Bank of Montreal Can lowered its position in Sonoco Products Company (NYSE:SON) by 2.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,907 shares of the industrial products company’s stock after selling 341 shares during the period. Bank of Montreal Can’s holdings in Sonoco Products Company were worth $683,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in SON. National Planning Corp raised its position in Sonoco Products Company by 0.3% in the fourth quarter. National Planning Corp now owns 12,568 shares of the industrial products company’s stock worth $690,000 after buying an additional 37 shares in the last quarter. Creative Planning raised its stake in shares of Sonoco Products Company by 5.8% in the first quarter. Creative Planning now owns 5,626 shares of the industrial products company’s stock valued at $298,000 after buying an additional 309 shares during the period. CHURCHILL MANAGEMENT Corp raised its stake in shares of Sonoco Products Company by 2.0% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 39,036 shares of the industrial products company’s stock valued at $2,066,000 after buying an additional 754 shares during the period. Cadence Capital Management LLC raised its stake in shares of Sonoco Products Company by 8.7% in the fourth quarter. Cadence Capital Management LLC now owns 11,227 shares of the industrial products company’s stock valued at $592,000 after buying an additional 898 shares during the period. Finally, Chilton Investment Co. LLC increased its position in shares of Sonoco Products Company by 0.9% in the third quarter. Chilton Investment Co. LLC now owns 114,966 shares of the industrial products company’s stock valued at $6,074,000 after buying an additional 1,027 shares in the last quarter. 74.51% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Sonoco Products Company (SON) traded up 1.54% during mid-day trading on Friday, reaching $51.39. 903,248 shares of the company were exchanged. The stock has a market capitalization of $5.11 billion, a P/E ratio of 18.67 and a beta of 1.10. Sonoco Products Company has a 12 month low of $45.67 and a 12 month high of $55.58. The firm has a 50-day moving average price of $51.15 and a 200 day moving average price of $52.89.
Sonoco Products Company (NYSE:SON) last issued its quarterly earnings data on Thursday, April 20th. The industrial products company reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.02. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.17 billion. Sonoco Products Company had a net margin of 5.93% and a return on equity of 17.10%. The company’s revenue was down 4.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 earnings per share. Equities research analysts anticipate that Sonoco Products Company will post $2.77 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 9th. Investors of record on Friday, May 12th were paid a $0.39 dividend. The ex-dividend date was Wednesday, May 10th. This is an increase from Sonoco Products Company’s previous quarterly dividend of $0.37. This represents a $1.56 annualized dividend and a dividend yield of 3.04%. Sonoco Products Company’s dividend payout ratio is 56.52%.
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SON has been the subject of several analyst reports. Zacks Investment Research upgraded Sonoco Products Company from a “sell” rating to a “hold” rating in a report on Thursday, March 9th. Barclays PLC reaffirmed an “overweight” rating on shares of Sonoco Products Company in a research report on Friday, April 14th. DA Davidson raised shares of Sonoco Products Company from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $48.00 to $54.00 in a research report on Friday, April 21st. Jefferies Group LLC reiterated a “hold” rating and set a $48.00 price objective (up previously from $47.00) on shares of Sonoco Products Company in a research note on Sunday, April 23rd. Finally, BidaskClub upgraded shares of Sonoco Products Company from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $46.80.
In related news, VP Marcy J. Thompson sold 940 shares of the company’s stock in a transaction dated Friday, April 21st. The shares were sold at an average price of $53.28, for a total value of $50,083.20. Following the transaction, the vice president now directly owns 8,489 shares in the company, valued at $452,293.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP James A. Harrell III sold 556 shares of the stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $54.50, for a total transaction of $30,302.00. Following the sale, the vice president now owns 13,218 shares in the company, valued at $720,381. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.
About Sonoco Products Company
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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