Cott Corporation (COT) Hits New 52-Week High Following Analyst Upgrade

Cott Corporation (NYSE:COT) (TSE:BCB) hit a new 52-week high during trading on Monday after Credit Suisse Group AG raised their price target on the stock from $17.00 to $18.00. Credit Suisse Group AG currently has an outperform rating on the stock. Cott Corporation traded as high as $16.32 and last traded at $16.15, with a volume of 5866900 shares changing hands. The stock had previously closed at $15.01.

Several other brokerages also recently commented on COT. BMO Capital Markets boosted their target price on shares of Cott Corporation from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Tuesday, August 1st. Zacks Investment Research downgraded shares of Cott Corporation from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 20th. Canaccord Genuity restated a “buy” rating and issued a $20.00 target price on shares of Cott Corporation in a research note on Friday, October 27th. Stifel Nicolaus restated a “hold” rating and issued a $12.00 target price on shares of Cott Corporation in a research note on Tuesday, July 25th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $20.00 target price on shares of Cott Corporation in a research note on Friday, September 15th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $17.04.

In related news, Director Gregory R. Monahan sold 8,500 shares of Cott Corporation stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $15.30, for a total value of $130,050.00. Following the completion of the transaction, the director now directly owns 115,666 shares of the company’s stock, valued at $1,769,689.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jason R. Ausher sold 5,800 shares of Cott Corporation stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $15.35, for a total value of $89,030.00. Following the completion of the transaction, the chief accounting officer now directly owns 20,770 shares of the company’s stock, valued at $318,819.50. The disclosure for this sale can be found here. Insiders own 2.06% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Investors Asset Management of Georgia Inc. GA ADV raised its holdings in shares of Cott Corporation by 0.6% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 35,815 shares of the company’s stock valued at $517,000 after buying an additional 200 shares during the last quarter. Symons Capital Management Inc. raised its holdings in shares of Cott Corporation by 0.5% in the second quarter. Symons Capital Management Inc. now owns 54,340 shares of the company’s stock valued at $785,000 after buying an additional 275 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Cott Corporation by 1.0% in the second quarter. Bank of Montreal Can now owns 330,305 shares of the company’s stock valued at $4,770,000 after buying an additional 3,154 shares during the last quarter. Aperio Group LLC raised its holdings in shares of Cott Corporation by 2.1% in the second quarter. Aperio Group LLC now owns 154,101 shares of the company’s stock valued at $2,225,000 after buying an additional 3,189 shares during the last quarter. Finally, Mackenzie Financial Corp raised its holdings in shares of Cott Corporation by 0.4% in the third quarter. Mackenzie Financial Corp now owns 1,107,157 shares of the company’s stock valued at $16,618,000 after buying an additional 4,299 shares during the last quarter.

The company has a debt-to-equity ratio of 1.76, a current ratio of 1.01 and a quick ratio of 0.86.

Cott Corporation (NYSE:COT) (TSE:BCB) last released its quarterly earnings results on Thursday, November 9th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.08). Cott Corporation had a negative net margin of 2.86% and a positive return on equity of 0.09%. The business had revenue of $995.00 million during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the firm earned $0.04 earnings per share. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. research analysts predict that Cott Corporation will post 0.2 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Tuesday, November 28th will be issued a dividend of $0.06 per share. The ex-dividend date is Monday, November 27th. This represents a $0.24 annualized dividend and a yield of 1.46%. Cott Corporation’s dividend payout ratio is currently -34.29%.

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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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