Royal Bank of Canada boosted its stake in Cott Corp. (NYSE:COT) by 469.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,045,311 shares of the company’s stock after buying an additional 3,335,039 shares during the period. Royal Bank of Canada owned 3.30% of Cott Corp. worth $56,190,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legal & General Group Plc raised its position in shares of Cott Corp. by 61.1% in the first quarter. Legal & General Group Plc now owns 8,702 shares of the company’s stock valued at $121,000 after buying an additional 3,300 shares during the last quarter. Pacad Investment Ltd. purchased a new position in shares of Cott Corp. during the first quarter valued at approximately $235,000. BlackRock Institutional Trust Company N.A. purchased a new position in shares of Cott Corp. during the first quarter valued at approximately $305,000. Boston Advisors LLC purchased a new position in shares of Cott Corp. during the first quarter valued at approximately $375,000. Finally, M&T Bank Corp purchased a new position in shares of Cott Corp. during the first quarter valued at approximately $435,000.
Shares of Cott Corp. (NYSE:COT) traded up 3.64% during mid-day trading on Thursday, reaching $14.80. The company’s stock had a trading volume of 839,278 shares. The firm’s market capitalization is $1.82 billion. The company has a 50 day moving average of $14.81 and a 200-day moving average of $13.17. Cott Corp. has a 12 month low of $8.96 and a 12 month high of $16.70.
COT has been the subject of several research reports. Canaccord Genuity reiterated a “buy” rating on shares of Cott Corp. in a research report on Wednesday, June 8th. Citigroup Inc. raised their price target on Cott Corp. from $12.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, April 8th. Zacks Investment Research raised Cott Corp. from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Tuesday, April 5th. Deutsche Bank AG raised their price target on Cott Corp. from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, May 9th. Finally, Stifel Nicolaus downgraded Cott Corp. from a “buy” rating to a “hold” rating in a report on Thursday, April 14th. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $16.40.
Cott Corporation, together with its consolidated subsidiaries, is engaged in production of beverages on behalf of retailers, brand owners and distributors. The Company operates in three segments: North America, United Kingdom and All Other. The Company is also engaged in home and office bottled water and office coffee services distribution in the United States.
