Alambic Investment Management L.P. Reduces Position in Cott Corp (COT)

Alambic Investment Management L.P. decreased its position in shares of Cott Corp (NYSE:COT) (TSE:BCB) by 26.6% during the first quarter, Holdings Channel reports. The firm owned 124,800 shares of the company’s stock after selling 45,155 shares during the period. Alambic Investment Management L.P.’s holdings in Cott Corp were worth $1,543,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC raised its stake in Cott Corp by 46.8% in the third quarter. Acrospire Investment Management LLC now owns 8,159 shares of the company’s stock worth $116,000 after buying an additional 2,600 shares during the period. Wedbush Securities Inc. bought a new stake in Cott Corp during the first quarter worth $175,000. Teza Capital Management LLC bought a new stake in Cott Corp during the first quarter worth $177,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Cott Corp by 92.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,600 shares of the company’s stock worth $180,000 after buying an additional 7,000 shares during the period. Finally, Parametric Portfolio Associates LLC bought a new stake in Cott Corp during the first quarter worth $180,000. 0.18% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Cott Corp (NYSE:COT)

Cott Corp (NYSE:COT) traded up 3.41% on Friday, reaching $13.04. The company had a trading volume of 1,096,062 shares. The stock’s 50 day moving average is $12.71 and its 200-day moving average is $11.77. Cott Corp has a 1-year low of $10.10 and a 1-year high of $17.38. The stock’s market capitalization is $1.81 billion.

Cott Corp (NYSE:COT) last issued its quarterly earnings results on Thursday, May 4th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by $0.04. The business had revenue of $896.40 million for the quarter, compared to analysts’ expectations of $909.19 million. Cott Corp had a positive return on equity of 4.41% and a negative net margin of 0.09%. The business’s revenue for the quarter was up 28.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.02) EPS. On average, equities analysts predict that Cott Corp will post $0.16 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 14th. Shareholders of record on Friday, June 2nd will be given a dividend of $0.06 per share. The ex-dividend date is Wednesday, May 31st. This represents a $0.24 dividend on an annualized basis and a yield of 1.90%. This is an increase from Cott Corp’s previous quarterly dividend of $0.05. Cott Corp’s dividend payout ratio is currently -600.00%.

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A number of brokerages recently commented on COT. Royal Bank of Canada reaffirmed a “buy” rating and issued a $20.00 price target on shares of Cott Corp in a research note on Friday, March 24th. Zacks Investment Research lowered Cott Corp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 9th. Canaccord Genuity reissued a “buy” rating and set a $21.00 price objective on shares of Cott Corp in a research report on Tuesday, February 7th. Finally, Jefferies Group LLC raised their price objective on Cott Corp from $12.50 to $13.50 and gave the company a “hold” rating in a research report on Wednesday, April 19th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Cott Corp currently has an average rating of “Buy” and an average price target of $17.14.

In other Cott Corp news, Director Eric Rosenfeld purchased 125,000 shares of the stock in a transaction on Wednesday, March 1st. The shares were bought at an average price of $10.60 per share, for a total transaction of $1,325,000.00. Following the completion of the transaction, the director now owns 390,065 shares of the company’s stock, valued at approximately $4,134,689. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas Harrington purchased 46,100 shares of the stock in a transaction on Monday, March 6th. The shares were acquired at an average price of $10.99 per share, for a total transaction of $506,639.00. Following the transaction, the chief executive officer now directly owns 43,953 shares of the company’s stock, valued at approximately $483,043.47. The disclosure for this purchase can be found here. Insiders have acquired 192,570 shares of company stock worth $2,059,802 in the last quarter. 2.19% of the stock is currently owned by company 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.

5 Day Chart for NYSE:COT

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