LPL Financial LLC boosted its holdings in Sonoco (NYSE:SON) by 125.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 24,415 shares of the industrial products company’s stock after acquiring an additional 13,583 shares during the period. LPL Financial LLC’s holdings in Sonoco were worth $1,297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also added to or reduced their stakes in the business. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Sonoco by 68.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,027 shares of the industrial products company’s stock worth $161,000 after purchasing an additional 1,233 shares during the period. Elkfork Partners LLC acquired a new position in Sonoco in the fourth quarter worth $1,952,000. TIAA CREF Investment Management LLC boosted its holdings in Sonoco by 1.2% in the fourth quarter. TIAA CREF Investment Management LLC now owns 209,787 shares of the industrial products company’s stock worth $11,148,000 after purchasing an additional 2,579 shares during the period. Teachers Advisors LLC boosted its holdings in Sonoco by 1.8% in the fourth quarter. Teachers Advisors LLC now owns 114,278 shares of the industrial products company’s stock worth $6,073,000 after purchasing an additional 2,005 shares during the period. Finally, California State Teachers Retirement System boosted its holdings in Sonoco by 0.7% in the fourth quarter. California State Teachers Retirement System now owns 168,144 shares of the industrial products company’s stock worth $8,935,000 after purchasing an additional 1,161 shares during the period. 70.78% of the stock is owned by hedge funds and other institutional investors.
Shares of SON opened at $47.84 on Friday. Sonoco has a 1 year low of $46.55 and a 1 year high of $55.77. The firm has a market cap of $4,837.08, a PE ratio of 17.15, a PEG ratio of 3.25 and a beta of 1.12. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.56 and a quick ratio of 1.09.
Sonoco (NYSE:SON) last announced its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.01). Sonoco had a net margin of 3.48% and a return on equity of 16.63%. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period last year, the firm posted $0.62 EPS. The business’s revenue was up 13.7% compared to the same quarter last year. analysts anticipate that Sonoco will post 3.2 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Wednesday, February 28th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date was Tuesday, February 27th. Sonoco’s dividend payout ratio is currently 55.91%.
Several equities analysts have recently issued reports on SON shares. TheStreet downgraded shares of Sonoco from a “b” rating to a “c+” rating in a report on Friday, February 16th. Zacks Investment Research downgraded shares of Sonoco from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Barclays raised shares of Sonoco from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $49.00 to $55.00 in a report on Friday, December 15th. Vertical Research raised shares of Sonoco from a “hold” rating to a “buy” rating in a report on Friday, March 23rd. Finally, Bank of America downgraded shares of Sonoco from a “buy” rating to a “neutral” rating and set a $59.00 price target for the company. in a report on Monday, April 2nd. One analyst has 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 currently has an average rating of “Hold” and an average price target of $53.71.
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Sonoco Products Company manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through four segments: Consumer Packaging, Display and Packaging, Paper and Industrial Converted Products, and Protective Solutions. The Consumer Packaging segment offers composite and thermoformed plastic round and shaped rigid containers and trays; extruded and injection-molded plastic products; printed flexible packaging products; brand artwork management; and metal and peelable membrane ends and closures.
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