Royal Bank Of Canada Reaffirms Buy Rating for Cott Corporation (COT)
Royal Bank Of Canada reaffirmed their buy rating on shares of Cott Corporation (NYSE:COT) (TSE:BCB) in a research note issued to investors on Friday morning. Royal Bank Of Canada currently has a $20.00 target price on the stock.
Several other equities analysts have also recently weighed in on the stock. BMO Capital Markets reiterated an outperform rating on shares of Cott Corporation in a research note on Tuesday, September 12th. ValuEngine upgraded shares of Cott Corporation from a sell rating to a hold rating in a research note on Friday, September 1st. Stifel Nicolaus reiterated a hold rating and issued a $12.00 price objective on shares of Cott Corporation in a research note on Tuesday, July 25th. Finally, Jefferies Group LLC increased their price objective on shares of Cott Corporation from $14.00 to $14.25 and gave the stock a hold rating in a research note on Thursday, July 6th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Cott Corporation has an average rating of Hold and a consensus price target of $16.75.
Cott Corporation (NYSE COT) opened at 15.29 on Friday. The stock has a 50 day moving average of $15.40 and a 200 day moving average of $13.75. The stock’s market cap is $2.13 billion. Cott Corporation has a 1-year low of $10.10 and a 1-year high of $16.18.
Cott Corporation (NYSE:COT) (TSE:BCB) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.10). Cott Corporation had a positive return on equity of 0.54% and a negative net margin of 3.88%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $984.75 million. During the same quarter last year, the company earned $0.15 EPS. Cott Corporation’s revenue for the quarter was up 32.5% on a year-over-year basis. Equities analysts anticipate that Cott Corporation will post ($0.01) EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Wednesday, September 6th. Investors of record on Wednesday, August 23rd were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.57%. The ex-dividend date was Monday, August 21st. Cott Corporation’s dividend payout ratio is -23.30%.
In related news, Director Gregory R. Monahan sold 8,500 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $15.30, for a total value of $130,050.00. Following the completion of the sale, the director now directly owns 115,666 shares of the company’s stock, valued at approximately $1,769,689.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jason R. Ausher sold 5,800 shares of the stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $15.35, for a total transaction of $89,030.00. Following the completion of the sale, the chief accounting officer now directly owns 20,770 shares of the company’s stock, valued at $318,819.50. The disclosure for this sale can be found here. Corporate insiders own 2.06% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Clearbridge Investments LLC purchased a new stake in Cott Corporation in the 1st quarter worth approximately $2,329,000. Kings Point Capital Management purchased a new stake in Cott Corporation in the 1st quarter worth approximately $570,000. Vivaldi Capital Management LLC purchased a new stake in Cott Corporation in the 1st quarter worth approximately $5,512,029,000. MARSHALL WACE ASIA Ltd purchased a new stake in Cott Corporation in the 1st quarter worth approximately $265,000. Finally, Marshall Wace North America L.P. purchased a new stake in Cott Corporation in the 1st quarter worth approximately $265,000.
About Cott Corporation
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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