Bank of New York Mellon Corp lessened its stake in shares of Cott Corp (NYSE:COT) (TSE:BCB) by 29.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 95,027 shares of the company’s stock after selling 39,809 shares during the quarter. Bank of New York Mellon Corp owned 0.07% of Cott worth $1,534,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of COT. Tobam lifted its stake in shares of Cott by 10.0% during the third quarter. Tobam now owns 222,900 shares of the company’s stock worth $3,595,000 after purchasing an additional 20,300 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Cott during the third quarter worth about $6,972,000. Intact Investment Management Inc. increased its position in shares of Cott by 93.6% during the third quarter. Intact Investment Management Inc. now owns 502,900 shares of the company’s stock worth $10,460,000 after acquiring an additional 243,100 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Cott by 137.6% during the third quarter. Acadian Asset Management LLC now owns 759,019 shares of the company’s stock worth $12,243,000 after acquiring an additional 439,500 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Cott by 2,464.5% during the third quarter. Russell Investments Group Ltd. now owns 1,237,292 shares of the company’s stock worth $19,936,000 after acquiring an additional 1,189,045 shares during the last quarter.
Shares of Cott stock opened at $13.86 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.42 and a quick ratio of 1.13. The stock has a market capitalization of $2.03 billion, a P/E ratio of 198.00 and a beta of 0.83. Cott Corp has a fifty-two week low of $13.34 and a fifty-two week high of $17.06.
A number of brokerages have recently issued reports on COT. ValuEngine lowered Cott from a “buy” rating to a “hold” rating in a research report on Saturday. BMO Capital Markets reaffirmed a “buy” rating and set a $20.00 target price on shares of Cott in a research report on Tuesday, November 13th. Jefferies Financial Group reaffirmed a “buy” rating and set a $21.00 target price on shares of Cott in a research report on Thursday, November 8th. Zacks Investment Research lowered Cott from a “buy” rating to a “hold” rating in a research report on Tuesday, November 13th. Finally, Citigroup set a $19.00 target price on Cott and gave the stock a “buy” rating in a research report on Friday, November 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $18.76.
In related news, Director Graham W. Savage sold 7,879 shares of the business’s stock in a transaction dated Wednesday, December 12th. The stock was sold at an average price of $14.98, for a total value of $118,027.42. Following the completion of the sale, the director now directly owns 32,706 shares of the company’s stock, valued at $489,935.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Graham W. Savage sold 12,411 shares of the business’s stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $15.08, for a total value of $187,157.88. Following the completion of the sale, the director now directly owns 40,585 shares of the company’s stock, valued at $612,021.80. The disclosure for this sale can be found here. 3.02% of the stock is owned by insiders.
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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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