CIBC World Markets Inc. Grows Position in Cott Corporation (COT)
CIBC World Markets Inc. increased its stake in shares of Cott Corporation (NYSE:COT) (TSE:BCB) by 14.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 861,227 shares of the company’s stock after buying an additional 107,523 shares during the quarter. CIBC World Markets Inc. owned about 0.62% of Cott Corporation worth $12,436,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COT. Wells Fargo & Company MN grew its holdings in shares of Cott Corporation by 42.8% during the first quarter. Wells Fargo & Company MN now owns 2,150,660 shares of the company’s stock worth $26,582,000 after buying an additional 645,087 shares during the last quarter. Eqis Capital Management Inc. purchased a new position in shares of Cott Corporation during the first quarter worth about $195,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Cott Corporation by 92.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,600 shares of the company’s stock worth $180,000 after buying an additional 7,000 shares during the last quarter. Swiss National Bank grew its holdings in shares of Cott Corporation by 1.6% during the first quarter. Swiss National Bank now owns 230,200 shares of the company’s stock worth $2,849,000 after buying an additional 3,600 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its holdings in shares of Cott Corporation by 6.3% during the first quarter. Gamco Investors INC. ET AL now owns 900,700 shares of the company’s stock worth $11,133,000 after buying an additional 53,000 shares during the last quarter.
Shares of Cott Corporation (COT) traded down 2.263% during midday trading on Friday, reaching $15.335. The company’s stock had a trading volume of 90,465 shares. Cott Corporation has a 1-year low of $10.10 and a 1-year high of $16.18. The company’s market capitalization is $2.13 billion. The stock has a 50 day moving average of $15.37 and a 200-day moving average of $13.59.
Cott Corporation (NYSE:COT) (TSE:BCB) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.16 by $0.10. Cott Corporation had a negative net margin of 3.88% and a positive return on equity of 0.54%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $984.75 million. During the same quarter in the previous year, the business posted $0.15 EPS. Cott Corporation’s revenue for the quarter was up 32.5% compared to the same quarter last year. On average, equities research analysts anticipate that Cott Corporation will post ($0.01) earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 6th. Shareholders of record on Wednesday, August 23rd were paid a $0.06 dividend. The ex-dividend date of this dividend was Monday, August 21st. This represents a $0.24 annualized dividend and a dividend yield of 1.53%. Cott Corporation’s payout ratio is currently -23.30%.
A number of equities analysts recently issued reports on the company. ValuEngine raised Cott Corporation from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Royal Bank Of Canada reissued an “outperform” rating and set a $20.00 price target on shares of Cott Corporation in a report on Thursday, August 10th. BMO Capital Markets raised their price target on Cott Corporation from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Tuesday, August 1st. Stifel Nicolaus reissued a “hold” rating and set a $12.00 price target on shares of Cott Corporation in a report on Tuesday, July 25th. Finally, Jefferies Group LLC raised their price target on Cott Corporation from $14.00 to $14.25 and gave the stock a “hold” rating in a report on Thursday, July 6th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $16.75.
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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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