Goldman Sachs Group Inc. lowered its stake in Sonoco Products Company (NYSE:SON) by 3.2% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,952,157 shares of the industrial products company’s stock after selling 63,946 shares during the period. Goldman Sachs Group Inc. owned about 1.96% of Sonoco Products worth $103,308,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Louisiana State Employees Retirement System boosted its stake in shares of Sonoco Products by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 25,100 shares of the industrial products company’s stock valued at $1,328,000 after buying an additional 400 shares during the period. Capstone Asset Management Co. boosted its stake in shares of Sonoco Products by 18.6% in the first quarter. Capstone Asset Management Co. now owns 10,695 shares of the industrial products company’s stock valued at $566,000 after buying an additional 1,680 shares during the period. Regentatlantic Capital LLC boosted its stake in shares of Sonoco Products by 8.4% in the first quarter. Regentatlantic Capital LLC now owns 7,272 shares of the industrial products company’s stock valued at $385,000 after buying an additional 561 shares during the period. Carroll Financial Associates Inc. boosted its stake in shares of Sonoco Products by 3.1% in the first quarter. Carroll Financial Associates Inc. now owns 40,937 shares of the industrial products company’s stock valued at $2,166,000 after buying an additional 1,236 shares during the period. Finally, Creative Planning boosted its stake in shares of Sonoco Products 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. 74.12% of the stock is currently owned by institutional investors.
Shares of Sonoco Products Company (NYSE SON) opened at 51.78 on Tuesday. The firm’s 50-day moving average is $50.88 and its 200-day moving average is $52.72. The stock has a market capitalization of $5.15 billion, a price-to-earnings ratio of 18.82 and a beta of 1.14. Sonoco Products Company has a 52 week low of $49.50 and a 52 week high of $55.58.
Sonoco Products (NYSE:SON) last released its quarterly earnings data on Thursday, April 20th. The industrial products company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.17 billion. Sonoco Products had a return on equity of 17.10% and a net margin of 5.93%. The company’s revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.65 EPS. On average, equities research analysts anticipate that Sonoco Products Company will post $2.77 EPS for the current fiscal year.
Several brokerages have issued reports on SON. Jefferies Group LLC reaffirmed a “hold” rating and set a $48.00 target price (up previously from $47.00) on shares of Sonoco Products in a research note on Sunday, April 23rd. DA Davidson raised shares of Sonoco Products from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $48.00 to $54.00 in a research report on Friday, April 21st. BidaskClub raised shares of Sonoco Products from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Zacks Investment Research raised shares of Sonoco Products from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Thursday, June 22nd. Finally, Barclays PLC reissued an “overweight” rating on shares of Sonoco Products in a research report on Friday, April 14th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $48.50.
In related news, VP Marcy J. Thompson sold 940 shares of the business’s stock in a transaction that occurred on Friday, April 21st. The stock was sold at an average price of $53.28, for a total transaction of $50,083.20. Following the transaction, the vice president now directly owns 8,489 shares of the company’s stock, valued at approximately $452,293.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.90% of the company’s stock.
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.
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