Hilton Capital Management LLC Invests $9.60 Million in Cott Corp (NYSE:COT) Stock

Hilton Capital Management LLC acquired a new stake in Cott Corp (NYSE:COT) (TSE:BCB) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 656,847 shares of the company’s stock, valued at approximately $9,597,000. Cott makes up about 1.3% of Hilton Capital Management LLC’s investment portfolio, making the stock its 29th largest position.

A number of other hedge funds have also recently made changes to their positions in COT. Norges Bank purchased a new position in Cott in the 4th quarter valued at $31,133,000. Maplelane Capital LLC purchased a new position in Cott in the 4th quarter valued at $15,989,000. JPMorgan Chase & Co. lifted its holdings in Cott by 22.1% in the 1st 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 in the last quarter. One Fin Capital Management LP purchased a new position in Cott in the 4th quarter valued at $8,246,000. Finally, Cidel Asset Management Inc. lifted its holdings in Cott by 41.2% in the 1st 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 in the last quarter.

A number of research analysts have weighed in on the company. ValuEngine lowered Cott from a “buy” rating to a “hold” rating in a report on Wednesday, May 22nd. Zacks Investment Research upgraded Cott from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 14th. Citigroup set a $17.00 price objective on Cott and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, TD Securities lowered Cott from an “action list buy” rating to a “buy” rating and decreased their price objective for the company from $20.00 to $17.00 in a report on Friday, May 3rd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $18.40.

Shares of COT traded down $0.05 during midday trading on Friday, reaching $13.69. The company had a trading volume of 62,615 shares, compared to its average volume of 1,276,439. Cott Corp has a 1-year low of $12.72 and a 1-year high of $17.06. The company has a market capitalization of $1.82 billion, a PE ratio of 85.38 and a beta of 0.98. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 1.24.

Cott (NYSE:COT) (TSE:BCB) last issued its earnings results on Thursday, May 2nd. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.10). Cott had a return on equity of 0.39% and a net margin of 0.08%. The company had revenue of $574.10 million during the quarter, compared to analyst estimates of $566.04 million. During the same period last year, the business earned $0.03 earnings per share. The firm’s revenue was up 2.4% compared to the same quarter last year. As a group, equities analysts anticipate that Cott Corp will post 0.31 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 31st were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend was Thursday, May 30th. Cott’s dividend payout ratio (DPR) is presently 150.00%.

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Cott Profile

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.

Further Reading: What is a capital gain?

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Institutional Ownership by Quarter for Cott (NYSE:COT)

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