Levin Capital Strategies L.P. lowered its position in Cott Corp (NYSE:COT) (TSE:BCB) by 12.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,865,145 shares of the company’s stock after selling 2,636,738 shares during the period. Cott Corp comprises about 3.9% of Levin Capital Strategies L.P.’s holdings, making the stock its 5th largest position. Levin Capital Strategies L.P. owned approximately 12.86% of Cott Corp worth $220,813,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new position in shares of Cott Corp during the fourth quarter worth $61,242,000. Norges Bank purchased a new position in shares of Cott Corp during the fourth quarter worth $24,080,000. Prudential PLC increased its position in shares of Cott Corp by 95.7% in the fourth quarter. Prudential PLC now owns 1,710,500 shares of the company’s stock worth $19,380,000 after buying an additional 836,600 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Cott Corp by 42.8% in 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. Finally, Waratah Capital Advisors Ltd. purchased a new position in shares of Cott Corp during the fourth quarter worth $6,537,000. Institutional investors and hedge funds own 0.18% of the company’s stock.
Cott Corp (NYSE:COT) traded up 3.41% during trading on Friday, hitting $13.04. 1,096,062 shares of the company’s stock traded hands. The company’s market cap is $1.81 billion. The company’s 50 day moving average price is $12.73 and its 200 day moving average price is $11.77. Cott Corp has a 52-week low of $10.10 and a 52-week high of $17.38.
Cott Corp (NYSE:COT) last issued its quarterly earnings data on Thursday, May 4th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.09) by $0.04. Cott Corp had a negative net margin of 0.09% and a positive return on equity of 4.41%. The company had revenue of $896.40 million for the quarter, compared to the consensus estimate of $909.19 million. During the same quarter last year, the business posted ($0.02) earnings per share. Cott Corp’s revenue was up 28.4% on a year-over-year basis. Analysts expect that Cott Corp will post $0.16 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 14th. Shareholders of record on Friday, June 2nd will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, May 31st. This is a boost from Cott Corp’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 1.90%. Cott Corp’s dividend payout ratio (DPR) is -600.00%.
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COT has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Cott Corp from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 9th. Royal Bank of Canada restated a “buy” rating and set a $20.00 target price on shares of Cott Corp in a report on Friday, March 24th. Canaccord Genuity restated a “buy” rating and set a $19.00 target price on shares of Cott Corp in a report on Monday, April 17th. Finally, Jefferies Group LLC boosted their target price on shares of Cott Corp from $12.50 to $13.50 and gave the stock a “hold” rating in a report on Wednesday, April 19th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Cott Corp has an average rating of “Buy” and an average target price of $17.14.
In related news, CEO Thomas Harrington acquired 46,100 shares of the company’s stock in a transaction on Monday, March 6th. The shares were acquired at an average cost of $10.99 per share, for a total transaction of $506,639.00. Following the purchase, the chief executive officer now owns 43,953 shares in the company, valued at $483,043.47. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jeremy S. G. Fowden acquired 9,470 shares of the company’s stock in a transaction on Wednesday, March 1st. The shares were bought at an average price of $10.56 per share, for a total transaction of $100,003.20. Following the completion of the purchase, the chief executive officer now owns 894,715 shares in the company, valued at approximately $9,448,190.40. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 192,570 shares of company stock worth $2,059,802. Company insiders own 2.19% of the company’s stock.
About Cott Corp
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.
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