Sonoco Products Co. (SON) Shares Sold by Trillium Asset Management LLC
Trillium Asset Management LLC cut its stake in shares of Sonoco Products Co. (NYSE:SON) by 2.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 76,730 shares of the company’s stock after selling 1,721 shares during the period. Trillium Asset Management LLC’s holdings in Sonoco Products were worth $3,810,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Clean Yield Group boosted its position in Sonoco Products by 0.6% in the second quarter. Clean Yield Group now owns 18,000 shares of the company’s stock valued at $894,000 after buying an additional 100 shares during the period. First Midwest Bank Trust Division bought a new position in Sonoco Products during the second quarter valued at about $432,000. Speece Thorson Capital Group Inc. boosted its position in Sonoco Products by 1.3% in the second quarter. Speece Thorson Capital Group Inc. now owns 399,282 shares of the company’s stock valued at $19,828,000 after buying an additional 5,282 shares during the period. Bank of Montreal Can bought a new position in Sonoco Products during the second quarter valued at about $2,589,000. Finally, Meeder Asset Management Inc. boosted its position in Sonoco Products by 29.1% in the second quarter. Meeder Asset Management Inc. now owns 13,306 shares of the company’s stock valued at $661,000 after buying an additional 3,003 shares during the period. Institutional investors and hedge funds own 68.99% of the company’s stock.
Sonoco Products Co. (NYSE:SON) traded down 1.17% during trading on Friday, reaching $50.72. 473,940 shares of the company were exchanged. The firm has a market cap of $5.08 billion, a price-to-earnings ratio of 24.04 and a beta of 1.01. The firm has a 50-day moving average of $51.99 and a 200-day moving average of $49.49. Sonoco Products Co. has a 52-week low of $36.56 and a 52-week high of $53.57.
Sonoco Products (NYSE:SON) last announced its earnings results on Thursday, July 21st. The company reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.05. Sonoco Products had a net margin of 4.37% and a return on equity of 17.66%. The company earned $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the firm posted $0.68 earnings per share. The company’s revenue was down 3.4% on a year-over-year basis. On average, equities analysts forecast that Sonoco Products Co. will post $2.72 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 12th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend was Wednesday, August 10th. Sonoco Products’s dividend payout ratio is presently 69.81%.
Several research firms have recently issued reports on SON. Zacks Investment Research cut shares of Sonoco Products from a “hold” rating to a “sell” rating in a report on Tuesday. Bank of America Corp. cut shares of Sonoco Products from a “neutral” rating to an “underperform” rating in a report on Monday. They noted that the move was a valuation call. Deutsche Bank AG set a $42.00 target price on shares of Sonoco Products and gave the stock a “hold” rating in a report on Sunday, July 24th. Barclays PLC raised their target price on shares of Sonoco Products from $40.00 to $44.00 and gave the stock an “underweight” rating in a report on Monday, July 25th. Finally, Vertical Group cut shares of Sonoco Products from a “hold” rating to a “sell” rating in a report on Monday, July 25th. Six investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $46.25.
In other Sonoco Products news, Director John E. Linville sold 33,746 shares of the business’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $51.54, for a total value of $1,739,268.84. Following the completion of the transaction, the director now directly owns 223,787 shares of the company’s stock, valued at $11,533,981.98. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Vicki B. Arthur sold 1,721 shares of the business’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $51.00, for a total transaction of $87,771.00. Following the completion of the transaction, the vice president now directly owns 39,753 shares of the company’s stock, valued at $2,027,403. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by company insiders.
Sonoco Products Company Profile
Sonoco Products Company (Sonoco) is a manufacturer of industrial and consumer packaging products and a provider of 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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