BlackRock Advisors LLC Decreases Position in Cott Corp. (COT)
BlackRock Advisors LLC reduced its stake in shares of Cott Corp. (NYSE:COT) by 29.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 425,660 shares of the company’s stock after selling 177,900 shares during the period. BlackRock Advisors LLC owned about 0.31% of Cott Corp. worth $5,942,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Capital Fund Management S.A. acquired a new stake in shares of Cott Corp. during the second quarter valued at $142,000. GSA Capital Partners LLP acquired a new stake in shares of Cott Corp. during the second quarter valued at $188,000. Neuberger Berman Group LLC acquired a new stake in shares of Cott Corp. during the second quarter valued at $203,000. Pacad Investment Ltd. acquired a new stake in shares of Cott Corp. during the first quarter valued at $235,000. Finally, Alambic Investment Management L.P. acquired a new stake in shares of Cott Corp. during the second quarter valued at $277,000.
Cott Corp. (NYSE:COT) opened at 13.48 on Friday. The firm’s 50-day moving average is $14.85 and its 200-day moving average is $14.76. Cott Corp. has a 52 week low of $8.96 and a 52 week high of $17.38. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 354.74 and a beta of 0.59.
Cott Corp. (NYSE:COT) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.15 EPS for the quarter, missing the 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 business earned $765 million during the quarter, compared to analysts’ expectations of $766.83 million. During the same quarter in the prior year, the firm earned $0.18 earnings per share. Cott Corp.’s quarterly revenue was down 1.9% on a year-over-year basis. On average, equities analysts anticipate that Cott Corp. will post $0.24 earnings per share for the current year.
COT has been the subject of several research reports. Deutsche Bank AG upped their price target on shares of Cott Corp. from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. Canaccord Genuity reaffirmed a “buy” rating and issued a $23.00 price target on shares of Cott Corp. in a research report on Friday, August 5th. Stifel Nicolaus raised shares of Cott Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, August 4th. Credit Suisse Group AG set a $19.00 price target on shares of Cott Corp. and gave the stock a “buy” rating in a research report on Friday, August 5th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Cott Corp. in a research report on Wednesday, August 10th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Cott Corp. has a consensus rating of “Buy” and a consensus target price of $17.70.
In other Cott Corp. news, CEO Jeremy S. G. Fowden sold 148,515 shares of the company’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $17.09, for a total value of $2,538,121.35. Following the transaction, the chief executive officer now directly owns 892,500 shares in the company, valued at approximately $15,252,825. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Eric Rosenfeld sold 19,582 shares of the company’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $17.07, for a total transaction of $334,264.74. Following the completion of the transaction, the director now owns 390,065 shares in the company, valued at $6,658,409.55. The disclosure for this sale can be found here. 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.
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