Wells Fargo & Company MN reduced its stake in shares of Cott Corp (NYSE:COT) (TSE:BCB) by 10.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,863,485 shares of the company’s stock after selling 227,350 shares during the quarter. Wells Fargo & Company MN owned approximately 1.34% of Cott worth $27,971,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. First Mercantile Trust Co. purchased a new stake in shares of Cott during the second quarter valued at $145,000. Pacad Investment Ltd. purchased a new stake in shares of Cott during the second quarter valued at $181,000. Shell Asset Management Co. boosted its stake in shares of Cott by 78.2% during the third quarter. Shell Asset Management Co. now owns 23,584 shares of the company’s stock valued at $181,000 after purchasing an additional 10,353 shares during the period. Verition Fund Management LLC purchased a new stake in shares of Cott during the second quarter valued at $200,000. Finally, Legal & General Group Plc boosted its stake in shares of Cott by 63.4% during the second quarter. Legal & General Group Plc now owns 26,701 shares of the company’s stock valued at $385,000 after purchasing an additional 10,359 shares during the period.
COT has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of Cott from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 20th. Canaccord Genuity reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Cott in a research note on Friday, October 27th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Cott in a research note on Friday, September 15th. Credit Suisse Group upped their price objective on shares of Cott from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday, November 10th. Finally, ValuEngine raised shares of Cott from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $17.04.
In other Cott news, Director Gregory R. Monahan sold 7,500 shares of the stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $17.10, for a total transaction of $128,250.00. Following the completion of the sale, the director now directly owns 102,666 shares of the company’s stock, valued at $1,755,588.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.06% of the company’s stock.
Shares of Cott Corp (COT) opened at $16.58 on Friday. Cott Corp has a one year low of $10.34 and a one year high of $17.77. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.01 and a quick ratio of 0.86.
Cott (NYSE:COT) (TSE:BCB) last released its quarterly earnings data on Thursday, November 9th. The company reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.08). Cott had a positive return on equity of 0.09% and a negative net margin of 2.86%. The business had revenue of $995.00 million during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period last year, the company earned $0.04 earnings per share. The firm’s revenue was up 12.4% compared to the same quarter last year. analysts expect that Cott Corp will post 0.03 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Tuesday, November 28th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Monday, November 27th. Cott’s payout ratio is -34.29%.
Cott Company Profile
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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