Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp decreased its stake in Cott Corp. (NYSE:COT) (TSE:BCB) by 19.7% during the third quarter, Holdings Channel reports. The institutional investor owned 192,380 shares of the company’s stock after selling 47,230 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp owned approximately 0.14% of Cott Corp. worth $3,592,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. CIBC Asset Management Inc increased its stake in Cott Corp. by 25.6% in the second quarter. CIBC Asset Management Inc now owns 415,100 shares of the company’s stock valued at $5,763,000 after buying an additional 84,727 shares during the period. Nordea Investment Management AB increased its stake in Cott Corp. by 8.6% in the second quarter. Nordea Investment Management AB now owns 104,900 shares of the company’s stock valued at $1,464,000 after buying an additional 8,300 shares during the period. Gluskin Sheff & Assoc Inc. increased its stake in Cott Corp. by 41.0% in the second quarter. Gluskin Sheff & Assoc Inc. now owns 919,402 shares of the company’s stock valued at $12,835,000 after buying an additional 267,351 shares during the period. Capital Fund Management S.A. purchased a new stake in Cott Corp. during the second quarter valued at about $142,000. Finally, Davis Rea LTD. increased its stake in Cott Corp. by 12.0% in the second quarter. Davis Rea LTD. now owns 64,402 shares of the company’s stock valued at $894,000 after buying an additional 6,894 shares during the period.
Cott Corp. (NYSE:COT) traded down 0.58% during trading on Friday, hitting $11.91. The stock had a trading volume of 238,883 shares. The stock’s market capitalization is $1.65 billion. The company has a 50-day moving average of $13.08 and a 200-day moving average of $14.62. Cott Corp. has a 52 week low of $9.07 and a 52 week high of $17.38.
Cott Corp. (NYSE:COT) last issued its quarterly earnings results on Thursday, November 10th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. Cott Corp. had a positive return on equity of 4.41% and a negative net margin of 0.09%. The firm had revenue of $885.10 million for the quarter, compared to analysts’ expectations of $873.94 million. During the same period in the previous year, the firm posted $0.09 EPS. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. On average, equities analysts expect that Cott Corp. will post $0.21 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 8th. Stockholders of record on Monday, November 28th will be given a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, November 23rd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.02%. Cott Corp.’s dividend payout ratio is currently -600.00%.
COT has been the subject of several recent research reports. TheStreet downgraded Cott Corp. from a “buy” rating to a “hold” rating in a research note on Monday, October 3rd. BMO Capital Markets reduced their price target on Cott Corp. from $20.00 to $18.00 and set a “market perform” rating for the company in a research note on Monday, October 17th. Deutsche Bank AG boosted their price target on Cott Corp. from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, August 5th. Royal Bank Of Canada restated an “outperform” rating and issued a $20.00 price target on shares of Cott Corp. in a research note on Wednesday, August 24th. Finally, Credit Suisse Group AG initiated coverage on Cott Corp. in a research note on Monday, November 14th. They issued an “outperform” rating and a $19.00 price target for the company. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $18.20.
Cott Corp. Company Profile
Cott Corporation, along with its subsidiaries, is engaged in production of beverages on behalf of retailers, brand owners and distributors. The Company operates through four segments: DSS; Cott North America; Cott United Kingdom (Cott U.K.), and All Other, which includes its Mexico segment, Royal Crown International (RCI) segment and other miscellaneous expenses.