Sonoco Products Company (NYSE:SON) Position Boosted by Advisor Partners LLC
Advisor Partners LLC increased its stake in shares of Sonoco Products Company (NYSE:SON) by 0.1% during the second quarter, Holdings Channel reports. The institutional investor owned 6,349 shares of the industrial products company’s stock after buying an additional 4 shares during the period. Advisor Partners LLC’s holdings in Sonoco Products were worth $326,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of SON. Financial Engines Advisors L.L.C. boosted its stake in Sonoco Products by 0.4% in the first quarter. Financial Engines Advisors L.L.C. now owns 11,448 shares of the industrial products company’s stock valued at $606,000 after buying an additional 40 shares in the last quarter. Global X Management Co. LLC boosted its stake in Sonoco Products by 1.0% in the first quarter. Global X Management Co. LLC now owns 4,954 shares of the industrial products company’s stock valued at $262,000 after buying an additional 50 shares in the last quarter. World Asset Management Inc boosted its stake in Sonoco Products by 0.8% in the second quarter. World Asset Management Inc now owns 6,896 shares of the industrial products company’s stock valued at $355,000 after buying an additional 57 shares in the last quarter. Bank of Montreal Can boosted its stake in Sonoco Products by 0.7% in the second quarter. Bank of Montreal Can now owns 12,995 shares of the industrial products company’s stock valued at $669,000 after buying an additional 88 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its stake in Sonoco Products by 1.6% in the first quarter. Meeder Asset Management Inc. now owns 9,127 shares of the industrial products company’s stock valued at $483,000 after buying an additional 144 shares in the last quarter. 73.92% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Sonoco Products Company (NYSE:SON) opened at 47.97 on Friday. Sonoco Products Company has a one year low of $47.97 and a one year high of $55.58. The firm has a market capitalization of $4.77 billion, a PE ratio of 18.21 and a beta of 1.12. The firm’s 50 day moving average is $50.39 and its 200-day moving average is $52.01.
Sonoco Products (NYSE:SON) last issued its earnings results on Thursday, July 20th. The industrial products company reported $0.71 EPS for the quarter, hitting the consensus estimate of $0.71. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Sonoco Products had a return on equity of 16.64% and a net margin of 5.61%. Sonoco Products’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the business earned $0.73 earnings per share. On average, equities research analysts predict that Sonoco Products Company will post $2.75 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 11th will be given a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $1.56 annualized dividend and a yield of 3.25%. Sonoco Products’s dividend payout ratio (DPR) is currently 59.09%.
Several analysts recently issued reports on the stock. DA Davidson raised shares of Sonoco Products from an “underperform” rating to a “neutral” rating and upped their price target for the company from $48.00 to $54.00 in a report on Friday, April 21st. BidaskClub raised shares of Sonoco Products from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Barclays PLC reaffirmed an “underweight” rating and issued a $48.00 price target (up from $45.00) on shares of Sonoco Products in a report on Monday, July 24th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $48.00 price target (up from $47.00) on shares of Sonoco Products in a report on Sunday, April 23rd. Finally, Zacks Investment Research cut shares of Sonoco Products from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Sonoco Products has an average rating of “Hold” and an average 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.
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