Cott Corp (NYSE:COT) (TSE:BCB) declared a quarterly dividend on Thursday, March 1st, Zacks reports. Investors of record on Tuesday, March 13th will be paid a dividend of 0.06 per share on Wednesday, March 28th. This represents a $0.24 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Monday, March 12th.
Cott has raised its dividend payment by an average of 0.8% per year over the last three years. Cott has a payout ratio of 800.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Cott to earn $0.37 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 64.9%.
Cott (NYSE:COT) opened at $15.77 on Friday. The company has a market capitalization of $2,209.08, a PE ratio of 1,577.00 and a beta of 0.85. Cott has a 1-year low of $11.58 and a 1-year high of $17.77. The company has a quick ratio of 0.86, a current ratio of 1.00 and a debt-to-equity ratio of 1.74.
In other Cott news, VP Marni Morgan Poe sold 30,000 shares of the stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $15.84, for a total transaction of $475,200.00. Following the transaction, the vice president now owns 130,864 shares of the company’s stock, valued at approximately $2,072,885.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Jay Wells sold 35,000 shares of the stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $15.92, for a total value of $557,200.00. Following the transaction, the chief financial officer now directly owns 114,257 shares in the company, valued at approximately $1,818,971.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,000 shares of company stock worth $1,110,850. 2.06% of the stock is currently owned by company insiders.
A number of brokerages recently commented on COT. Scotiabank reduced their price target on Cott from $19.00 to $17.50 and set a “sector perform” rating for the company in a report on Friday, March 2nd. BMO Capital Markets reissued an “outperform” rating and issued a $19.00 price target (up previously from $18.00) on shares of Cott in a report on Friday, March 2nd. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $17.25.
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Cott Company Profile
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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