Sonoco Products (NYSE:SON) announced its quarterly earnings data on Thursday. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.97 by ($0.02), Morningstar.com reports. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Sonoco Products had a net margin of 5.61% and a return on equity of 19.55%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.93 EPS.
SON stock opened at $60.92 on Friday. Sonoco Products has a 1-year low of $50.30 and a 1-year high of $66.57. The business has a fifty day simple moving average of $64.79. The company has a quick ratio of 0.91, a current ratio of 1.24 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $6.09 billion, a PE ratio of 17.41, a P/E/G ratio of 3.64 and a beta of 0.94.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Thursday, August 8th. Sonoco Products’s dividend payout ratio is currently 51.04%.
A number of research analysts have issued reports on SON shares. ValuEngine cut United Rentals from a “sell” rating to a “strong sell” rating in a research note on Thursday. KeyCorp reiterated a “hold” rating on shares of Sonoco Products in a research note on Thursday. Vertical Research cut Sonoco Products from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. BMO Capital Markets set a $76.00 price objective on Gilead Sciences and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Goldman Sachs Group cut Metcash from a “conviction-buy” rating to a “neutral” rating in a research note on Monday, June 24th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Sonoco Products has an average rating of “Hold” and an average price target of $59.17.
In other news, VP Roger P. Schrum sold 812 shares of the business’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $62.25, for a total value of $50,547.00. Following the completion of the transaction, the vice president now owns 7,938 shares in the company, valued at $494,140.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP R. Howard Coker sold 6,484 shares of the business’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $61.94, for a total value of $401,618.96. Following the completion of the transaction, the senior vice president now owns 215,108 shares of the company’s stock, valued at approximately $13,323,789.52. The disclosure for this sale can be found here. Insiders sold 12,381 shares of company stock valued at $758,537 in the last 90 days. Company insiders own 1.30% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Machina Capital S.A.S. purchased a new stake in Sonoco Products during the second quarter valued at $56,000. Meridian Wealth Management LLC grew its holdings in Sonoco Products by 3.2% during the second quarter. Meridian Wealth Management LLC now owns 6,310 shares of the industrial products company’s stock valued at $412,000 after purchasing an additional 195 shares during the period. Winslow Evans & Crocker Inc. grew its holdings in Sonoco Products by 71.6% during the second quarter. Winslow Evans & Crocker Inc. now owns 2,396 shares of the industrial products company’s stock valued at $158,000 after purchasing an additional 1,000 shares during the period. Old North State Trust LLC grew its holdings in Sonoco Products by 4.6% during the second quarter. Old North State Trust LLC now owns 5,918 shares of the industrial products company’s stock valued at $387,000 after purchasing an additional 262 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its holdings in Sonoco Products by 1.9% during the second quarter. Oregon Public Employees Retirement Fund now owns 40,638 shares of the industrial products company’s stock valued at $2,655,000 after purchasing an additional 771 shares during the period. Hedge funds and other institutional investors own 73.87% of the company’s stock.
About Sonoco Products
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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