SCP Investment LP raised its stake in shares of Cott Corp (NYSE:COT) (TSE:BCB) by 1.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 590,000 shares of the company’s stock after acquiring an additional 10,000 shares during the quarter. Cott comprises 4.4% of SCP Investment LP’s portfolio, making the stock its 8th biggest holding. SCP Investment LP’s holdings in Cott were worth $7,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in shares of Cott by 22.1% in the first quarter. JPMorgan Chase & Co. now owns 3,436,177 shares of the company’s stock valued at $50,202,000 after purchasing an additional 621,433 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Cott by 13.6% in the first quarter. Wells Fargo & Company MN now owns 2,522,787 shares of the company’s stock valued at $36,858,000 after purchasing an additional 301,795 shares during the last quarter. Cidel Asset Management Inc. grew its position in shares of Cott by 41.2% in the first quarter. Cidel Asset Management Inc. now owns 1,849,620 shares of the company’s stock valued at $26,998,000 after purchasing an additional 540,118 shares during the last quarter. Eagle Asset Management Inc. grew its position in shares of Cott by 2.2% in the first quarter. Eagle Asset Management Inc. now owns 845,806 shares of the company’s stock valued at $12,357,000 after purchasing an additional 18,094 shares during the last quarter. Finally, Hilton Capital Management LLC acquired a new stake in shares of Cott in the first quarter valued at about $9,597,000.
Several equities research analysts have recently issued reports on COT shares. Zacks Investment Research downgraded Cott from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $20.00 price target on shares of Cott in a research report on Friday, August 9th. TD Securities raised their price target on Cott from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Citigroup set a $17.00 price target on Cott and gave the company a “buy” rating in a research report on Friday, May 3rd. Finally, Goldman Sachs Group raised Cott from a “neutral” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. Cott presently has an average rating of “Buy” and a consensus target price of $18.71.
Cott (NYSE:COT) (TSE:BCB) last released its earnings results on Thursday, August 8th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). Cott had a negative return on equity of 0.27% and a negative net margin of 0.19%. The firm had revenue of $604.10 million for the quarter, compared to analyst estimates of $608.80 million. During the same period last year, the business earned $0.09 earnings per share. The firm’s quarterly revenue was up .1% compared to the same quarter last year. Equities analysts predict that Cott Corp will post 0.34 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Tuesday, August 20th. Cott’s dividend payout ratio (DPR) is presently 150.00%.
In other news, Director Eric Rosenfeld bought 80,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $12.38 per share, with a total value of $990,400.00. Following the completion of the transaction, the director now directly owns 415,478 shares in the company, valued at $5,143,617.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.99% of the stock is owned by company insiders.
Cott Corporation, together with its subsidiaries, operates as a route based service company in the United States, the United Kingdom, Canada, and internationally. The company operates in three segments: Route Based Services; Coffee, Tea and Extract Solutions; and All Other. Its 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, and beverage concentrates, as well as premium spring, sparkling and flavored, and mineral water.
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