Cidel Asset Management Inc. raised its stake in Cott Corp (NYSE:COT) (TSE:BCB) by 41.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,849,620 shares of the company’s stock after acquiring an additional 540,118 shares during the period. Cott accounts for approximately 1.5% of Cidel Asset Management Inc.’s portfolio, making the stock its 24th largest position. Cidel Asset Management Inc.’s holdings in Cott were worth $26,998,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Doyle Wealth Management acquired a new position in Cott in the fourth quarter valued at $41,000. Cutler Group LP boosted its stake in Cott by 39,900.0% in the fourth 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 boosted its stake in Cott by 24.5% in the fourth 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. Oppenheimer Asset Management Inc. acquired a new position in Cott in the first quarter valued at $86,000. Finally, Stevens Capital Management LP acquired a new position in Cott in the fourth quarter valued at $148,000.
In other news, CEO Charles R. Hinson purchased 51,405 shares of the business’s stock in a transaction that occurred 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 completion of the acquisition, the chief executive officer now directly owns 210,116 shares of the company’s stock, valued at approximately $3,126,526.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Steven P. Stanbrook purchased 13,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 26th. The shares were purchased 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 of the company’s stock, valued at $199,395. The disclosure for this purchase can be found here. 3.99% of the stock is currently owned by corporate insiders.
Cott (NYSE:COT) (TSE:BCB) last announced its earnings results on Thursday, May 2nd. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.10). Cott had a return on equity of 0.38% and a net margin of 0.08%. The business had revenue of $574.10 million for the quarter, compared to analyst estimates of $566.04 million. During the same quarter last year, the company posted $0.03 EPS. Cott’s quarterly revenue was up 2.4% on a year-over-year basis. On average, sell-side analysts anticipate that Cott Corp will post 0.31 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.24 annualized dividend and a dividend yield of 1.71%. Cott’s dividend payout ratio (DPR) is 150.00%.
Several brokerages have recently weighed in on COT. Zacks Investment Research upgraded shares of Cott from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Tuesday, March 12th. ValuEngine downgraded shares of Cott from a “buy” rating to a “hold” rating in a research note on Saturday, February 23rd. Citigroup set a $17.00 target price on shares of Cott and gave the stock a “buy” rating in a research note on Friday, May 3rd. Finally, TD Securities downgraded shares of Cott from an “action list buy” rating to a “buy” rating and decreased their target price for the stock from $20.00 to $17.00 in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. Cott has an average rating of “Buy” and a consensus target price of $18.50.
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Cott Company Profile
Cott Corporation, together with its subsidiaries, operates as a route based service company in the United States, the United Kingdom, Canada, and internationally. The company operates in three segments: Route Based Services; Coffee, Tea and Extract Solutions; and All Other. Its 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, and beverage concentrates, as well as premium spring, sparkling and flavored, and mineral water.
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