Oppenheimer Asset Management Inc. grew its stake in Cott Corp (NYSE:COT) (TSE:BCB) by 253.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,884 shares of the company’s stock after acquiring an additional 14,972 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Cott were worth $279,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Russell Investments Group Ltd. increased its position in shares of Cott by 62.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 6,126,615 shares of the company’s stock worth $81,791,000 after purchasing an additional 2,361,963 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Cott by 19.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,090,844 shares of the company’s stock worth $53,753,000 after purchasing an additional 654,667 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Cott by 11.2% during the 2nd quarter. Wells Fargo & Company MN now owns 2,805,848 shares of the company’s stock worth $37,458,000 after purchasing an additional 283,061 shares during the last quarter. Hilton Capital Management LLC acquired a new stake in shares of Cott during the 1st quarter worth about $9,597,000. Finally, Rice Hall James & Associates LLC acquired a new stake in shares of Cott during the 2nd quarter worth about $8,290,000.
A number of analysts recently issued reports on COT shares. Royal Bank of Canada reissued an “outperform” rating and set a $20.00 price objective on shares of Cott in a research report on Friday, August 9th. Zacks Investment Research cut Cott from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 7th. TD Securities raised their target price on Cott from $17.00 to $18.00 and gave the company a “buy” rating in a report on Friday, August 9th. ValuEngine cut Cott from a “buy” rating to a “hold” rating in a report on Wednesday, May 22nd. Finally, Goldman Sachs Group upgraded Cott from a “neutral” rating to a “buy” rating and set a $18.00 target price for the company in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $18.71.
Cott stock traded down $0.05 during midday trading on Friday, reaching $13.53. 11,018 shares of the stock traded hands, compared to its average volume of 973,106. The company has a 50-day simple moving average of $12.61 and a two-hundred day simple moving average of $13.70. Cott Corp has a 12-month low of $11.72 and a 12-month high of $16.37. The firm has a market cap of $1.83 billion, a PE ratio of 84.25 and a beta of 0.90. The company has a current ratio of 1.01, a quick ratio of 0.78 and a debt-to-equity ratio of 1.25.
Cott (NYSE:COT) (TSE:BCB) last announced its earnings results on Thursday, August 8th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). The firm had revenue of $604.10 million for the quarter, compared to analysts’ expectations of $608.80 million. Cott had a negative net margin of 0.19% and a negative return on equity of 0.27%. The business’s revenue was up .1% compared to the same quarter last year. During the same quarter last year, the business earned $0.09 earnings per share. Equities research analysts anticipate that Cott Corp will post 0.34 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.77%. The ex-dividend date was Tuesday, August 20th. Cott’s payout ratio is presently 150.00%.
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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