Cott Corporation (COT) Downgraded by Zacks Investment Research
Zacks Investment Research lowered shares of Cott Corporation (NYSE:COT) (TSE:BCB) from a hold rating to a strong sell rating in a report issued on Wednesday morning.
According to Zacks, “Cott Corporation is one of the world’s largest non-alcoholic beverage companies and the world’s largest retailer brand soft drink provider. The Company commercializes its business in over Sixty countries worldwide, with its principal markets being the United States, Canada, the United Kingdom and Mexico. Cott markets or supplies over two hundred retailer and licensed brands, and Company-owned brands including Cott, RC, Vintage, Vess and So Clear. Its products include carbonated soft drinks, sparkling and flavored waters, energy drinks, sports drinks, juices, juice drinks and smoothies, ready-to-drink teas, and other non-carbonated beverages. “
A number of other analysts have also issued reports on the stock. Royal Bank Of Canada restated an outperform rating and set a $20.00 target price on shares of Cott Corporation in a research report on Monday, July 10th. ValuEngine upgraded shares of Cott Corporation from a sell rating to a hold rating in a research report on Friday, September 1st. Jefferies Group LLC restated a hold rating and set a $14.00 target price (up previously from $13.50) on shares of Cott Corporation in a research report on Monday, June 12th. BMO Capital Markets restated an outperform rating on shares of Cott Corporation in a research report on Tuesday, September 12th. Finally, Stifel Nicolaus restated a hold rating and set a $12.00 target price on shares of Cott Corporation in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $16.75.
Shares of Cott Corporation (NYSE COT) opened at 14.94 on Wednesday. The stock’s 50 day moving average is $15.38 and its 200 day moving average is $13.86. Cott Corporation has a 52-week low of $10.10 and a 52-week high of $16.18. The stock’s market cap is $2.08 billion.
Cott Corporation (NYSE:COT) (TSE:BCB) last announced its earnings results on Thursday, August 3rd. The company reported $0.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.10). Cott Corporation had a positive return on equity of 0.54% and a negative net margin of 3.88%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $984.75 million. During the same quarter last year, the business posted $0.15 EPS. The firm’s revenue was up 32.5% compared to the same quarter last year. On average, equities analysts expect that Cott Corporation will post ($0.01) earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Wednesday, September 6th. Shareholders of record on Wednesday, August 23rd were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Monday, August 21st. Cott Corporation’s dividend payout ratio is currently -23.30%.
In other Cott Corporation news, Director Gregory R. Monahan sold 8,500 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $15.30, for a total transaction of $130,050.00. Following the transaction, the director now owns 115,666 shares of the company’s stock, valued at $1,769,689.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Jason R. Ausher sold 5,800 shares of the stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $15.35, for a total transaction of $89,030.00. Following the transaction, the chief accounting officer now directly owns 20,770 shares in the company, valued at approximately $318,819.50. The disclosure for this sale can be found here. Company insiders own 2.06% of the company’s stock.
A number of large investors have recently bought and sold shares of COT. FMR LLC raised its stake in Cott Corporation by 36.2% during the first quarter. FMR LLC now owns 9,745,914 shares of the company’s stock worth $120,628,000 after purchasing an additional 2,591,155 shares during the period. Alliancebernstein L.P. raised its stake in Cott Corporation by 157.3% during the second quarter. Alliancebernstein L.P. now owns 4,078,156 shares of the company’s stock worth $58,889,000 after purchasing an additional 2,493,378 shares during the period. Clearfield Capital Management LP purchased a new position in Cott Corporation during the first quarter worth approximately $19,174,000. Cramer Rosenthal Mcglynn LLC purchased a new position in Cott Corporation during the second quarter worth approximately $21,543,000. Finally, Thrivent Financial For Lutherans purchased a new position in Cott Corporation during the first quarter worth approximately $13,358,000.
About Cott Corporation
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.
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