Cott Corporation (COT) Raised to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Cott Corporation (NYSE:COT) (TSE:BCB) from a strong sell rating to a hold rating in a research note issued to investors on Tuesday.
According to Zacks, “Cott Corporation is one of the world’s largest non-alcoholic beverage companies and the world’s largest retailer brand soft drink provider. The Company commercializes its business in over Sixty countries worldwide, with its principal markets being the United States, Canada, the United Kingdom and Mexico. Cott markets or supplies over two hundred retailer and licensed brands, and Company-owned brands including Cott, RC, Vintage, Vess and So Clear. Its products include carbonated soft drinks, sparkling and flavored waters, energy drinks, sports drinks, juices, juice drinks and smoothies, ready-to-drink teas, and other non-carbonated beverages. “
Several other equities research analysts have also weighed in on the company. Royal Bank Of Canada restated a buy rating and set a $20.00 price target on shares of Cott Corporation in a research report on Friday, September 15th. BMO Capital Markets restated an outperform rating on shares of Cott Corporation in a research report on Tuesday, September 12th. ValuEngine upgraded Cott Corporation from a sell rating to a hold rating in a research report on Friday, September 1st. Stifel Nicolaus restated a hold rating and set a $12.00 price target on shares of Cott Corporation in a research report on Tuesday, July 25th. Finally, Jefferies Group LLC lifted their price target on Cott Corporation from $14.00 to $14.25 and gave the company a hold rating in a research report on Thursday, July 6th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $17.04.
Shares of Cott Corporation (COT) traded up 0.32% during trading on Tuesday, hitting $15.49. The stock had a trading volume of 320,752 shares. The stock’s market capitalization is $2.15 billion. The firm has a 50 day moving average price of $15.21 and a 200-day moving average price of $14.11. Cott Corporation has a 52 week low of $10.10 and a 52 week high of $16.18.
Cott Corporation (NYSE:COT) (TSE:BCB) last released its quarterly earnings results 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 negative net margin of 3.88% and a positive return on equity of 0.54%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $984.75 million. During the same quarter in the prior year, the firm earned $0.15 earnings per share. The company’s revenue for the quarter was up 32.5% compared to the same quarter last year. On average, equities research analysts forecast that Cott Corporation will post ($0.01) EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 6th. Shareholders of record on Wednesday, August 23rd were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date was Monday, August 21st. Cott Corporation’s payout ratio is -23.30%.
In other Cott Corporation news, CAO Jason R. Ausher sold 5,800 shares of Cott Corporation stock in a transaction 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 transaction, the chief accounting officer now owns 20,770 shares in the company, valued at $318,819.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory R. Monahan sold 8,500 shares of Cott Corporation stock in a transaction 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 transaction, the director now owns 115,666 shares of the company’s stock, valued at approximately $1,769,689.80. The disclosure for this sale can be found here. 2.06% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in COT. Swiss National Bank raised its stake in Cott Corporation by 1.6% during the first quarter. Swiss National Bank now owns 230,200 shares of the company’s stock valued at $2,849,000 after buying an additional 3,600 shares during the last quarter. Parametric Portfolio Associates LLC purchased a new position in Cott Corporation during the first quarter valued at $180,000. Oxford Asset Management purchased a new position in Cott Corporation during the first quarter valued at $954,000. JPMorgan Chase & Co. raised its stake in Cott Corporation by 105,156.4% during the first quarter. JPMorgan Chase & Co. now owns 272,614 shares of the company’s stock valued at $3,369,000 after buying an additional 272,355 shares during the last quarter. Finally, Neuberger Berman Group LLC purchased a new position in Cott Corporation during the first quarter valued at $182,000.
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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