Cott (COT) Lowered to “Hold” at Zacks Investment Research
Cott (NYSE:COT) (TSE:BCB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.
According to Zacks, “Cott Corporation is a North American and European water, coffee and coffee extracts, tea and filtration solutions service company. “
Separately, ValuEngine cut Cott from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 2nd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $18.98.
Cott (NYSE:COT) (TSE:BCB) last released its quarterly earnings results on Friday, February 22nd. The company reported $0.03 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.03. The business had revenue of $599.20 million during the quarter, compared to analysts’ expectations of $597.75 million. Cott had a return on equity of 1.72% and a net margin of 16.14%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the firm posted $0.07 EPS. As a group, equities research analysts forecast that Cott will post 0.33 earnings per share for the current year.
In related news, CEO Charles R. Hinson acquired 51,405 shares of the company’s stock in a transaction on Tuesday, February 26th. The stock was purchased at an average cost of $14.88 per share, with a total value of $764,906.40. Following the acquisition, the chief executive officer now directly owns 210,116 shares of the company’s stock, valued at $3,126,526.08. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven P. Stanbrook acquired 13,500 shares of the company’s stock in a transaction on Tuesday, February 26th. The stock was bought at an average cost of $14.77 per share, with a total value of $199,395.00. Following the completion of the acquisition, the director now directly owns 13,500 shares in the company, valued at $199,395. The disclosure for this purchase can be found here. 3.02% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in COT. Doyle Wealth Management acquired a new position in Cott in the 4th quarter valued at $41,000. Cutler Group LP raised its holdings in Cott by 39,900.0% in the 4th quarter. Cutler Group LP now owns 4,000 shares of the company’s stock valued at $55,000 after acquiring an additional 3,990 shares in the last quarter. First Hawaiian Bank raised its holdings in Cott by 24.5% in the 4th quarter. First Hawaiian Bank now owns 4,399 shares of the company’s stock valued at $61,000 after acquiring an additional 865 shares in the last quarter. Stevens Capital Management LP acquired a new position in Cott in the 4th quarter valued at $148,000. Finally, Blueshift Asset Management LLC acquired a new position in Cott in the 4th quarter valued at $210,000.
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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