and a net margin of 0.20%. The business had revenue of $765 million for the quarter, compared to analysts’ expectations of $766.83 million. During the same quarter in the prior year, the firm earned $0.18 earnings per share. Cott Corp.’s revenue for the quarter was down 1.9% compared to the same quarter last year. Equities analysts predict that Cott Corp. will post $0.24 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 7th. Shareholders of record on Thursday, August 25th were issued a dividend of $0.06 per share. The ex-dividend date was Tuesday, August 23rd. This represents a $0.24 annualized dividend and a yield of 1.75%. Cott Corp.’s dividend payout ratio is presently 800.27%.
Several brokerages recently commented on COT. Credit Suisse Group AG set a $19.00 price target on shares of Cott Corp. and gave the stock a “buy” rating in a report on Friday, August 19th. Canaccord Genuity reissued a “buy” rating and issued a $23.00 price target on shares of Cott Corp. in a report on Friday, August 5th. Jefferies Group boosted their price target on shares of Cott Corp. from $15.50 to $17.50 and gave the stock a “hold” rating in a report on Friday, August 19th. Stifel Nicolaus raised shares of Cott Corp. from a “hold” rating to a “buy” rating in a report on Thursday, August 4th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $20.00 price target on shares of Cott Corp. in a report on Friday, August 5th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Cott Corp. currently has a consensus rating of “Buy” and a consensus target price of $17.70.
In other news, CEO Jeremy S. G. Fowden sold 148,515 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $17.09, for a total value of $2,538,121.35. Following the completion of the sale, the chief executive officer now directly owns 892,500 shares in the company, valued at approximately $15,252,825. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eric Rosenfeld sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $17.00, for a total value of $425,000.00. Following the completion of the sale, the director now owns 465,065 shares of the company’s stock, valued at $7,906,105. The disclosure for this sale can be found here. Company insiders own 2.19% 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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