Wedge Capital Management L L P NC Has $145,000 Stake in Cott Corp (NYSE:COT)

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Wedge Capital Management L L P NC trimmed its holdings in Cott Corp (NYSE:COT) (TSE:BCB) by 44.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,601 shares of the company’s stock after selling 9,426 shares during the period. Wedge Capital Management L L P NC’s holdings in Cott were worth $145,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Aperio Group LLC lifted its holdings in Cott by 4.1% during the 2nd quarter. Aperio Group LLC now owns 35,355 shares of the company’s stock worth $472,000 after purchasing an additional 1,399 shares during the last quarter. Marshall Wace North America L.P. lifted its holdings in Cott by 17.7% during the 2nd quarter. Marshall Wace North America L.P. now owns 14,178 shares of the company’s stock worth $189,000 after purchasing an additional 2,132 shares during the last quarter. First Mercantile Trust Co. lifted its holdings in Cott by 20.8% during the 2nd quarter. First Mercantile Trust Co. now owns 15,121 shares of the company’s stock worth $202,000 after purchasing an additional 2,600 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in Cott by 3.4% during the 2nd quarter. CIBC Asset Management Inc now owns 79,348 shares of the company’s stock worth $1,059,000 after purchasing an additional 2,638 shares during the last quarter. Finally, Doyle Wealth Management acquired a new stake in Cott during the 2nd quarter worth approximately $39,000.

Several research firms recently weighed in on COT. Zacks Investment Research raised Cott from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 9th. Royal Bank of Canada reissued an “outperform” rating and set a $20.00 price target on shares of Cott in a report on Friday, August 9th. Goldman Sachs Group raised Cott from a “neutral” rating to a “buy” rating and set a $18.00 price target for the company in a report on Tuesday, July 23rd. Finally, TD Securities lifted their price target on Cott from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $18.33.

In related news, CEO Thomas Harrington acquired 25,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average price of $12.49 per share, for a total transaction of $312,250.00. Following the purchase, the chief executive officer now directly owns 124,920 shares in the company, valued at $1,560,250.80. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Eric Rosenfeld acquired 80,000 shares of the stock in a transaction on Monday, August 12th. The shares were bought at an average price of $12.38 per share, for a total transaction of $990,400.00. Following the purchase, the director now owns 415,478 shares in the company, valued at $5,143,617.64. The disclosure for this purchase can be found here. 3.99% of the stock is owned by company insiders.

Cott stock traded up $0.02 during mid-day trading on Friday, reaching $12.66. 1,654,032 shares of the company were exchanged, compared to its average volume of 1,067,390. The company has a fifty day simple moving average of $12.70 and a 200-day simple moving average of $13.11. Cott Corp has a 12 month low of $11.72 and a 12 month high of $15.96. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.01 and a quick ratio of 0.78. The firm has a market cap of $1.76 billion, a PE ratio of 79.13 and a beta of 0.90.

Cott (NYSE:COT) (TSE:BCB) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.10). Cott had a negative return on equity of 0.27% and a negative net margin of 0.19%. The company had revenue of $616.10 million for the quarter, compared to the consensus estimate of $620.54 million. During the same quarter last year, the business earned $0.06 EPS. Cott’s revenue was up 1.1% on a year-over-year basis. Sell-side analysts anticipate that Cott Corp will post 0.34 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Tuesday, November 26th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $0.24 dividend on an annualized basis and a yield of 1.90%. Cott’s dividend payout ratio (DPR) is presently 150.00%.

Cott Profile

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.

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Institutional Ownership by Quarter for Cott (NYSE:COT)

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