Gluskin Sheff & Assoc Inc. boosted its position in shares of Cott Corp. (NYSE:COT) by 41.0% during the second quarter, Holdings Channel reports. The firm owned 919,402 shares of the company’s stock after buying an additional 267,351 shares during the period. Gluskin Sheff & Assoc Inc.’s holdings in Cott Corp. were worth $12,835,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the stock. Royal Bank of Canada increased its stake in shares of Cott Corp. by 469.5% in the first quarter. Royal Bank of Canada now owns 4,045,311 shares of the company’s stock worth $56,190,000 after buying an additional 3,335,039 shares during the period. Renaissance Technologies LLC raised its position in Cott Corp. by 19.2% in the first quarter. Renaissance Technologies LLC now owns 3,403,900 shares of the company’s stock worth $47,286,000 after buying an additional 548,100 shares in the last quarter. Nordea Investment Management AB raised its position in Cott Corp. by 8.6% in the second quarter. Nordea Investment Management AB now owns 104,900 shares of the company’s stock worth $1,464,000 after buying an additional 8,300 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Cott Corp. by 26.0% in the first quarter. Goldman Sachs Group Inc. now owns 162,600 shares of the company’s stock worth $2,259,000 after buying an additional 33,557 shares in the last quarter. Finally, Pacad Investment Ltd. bought a new position in Cott Corp. during the first quarter worth about $235,000.
Shares of Cott Corp. (NYSE:COT) traded up 3.58% during mid-day trading on Wednesday, hitting $14.17. The stock had a trading volume of 1,079,643 shares. The firm’s 50-day moving average price is $15.50 and its 200 day moving average price is $14.75. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 372.89 and a beta of 0.59. Cott Corp. has a 12-month low of $8.96 and a 12-month high of $17.38.
Cott Corp. (NYSE:COT) last issued its earnings results on Thursday, August 4th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by $0.02. Cott Corp. had a return on equity of 4.53% and a net margin of 0.20%. The company earned $765 million during the quarter, compared to analyst estimates of $766.83 million. During the same period in the previous year, the company posted $0.18 earnings per share. The company’s quarterly revenue was down 1.9% on a year-over-year basis. Equities analysts forecast that Cott Corp. will post $0.24 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 7th. Stockholders of record on Thursday, August 25th were issued a $0.06 dividend. The ex-dividend date was Tuesday, August 23rd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.75%. Cott Corp.’s payout ratio is presently 800.27%.
A number of research firms recently issued reports on COT. BMO Capital Markets restated a “hold” rating on shares of Cott Corp. in a research report on Wednesday, June 8th. Jefferies Group restated a “hold” rating on shares of Cott Corp. in a research report on Wednesday, August 10th. Credit Suisse Group AG set a $19.00 price objective on Cott Corp. and gave the company a “buy” rating in a research report on Friday, August 5th. Stifel Nicolaus upgraded Cott Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, August 4th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $20.00 price objective on shares of Cott Corp. in a research report on Friday, August 5th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Cott Corp. presently has an average rating of “Buy” and an average price target of $17.70.
In other news, Director Eric Rosenfeld sold 25,000 shares of the stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $17.00, for a total value of $425,000.00. Following the completion of the transaction, the director now directly owns 465,065 shares of the company’s stock, valued at approximately $7,906,105. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jeremy S. G. Fowden sold 148,515 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $17.09, for a total value of $2,538,121.35. Following the completion of the transaction, the chief executive officer now directly owns 892,500 shares of the company’s stock, valued at $15,252,825. The disclosure for this sale can be found here. 2.19% of the stock is owned by insiders.
About Cott Corp.
Cott Corporation, along with its subsidiaries, is engaged in production of beverages on behalf of retailers, brand owners and distributors. The Company operates through four segments: DSS; Cott North America; Cott United Kingdom (Cott U.K.), and All Other, which includes its Mexico segment, Royal Crown International (RCI) segment and other miscellaneous expenses.
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