Schroder Investment Management Group lessened its stake in shares of Sonoco Products Co (NYSE:SON) by 39.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 468,068 shares of the industrial products company’s stock after selling 305,188 shares during the period. Schroder Investment Management Group owned about 0.47% of Sonoco Products worth $23,525,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. National Planning Corp increased its stake in shares of Sonoco Products by 0.3% in the second quarter. National Planning Corp now owns 12,647 shares of the industrial products company’s stock worth $652,000 after purchasing an additional 42 shares in the last quarter. World Asset Management Inc lifted its position in Sonoco Products by 0.8% during the second quarter. World Asset Management Inc now owns 6,896 shares of the industrial products company’s stock valued at $355,000 after purchasing an additional 57 shares during the last quarter. Teacher Retirement System of Texas lifted its position in Sonoco Products by 1.0% during the second quarter. Teacher Retirement System of Texas now owns 7,952 shares of the industrial products company’s stock valued at $409,000 after purchasing an additional 76 shares during the last quarter. Bank of Montreal Can lifted its position in Sonoco Products by 0.7% during the second quarter. Bank of Montreal Can now owns 12,995 shares of the industrial products company’s stock valued at $669,000 after purchasing an additional 88 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in Sonoco Products by 1.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 9,411 shares of the industrial products company’s stock valued at $484,000 after purchasing an additional 177 shares during the last quarter. Institutional investors and hedge funds own 72.27% of the company’s stock.
Shares of Sonoco Products Co (NYSE SON) traded up $1.65 during midday trading on Tuesday, hitting $55.45. 689,400 shares of the company traded hands, compared to its average volume of 531,572. The company has a current ratio of 1.59, a quick ratio of 1.11 and a debt-to-equity ratio of 0.74. Sonoco Products Co has a 12 month low of $47.10 and a 12 month high of $55.77. The stock has a market capitalization of $5,347.77, a P/E ratio of 20.08, a price-to-earnings-growth ratio of 4.12 and a beta of 1.15.
Sonoco Products (NYSE:SON) last issued its earnings results on Thursday, October 19th. The industrial products company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.74 by $0.02. Sonoco Products had a net margin of 5.63% and a return on equity of 16.40%. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the firm earned $0.72 earnings per share. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. equities analysts predict that Sonoco Products Co will post 2.8 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 10th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Thursday, November 9th. Sonoco Products’s payout ratio is 57.35%.
SON has been the subject of a number of recent research reports. Robert W. Baird restated a “buy” rating and issued a $60.00 price objective on shares of Sonoco Products in a report on Friday, September 1st. Bank of America upgraded shares of Sonoco Products from an “underperform” rating to a “buy” rating and set a $56.00 price objective for the company in a report on Wednesday, September 6th. Jefferies Group restated a “hold” rating and issued a $48.00 price objective on shares of Sonoco Products in a report on Thursday, September 7th. Zacks Investment Research lowered shares of Sonoco Products from a “hold” rating to a “sell” rating in a report on Tuesday, September 19th. Finally, KeyCorp restated a “hold” rating on shares of Sonoco Products in a report on Thursday, October 19th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $52.00.
In other Sonoco Products news, SVP Vicki B. Arthur sold 727 shares of the business’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $53.00, for a total transaction of $38,531.00. Following the transaction, the senior vice president now directly owns 33,998 shares of the company’s stock, valued at approximately $1,801,894. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Marcy J. Thompson sold 565 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $51.00, for a total transaction of $28,815.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,937 shares of company stock worth $363,088. 1.90% of the stock is owned by insiders.
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Sonoco Products Company Profile
Sonoco Products Company is engaged in manufacturing of industrial and consumer packaging products, and providing packaging services. The Company operates in four segments: Consumer Packaging, Paper and Industrial Converted Products, Display and Packaging, and Protective Solutions. Its Consumer Packaging segment’s products and services include round composite cans, aluminum, steel and peelable membrane easy-open closures for composite and metal cans; plastic bottles, cups and trays, and printed flexible packaging and global brand management.
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