Millennium Management LLC boosted its stake in Cott (NYSE:COT) (TSE:BCB) by 10.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,063,753 shares of the company’s stock after acquiring an additional 585,654 shares during the quarter. Millennium Management LLC owned about 4.35% of Cott worth $101,022,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in COT. Alliancebernstein L.P. boosted its stake in shares of Cott by 13.2% during the 4th quarter. Alliancebernstein L.P. now owns 6,144,469 shares of the company’s stock valued at $102,367,000 after buying an additional 715,105 shares during the last quarter. Thrivent Financial For Lutherans lifted its stake in Cott by 12.7% during the fourth quarter. Thrivent Financial For Lutherans now owns 2,360,449 shares of the company’s stock worth $39,325,000 after purchasing an additional 265,616 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Cott by 0.7% during the fourth quarter. Victory Capital Management Inc. now owns 2,056,275 shares of the company’s stock worth $34,258,000 after purchasing an additional 14,499 shares during the last quarter. Cramer Rosenthal Mcglynn LLC lifted its stake in Cott by 36.6% during the third quarter. Cramer Rosenthal Mcglynn LLC now owns 2,037,692 shares of the company’s stock worth $30,586,000 after purchasing an additional 545,787 shares during the last quarter. Finally, Two Sigma Investments LP lifted its stake in Cott by 5,415.7% during the fourth quarter. Two Sigma Investments LP now owns 1,993,212 shares of the company’s stock worth $33,209,000 after purchasing an additional 1,957,075 shares during the last quarter.
In related news, CFO Jay Wells sold 35,000 shares of the company’s stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $15.92, for a total value of $557,200.00. Following the completion of the sale, the chief financial officer now owns 114,257 shares in the company, valued at $1,818,971.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Marni Morgan Poe sold 30,000 shares of the company’s stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $15.84, for a total value of $475,200.00. Following the completion of the sale, the vice president now owns 130,864 shares of the company’s stock, valued at approximately $2,072,885.76. The disclosure for this sale can be found here. In the last three months, insiders sold 70,000 shares of company stock worth $1,110,850. Insiders own 2.06% of the company’s stock.
Shares of COT stock traded down $0.06 during trading on Friday, reaching $14.74. The company had a trading volume of 605,774 shares, compared to its average volume of 1,013,525. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.86 and a current ratio of 1.00. Cott has a one year low of $12.04 and a one year high of $17.77. The company has a market capitalization of $2,079.82, a price-to-earnings ratio of 210.57 and a beta of 0.80.
Cott (NYSE:COT) (TSE:BCB) last announced its quarterly earnings data on Thursday, March 1st. The company reported $0.02 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.02. Cott had a positive return on equity of 0.23% and a negative net margin of 0.05%. The company had revenue of $571.30 million for the quarter, compared to analyst estimates of $617.21 million. During the same quarter last year, the firm earned $0.01 EPS. Cott’s revenue for the quarter was up 9.6% compared to the same quarter last year. analysts forecast that Cott will post 0.28 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 28th. Investors of record on Tuesday, March 13th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend was Monday, March 12th. Cott’s dividend payout ratio is 342.86%.
A number of research analysts have recently commented on the company. Scotiabank set a $18.50 target price on Cott and gave the stock a “sector perform” rating in a report on Tuesday, January 16th. BMO Capital Markets reiterated an “outperform” rating and issued a $19.00 price target (up previously from $18.00) on shares of Cott in a research report on Friday, March 2nd. Deutsche Bank lowered Cott from a “buy” rating to a “hold” rating and set a $17.85 price target for the company. in a research report on Monday, March 26th. Finally, ValuEngine upgraded Cott from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Cott presently has a consensus rating of “Buy” and a consensus target price of $17.33.
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Cott Company Profile
Cott Corporation, together with its subsidiaries, operates as a route based service company in North America and Europe. It operates in three segments: Route Based Services; Coffee, Tea and Extract Solutions; and All Other. The company's 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, beverage concentrates, and mineral water.
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