Cott Corp (NYSE:COT) Short Interest Update

Cott Corp (NYSE:COT) (TSE:BCB) saw a significant decline in short interest in October. As of October 31st, there was short interest totalling 4,050,000 shares, a decline of 16.5% from the September 30th total of 4,850,000 shares. Currently, 3.1% of the shares of the stock are sold short. Based on an average daily volume of 843,400 shares, the days-to-cover ratio is currently 4.8 days.

In other Cott news, CEO Thomas Harrington acquired 25,000 shares of Cott stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of $12.49 per share, with a total value of $312,250.00. Following the completion of the purchase, the chief executive officer now owns 124,920 shares in the company, valued at $1,560,250.80. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.99% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. Doyle Wealth Management bought a new stake in shares of Cott during the second quarter worth $39,000. Cutler Group LP bought a new stake in Cott in the second quarter valued at about $73,000. Tower Research Capital LLC TRC increased its holdings in Cott by 137.4% in the third quarter. Tower Research Capital LLC TRC now owns 7,403 shares of the company’s stock valued at $93,000 after purchasing an additional 4,285 shares during the last quarter. Paloma Partners Management Co bought a new stake in Cott in the second quarter valued at about $137,000. Finally, Atria Investments LLC bought a new stake in Cott in the second quarter valued at about $122,000.

Shares of COT stock traded down $0.04 on Friday, reaching $12.85. 534,669 shares of the stock were exchanged, compared to its average volume of 702,239. Cott has a one year low of $11.72 and a one year high of $15.92. The company has a current ratio of 1.05, a quick ratio of 0.78 and a debt-to-equity ratio of 1.23. The stock has a 50 day moving average price of $12.70 and a 200 day moving average price of $13.04.

Cott (NYSE:COT) (TSE:BCB) last released its earnings results on Thursday, November 7th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.10). The firm had revenue of $616.10 million for the quarter, compared to the consensus estimate of $620.54 million. Cott had a negative return on equity of 0.27% and a negative net margin of 0.19%. The company’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.06 EPS. As a group, equities research analysts expect that Cott will post 0.27 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Tuesday, November 26th will be given a dividend of $0.06 per share. The ex-dividend date is Monday, November 25th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.87%. Cott’s payout ratio is currently 150.00%.

A number of equities analysts have commented on COT shares. Goldman Sachs Group raised Cott from a “neutral” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Tuesday, July 23rd. Zacks Investment Research raised Cott from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 9th. TD Securities boosted their price objective on Cott from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $20.00 target price on shares of Cott in a research report on Friday, August 9th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $18.00.

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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