Cott Corporation (NYSE:COT) Sees Strong Trading Volume Following Dividend Announcement
Cott Corporation (NYSE:COT) (TSE:BCB) saw strong trading volume on Thursday after the company announced a dividend. 5,230,388 shares were traded during trading, an increase of 339% from the previous session’s volume of 1,191,730 shares.The stock last traded at $15.99 and had previously closed at $15.40.
The newly announced dividend which will be paid on Wednesday, September 6th. Shareholders of record on Wednesday, August 23rd will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, August 21st. This represents a $0.24 annualized dividend and a yield of 1.51%. Cott Corporation’s dividend payout ratio (DPR) is presently -23.30%.
Several equities analysts have weighed in on the company. Stifel Nicolaus reaffirmed a “hold” rating and set a $12.00 target price on shares of Cott Corporation in a research note on Tuesday, July 25th. BMO Capital Markets lifted their target price on Cott Corporation from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Tuesday. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $20.00 target price on shares of Cott Corporation in a research note on Monday, July 10th. ValuEngine raised Cott Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $14.00 target price (up previously from $13.50) on shares of Cott Corporation in a research note on Monday, June 12th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Cott Corporation currently has a consensus rating of “Buy” and an average target price of $17.03.
The stock’s market capitalization is $2.21 billion. The company’s 50 day moving average is $14.60 and its 200 day moving average is $12.75.
Cott Corporation (NYSE:COT) (TSE:BCB) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.10. Cott Corporation had a positive return on equity of 0.53% and a negative net margin of 3.88%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $984.75 million. During the same period in the prior year, the business earned $0.15 EPS. The company’s revenue for the quarter was up 32.5% compared to the same quarter last year. Equities analysts expect that Cott Corporation will post $0.11 earnings per share for the current year.
Large investors have recently made changes to their positions in the stock. Karp Capital Management Corp purchased a new stake in shares of Cott Corporation during the first quarter worth about $1,865,000. Teza Capital Management LLC purchased a new stake in shares of Cott Corporation during the first quarter worth about $177,000. Gabelli Funds LLC raised its stake in shares of Cott Corporation by 1.0% in the first quarter. Gabelli Funds LLC now owns 836,000 shares of the company’s stock worth $10,333,000 after buying an additional 8,400 shares in the last quarter. Gamco Investors INC. ET AL raised its stake in shares of Cott Corporation by 6.3% in the first quarter. Gamco Investors INC. ET AL now owns 900,700 shares of the company’s stock worth $11,133,000 after buying an additional 53,000 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Cott Corporation by 1.6% in the first quarter. Swiss National Bank now owns 230,200 shares of the company’s stock worth $2,849,000 after buying an additional 3,600 shares in the last quarter.
Cott Corporation Company Profile
Cott Corp is a Canada-based company, which along with its subsidiaries, is engaged in production of beverages on behalf of retailers, brand owners and distributors. The Company operates through five operating segments: Water & Coffee Solutions; Cott North America; Cott United Kingdom (Cott U.K.), Royal Crown International (RCI) and Mexico.
Receive News & Ratings for Cott Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cott Corporation and related companies with MarketBeat.com's FREE daily email newsletter.