Cott Corp (NYSE:COT) (TSE:BCB) announced a quarterly dividend on Wednesday, November 8th, Zacks reports. Investors of record on Tuesday, November 28th will be paid a dividend of 0.06 per share on Friday, December 8th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Monday, November 27th.
Cott has raised its dividend payment by an average of 1.3% annually over the last three years. Cott has a dividend payout ratio of 800.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Cott to earn $0.21 per share next year, which means the company may not be able to cover its $0.24 annual dividend with an expected future payout ratio of 114.3%.
Shares of Cott (COT) traded up $0.06 during mid-day trading on Thursday, reaching $17.50. 1,382,926 shares of the company’s stock traded hands, compared to its average volume of 1,170,957. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.86 and a current ratio of 1.01. Cott has a 52-week low of $10.32 and a 52-week high of $17.77.
Cott (NYSE:COT) (TSE:BCB) last announced its earnings results on Thursday, November 9th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.08). The company had revenue of $995.00 million for the quarter, compared to analyst estimates of $1.01 billion. Cott had a positive return on equity of 0.09% and a negative net margin of 2.86%. The business’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the business posted $0.04 earnings per share. analysts forecast that Cott will post 0.03 EPS for the current year.
Several brokerages have recently weighed in on COT. Credit Suisse Group raised their price target on shares of Cott from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday, November 10th. ValuEngine raised shares of Cott from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Royal Bank Of Canada reissued an “outperform” rating and issued a $20.00 target price on shares of Cott in a research note on Thursday, August 10th. BMO Capital Markets reissued an “outperform” rating on shares of Cott in a research note on Tuesday, September 12th. Finally, Zacks Investment Research raised shares of Cott from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Cott has a consensus rating of “Buy” and an average target price of $17.04.
In other news, Director Gregory R. Monahan sold 8,500 shares of Cott stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $15.30, for a total transaction of $130,050.00. Following the completion of the sale, the director now owns 115,666 shares of the company’s stock, valued at $1,769,689.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory R. Monahan sold 7,500 shares of Cott stock in a transaction on Monday, November 27th. The stock was sold at an average price of $17.10, for a total value of $128,250.00. Following the sale, the director now directly owns 102,666 shares of the company’s stock, valued at approximately $1,755,588.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,800 shares of company stock valued at $347,330. Company insiders own 2.06% of the company’s stock.
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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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