Cott (COT) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Cott (NYSE:COT) (TSE:BCB) from a hold rating to a sell rating in a report released on Tuesday morning.

According to Zacks, “Cott Corporation is a North American and European water, coffee and coffee extracts, tea and filtration solutions service company. “

Several other brokerages have also recently commented on COT. Citigroup set a $19.00 price objective on shares of Cott and gave the company a buy rating in a research note on Friday, November 9th. BMO Capital Markets reaffirmed a buy rating and set a $20.00 target price on shares of Cott in a report on Tuesday, November 13th. Jefferies Financial Group reaffirmed a buy rating and set a $21.00 target price on shares of Cott in a report on Thursday, November 8th. Finally, ValuEngine lowered shares of Cott from a strong-buy rating to a buy rating in a report on Wednesday, January 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. Cott currently has a consensus rating of Buy and a consensus price target of $18.76.

NYSE COT traded up $0.28 on Tuesday, hitting $15.20. 1,060,613 shares of the company’s stock traded hands, compared to its average volume of 1,483,302. The company has a current ratio of 1.42, a quick ratio of 1.13 and a debt-to-equity ratio of 1.04. Cott has a 1-year low of $13.34 and a 1-year high of $17.34. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 217.14 and a beta of 0.82.

Cott (NYSE:COT) (TSE:BCB) last announced its quarterly earnings data on Thursday, November 8th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.08). Cott had a net margin of 17.03% and a return on equity of 1.77%. The business had revenue of $609.30 million for the quarter, compared to analyst estimates of $603.37 million. During the same quarter in the previous year, the firm posted $0.30 earnings per share. The business’s revenue was up 4.9% on a year-over-year basis. Analysts forecast that Cott will post 0.24 EPS for the current year.

In related news, Director Graham W. Savage sold 7,879 shares of the business’s stock in a transaction on Wednesday, December 12th. The shares were sold at an average price of $14.98, for a total value of $118,027.42. Following the completion of the sale, the director now owns 32,706 shares of the company’s stock, valued at approximately $489,935.88. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Graham W. Savage sold 12,411 shares of the business’s stock in a transaction on Tuesday, December 4th. The stock was sold at an average price of $15.08, for a total transaction of $187,157.88. Following the completion of the sale, the director now directly owns 40,585 shares of the company’s stock, valued at approximately $612,021.80. The disclosure for this sale can be found here. 3.02% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Alliancebernstein L.P. grew its holdings in shares of Cott by 14.8% during the third quarter. Alliancebernstein L.P. now owns 6,907,891 shares of the company’s stock worth $111,562,000 after buying an additional 889,971 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Cott by 2.7% during the third quarter. Vanguard Group Inc. now owns 3,294,879 shares of the company’s stock worth $53,211,000 after buying an additional 85,590 shares in the last quarter. Vanguard Group Inc grew its holdings in shares of Cott by 2.7% during the third quarter. Vanguard Group Inc now owns 3,294,879 shares of the company’s stock worth $53,211,000 after buying an additional 85,590 shares in the last quarter. Levin Capital Strategies L.P. grew its holdings in shares of Cott by 852.6% during the third quarter. Levin Capital Strategies L.P. now owns 2,987,452 shares of the company’s stock worth $48,247,000 after buying an additional 2,673,850 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Cott by 0.3% during the third quarter. Thrivent Financial for Lutherans now owns 2,342,762 shares of the company’s stock worth $37,835,000 after buying an additional 7,119 shares in the last quarter.

About Cott

Cott Corporation, together with its subsidiaries, operates as a route based service company in North America and Europe. It operates in three segments: Route Based Services; Coffee, Tea and Extract Solutions; and All Other. The company's 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, beverage concentrates, and mineral water.

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