Prudential Financial Inc. increased its stake in shares of Sonoco Products Co (NYSE:SON) by 0.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,798 shares of the industrial products company’s stock after acquiring an additional 190 shares during the quarter. Prudential Financial Inc.’s holdings in Sonoco Products were worth $4,103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. FinTrust Capital Advisors LLC grew its position in Sonoco Products by 311.5% during the 2nd quarter. FinTrust Capital Advisors LLC now owns 679 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 514 shares during the last quarter. Kavar Capital Partners LLC bought a new position in Sonoco Products during the 2nd quarter worth approximately $46,000. Machina Capital S.A.S. bought a new position in Sonoco Products during the 2nd quarter worth approximately $56,000. Country Trust Bank bought a new position in Sonoco Products during the 2nd quarter worth approximately $79,000. Finally, C M Bidwell & Associates Ltd. bought a new position in Sonoco Products during the 2nd quarter worth approximately $118,000. Institutional investors and hedge funds own 74.12% of the company’s stock.
A number of equities research analysts have recently weighed in on SON shares. BMO Capital Markets lowered Sonoco Products from a “market perform” rating to an “underperform” rating and cut their price objective for the stock from $60.00 to $56.00 in a research report on Monday, July 15th. KeyCorp reiterated a “hold” rating on shares of Sonoco Products in a research report on Thursday, July 18th. ValuEngine lowered Sonoco Products from a “buy” rating to a “hold” rating in a research report on Thursday, July 18th. Goldman Sachs Group lowered Sonoco Products from a “neutral” rating to a “sell” rating and set a $59.00 price objective on the stock. in a research report on Monday, June 24th. Finally, Robert W. Baird set a $70.00 price objective on Sonoco Products and gave the stock a “buy” rating in a research report on Friday, July 19th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Sonoco Products presently has a consensus rating of “Hold” and a consensus target price of $61.17.
Shares of SON stock traded down $0.06 during trading hours on Friday, reaching $59.29. The company’s stock had a trading volume of 335,845 shares, compared to its average volume of 349,364. The stock has a market capitalization of $5.96 billion, a P/E ratio of 17.59, a P/E/G ratio of 3.57 and a beta of 0.90. Sonoco Products Co has a one year low of $50.30 and a one year high of $66.57. The firm’s fifty day simple moving average is $57.98 and its 200 day simple moving average is $61.29. The company has a current ratio of 1.24, a quick ratio of 0.84 and a debt-to-equity ratio of 0.64.
Sonoco Products (NYSE:SON) last issued its quarterly earnings data on Thursday, July 18th. The industrial products company reported $0.95 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.97 by ($0.02). The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.42 billion. Sonoco Products had a return on equity of 19.55% and a net margin of 5.61%. Sonoco Products’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.93 earnings per share. As a group, equities research analysts forecast that Sonoco Products Co will post 3.57 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend was Thursday, August 8th. Sonoco Products’s payout ratio is presently 51.04%.
In other news, VP Marcy J. Thompson sold 1,182 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $61.37, for a total value of $72,539.34. Following the completion of the transaction, the vice president now owns 18,938 shares in the company, valued at approximately $1,162,225.06. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.30% of the company’s stock.
Sonoco Products Profile
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.
Featured Article: What is meant by a buy rating?
Want to see what other hedge funds are holding SON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sonoco Products Co (NYSE:SON).
Receive News & Ratings for Sonoco Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sonoco Products and related companies with MarketBeat.com's FREE daily email newsletter.