Sonoco Products Co (NYSE:SON)‘s stock had its “overweight” rating reissued by investment analysts at Barclays PLC in a report released on Friday, April 14th.
A number of other analysts have also commented on the company. Zacks Investment Research raised Sonoco Products from a “sell” rating to a “hold” rating in a report on Thursday, January 5th. KeyCorp reissued a “hold” rating on shares of Sonoco Products in a report on Thursday, February 9th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $47.33.
Sonoco Products (NYSE:SON) traded up 0.70% during midday trading on Friday, hitting $50.46. The stock had a trading volume of 177,473 shares. Sonoco Products has a 12 month low of $45.67 and a 12 month high of $55.58. The firm’s 50-day moving average price is $52.01 and its 200 day moving average price is $53.09. The company has a market cap of $5.01 billion, a P/E ratio of 18.34 and a beta of 1.12.
Sonoco Products (NYSE:SON) last posted its earnings results on Thursday, April 20th. The industrial products company reported $0.59 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.02. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.17 billion. Sonoco Products had a return on equity of 17.59% and a net margin of 5.99%. The company’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 EPS. On average, analysts expect that Sonoco Products will post $2.77 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 9th. Investors of record on Friday, May 12th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, May 10th. This is an increase from Sonoco Products’s previous quarterly dividend of $0.37. This represents a $1.56 annualized dividend and a yield of 3.11%. Sonoco Products’s payout ratio is 52.48%.
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In other news, VP James A. Harrell III sold 556 shares of the business’s stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $54.50, for a total value of $30,302.00. Following the transaction, the vice president now directly owns 13,218 shares in the company, valued at $720,381. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP R. Howard Coker sold 9,691 shares of the business’s stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $53.35, for a total value of $517,014.85. Following the completion of the transaction, the senior vice president now owns 149,340 shares in the company, valued at $7,967,289. The disclosure for this sale can be found here. Insiders have sold 11,187 shares of company stock worth $597,400 over the last quarter. 1.90% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Sonoco Products by 5,164.3% in the first quarter. BlackRock Inc. now owns 11,100,154 shares of the industrial products company’s stock valued at $587,419,000 after buying an additional 10,889,296 shares during the period. Vanguard Group Inc. boosted its stake in shares of Sonoco Products by 15.5% in the first quarter. Vanguard Group Inc. now owns 9,516,077 shares of the industrial products company’s stock valued at $503,591,000 after buying an additional 1,280,470 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Sonoco Products by 9.0% in the first quarter. Wells Fargo & Company MN now owns 3,411,886 shares of the industrial products company’s stock valued at $180,558,000 after buying an additional 280,668 shares during the period. American Century Companies Inc. boosted its stake in shares of Sonoco Products by 21.4% in the first quarter. American Century Companies Inc. now owns 1,971,998 shares of the industrial products company’s stock valued at $104,358,000 after buying an additional 347,375 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Sonoco Products by 18.2% in the first quarter. AQR Capital Management LLC now owns 1,234,161 shares of the industrial products company’s stock valued at $65,311,000 after buying an additional 190,402 shares during the period. 69.86% of the stock is currently owned by hedge funds and other institutional investors.
About Sonoco Products
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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