Levin Capital Strategies L.P. Grows Stake in Cott Corp (COT)
Levin Capital Strategies L.P. increased its position in shares of Cott Corp (NYSE:COT) (TSE:BCB) by 52.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,551,866 shares of the company’s stock after purchasing an additional 1,564,414 shares during the period. Cott comprises about 1.4% of Levin Capital Strategies L.P.’s investment portfolio, making the stock its 27th largest position. Levin Capital Strategies L.P. owned about 3.35% of Cott worth $63,453,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dupont Capital Management Corp acquired a new stake in shares of Cott in the fourth quarter valued at approximately $738,000. Financial & Investment Management Group Ltd. lifted its position in shares of Cott by 5.6% in the fourth quarter. Financial & Investment Management Group Ltd. now owns 244,721 shares of the company’s stock valued at $3,411,000 after buying an additional 12,977 shares during the last quarter. Intact Investment Management Inc. lifted its position in shares of Cott by 19.5% in the fourth quarter. Intact Investment Management Inc. now owns 601,200 shares of the company’s stock valued at $11,345,000 after buying an additional 98,300 shares during the last quarter. First Hawaiian Bank lifted its position in shares of Cott by 24.5% in the fourth quarter. First Hawaiian Bank now owns 4,399 shares of the company’s stock valued at $61,000 after buying an additional 865 shares during the last quarter. Finally, Vanguard Group Inc lifted its position in shares of Cott by 2.7% in the third quarter. Vanguard Group Inc now owns 3,294,879 shares of the company’s stock valued at $53,211,000 after buying an additional 85,590 shares during the last quarter.
A number of analysts have recently issued reports on COT shares. Zacks Investment Research cut Cott from a “hold” rating to a “sell” rating in a research report on Tuesday, January 8th. Citigroup set a $19.00 price target on Cott and gave the stock a “buy” rating in a report on Friday, November 9th. Jefferies Financial Group reissued a “buy” rating and set a $21.00 price target on shares of Cott in a report on Thursday, November 8th. BMO Capital Markets reissued a “buy” rating and set a $20.00 price target on shares of Cott in a report on Tuesday, November 13th. Finally, ValuEngine cut Cott from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $18.76.
Cott (NYSE:COT) (TSE:BCB) last released its quarterly earnings results on Thursday, November 8th. The company reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.08). The firm had revenue of $609.30 million for the quarter, compared to analyst estimates of $603.37 million. Cott had a return on equity of 1.77% and a net margin of 17.03%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.30 earnings per share. As a group, equities research analysts forecast that Cott Corp will post 0.24 earnings per share for the current year.
In other Cott news, Director Graham W. Savage sold 7,879 shares of Cott stock in a transaction on Wednesday, December 12th. The stock was sold at an average price of $14.98, for a total value of $118,027.42. Following the completion of the transaction, the director now directly owns 32,706 shares of the company’s stock, valued at approximately $489,935.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Graham W. Savage sold 12,411 shares of Cott stock in a transaction on Tuesday, December 4th. The shares were sold at an average price of $15.08, for a total value of $187,157.88. Following the completion of the transaction, the director now directly owns 40,585 shares of the company’s stock, valued at $612,021.80. The disclosure for this sale can be found here. 3.02% of the stock is owned by insiders.
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Cott Corporation, together with its subsidiaries, operates as a route based service company in North America and Europe. It operates in three segments: Route Based Services; Coffee, Tea and Extract Solutions; and All Other. The company's 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, beverage concentrates, and mineral water.
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