Sonoco Products Company (SON) Shares Bought by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale increased its position in shares of Sonoco Products Company (NYSE:SON) by 7.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,800 shares of the industrial products company’s stock after buying an additional 6,500 shares during the period. DekaBank Deutsche Girozentrale owned 0.09% of Sonoco Products worth $4,677,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. United Services Automobile Association raised its stake in shares of Sonoco Products by 109.6% in the first quarter. United Services Automobile Association now owns 18,360 shares of the industrial products company’s stock worth $972,000 after buying an additional 9,600 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Sonoco Products by 7.0% in the first quarter. Ameritas Investment Partners Inc. now owns 38,856 shares of the industrial products company’s stock worth $2,056,000 after buying an additional 2,549 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Sonoco Products by 2,582.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 24,085 shares of the industrial products company’s stock worth $1,275,000 after buying an additional 23,187 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Sonoco Products by 8.4% in the first quarter. Russell Investments Group Ltd. now owns 96,899 shares of the industrial products company’s stock worth $5,128,000 after buying an additional 7,478 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Sonoco Products by 47.3% in the first quarter. Legal & General Group Plc now owns 110,390 shares of the industrial products company’s stock worth $5,843,000 after buying an additional 35,429 shares in the last quarter. Hedge funds and other institutional investors own 75.39% of the company’s stock.

Sonoco Products Company (NYSE:SON) opened at 49.20 on Thursday. The stock’s 50 day moving average is $50.11 and its 200-day moving average is $51.82. The firm has a market cap of $4.89 billion, a price-to-earnings ratio of 18.68 and a beta of 1.12. Sonoco Products Company has a one year low of $47.52 and a one year high of $55.58.

Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Thursday, July 20th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.71. Sonoco Products had a net margin of 5.61% and a return on equity of 16.64%. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the prior year, the company earned $0.73 EPS. The firm’s revenue was up 2.9% on a year-over-year basis. On average, equities research analysts expect that Sonoco Products Company will post $2.75 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 11th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.17%. Sonoco Products’s dividend payout ratio (DPR) is 59.09%.

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SON has been the topic of a number of research analyst reports. BidaskClub lowered shares of Sonoco Products from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Vertical Research upgraded shares of Sonoco Products from a “sell” rating to a “hold” rating and set a $45.00 target price on the stock in a research report on Wednesday, August 2nd. Bank of America Corporation raised their target price on shares of Sonoco Products from $55.00 to $56.00 and gave the company an “underperform” rating in a research report on Friday, July 21st. Jefferies Group LLC restated a “neutral” rating on shares of Sonoco Products in a research report on Wednesday, June 28th. Finally, Zacks Investment Research upgraded shares of Sonoco Products from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research report on Thursday, June 22nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Sonoco Products has a consensus rating of “Hold” and a consensus price target of $52.57.

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.

Institutional Ownership by Quarter for Sonoco Products (NYSE:SON)

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