P2 Capital Partners LLC Acquires 729,589 Shares of Cott Corp (NYSE:COT)
P2 Capital Partners LLC boosted its holdings in Cott Corp (NYSE:COT) (TSE:BCB) by 15.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 5,522,641 shares of the company’s stock after acquiring an additional 729,589 shares during the quarter. Cott accounts for approximately 5.6% of P2 Capital Partners LLC’s portfolio, making the stock its 7th largest position. P2 Capital Partners LLC’s holdings in Cott were worth $73,727,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Cott by 0.9% in the second quarter. Vanguard Group Inc. now owns 3,571,783 shares of the company’s stock valued at $47,683,000 after buying an additional 32,269 shares during the period. A.R.T. Advisors LLC bought a new stake in Cott in the second quarter valued at approximately $203,000. Cramer Rosenthal Mcglynn LLC increased its stake in Cott by 35.2% in the second quarter. Cramer Rosenthal Mcglynn LLC now owns 5,428,725 shares of the company’s stock valued at $72,473,000 after purchasing an additional 1,412,428 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in Cott by 15.3% in the second quarter. Parametric Portfolio Associates LLC now owns 87,294 shares of the company’s stock valued at $1,165,000 after purchasing an additional 11,594 shares in the last quarter. Finally, Toronto Dominion Bank increased its stake in Cott by 32.5% in the second quarter. Toronto Dominion Bank now owns 111,695 shares of the company’s stock valued at $1,491,000 after purchasing an additional 27,420 shares in the last quarter.
NYSE:COT traded down $0.29 during trading hours on Tuesday, hitting $13.08. The stock had a trading volume of 34,877 shares, compared to its average volume of 935,254. Cott Corp has a one year low of $11.72 and a one year high of $16.37. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.78 and a current ratio of 1.01. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 81.63 and a beta of 0.90. The business’s 50 day moving average is $12.67 and its 200-day moving average is $13.68.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend was Tuesday, August 20th. Cott’s dividend payout ratio is 150.00%.
In related news, Director Eric Rosenfeld acquired 80,000 shares of the stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $12.38 per share, with a total value of $990,400.00. Following the completion of the transaction, the director now directly owns 415,478 shares of the company’s stock, valued at $5,143,617.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas Harrington acquired 25,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of $12.49 per share, with a total value of $312,250.00. Following the transaction, the chief executive officer now directly owns 124,920 shares of the company’s stock, valued at $1,560,250.80. The disclosure for this purchase can be found here. 3.99% of the stock is owned by corporate insiders.
Several equities research analysts have commented on the stock. ValuEngine downgraded shares of Cott from a “buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. TD Securities upped their target price on shares of Cott from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Goldman Sachs Group raised shares of Cott from a “neutral” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Tuesday, July 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Cott in a research note on Friday, August 9th. Finally, Zacks Investment Research downgraded shares of Cott from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $18.71.
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.
Further Reading: What Factors Can Affect Return on Equity?
Want to see what other hedge funds are holding COT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cott Corp (NYSE:COT) (TSE:BCB).
Receive News & Ratings for Cott Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cott and related companies with MarketBeat.com's FREE daily email newsletter.