Oregon Public Employees Retirement Fund Has $2.02 Million Stake in Sonoco Products Co (SON)
Oregon Public Employees Retirement Fund lifted its stake in Sonoco Products Co (NYSE:SON) by 3.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 38,408 shares of the industrial products company’s stock after acquiring an additional 1,120 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Sonoco Products were worth $2,016,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Sonoco Products by 29.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,606 shares of the industrial products company’s stock worth $320,000 after acquiring an additional 1,514 shares during the last quarter. Trexquant Investment LP acquired a new position in shares of Sonoco Products during the 1st quarter worth approximately $278,000. Victory Capital Management Inc. increased its holdings in shares of Sonoco Products by 16,955.9% during the 1st quarter. Victory Capital Management Inc. now owns 300,866 shares of the industrial products company’s stock worth $14,592,000 after acquiring an additional 299,102 shares during the last quarter. Prudential Financial Inc. increased its holdings in shares of Sonoco Products by 310.4% during the 1st quarter. Prudential Financial Inc. now owns 387,583 shares of the industrial products company’s stock worth $18,798,000 after acquiring an additional 293,140 shares during the last quarter. Finally, Swiss National Bank increased its holdings in shares of Sonoco Products by 2.3% during the 1st quarter. Swiss National Bank now owns 173,200 shares of the industrial products company’s stock worth $8,400,000 after acquiring an additional 3,900 shares during the last quarter. Hedge funds and other institutional investors own 70.52% of the company’s stock.
Shares of NYSE SON opened at $58.03 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.07 and a debt-to-equity ratio of 0.71. Sonoco Products Co has a one year low of $46.55 and a one year high of $58.08. The firm has a market capitalization of $5.74 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 3.70 and a beta of 1.07.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 10th. Shareholders of record on Friday, August 10th were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend was Thursday, August 9th. Sonoco Products’s dividend payout ratio is 58.78%.
In other Sonoco Products news, SVP Vicki B. Arthur sold 1,305 shares of the company’s stock in a transaction on Friday, July 20th. The stock was sold at an average price of $56.81, for a total value of $74,137.05. Following the transaction, the senior vice president now directly owns 23,534 shares of the company’s stock, valued at approximately $1,336,966.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Barry L. Saunders sold 6,580 shares of the company’s stock in a transaction on Tuesday, July 24th. The shares were sold at an average price of $55.85, for a total value of $367,493.00. Following the completion of the transaction, the chief financial officer now directly owns 91,181 shares in the company, valued at $5,092,458.85. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,133 shares of company stock worth $1,669,969. Insiders own 1.70% of the company’s stock.
SON has been the topic of a number of recent analyst reports. Zacks Investment Research raised Sonoco Products from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Thursday, May 17th. Barclays boosted their target price on Sonoco Products from $55.00 to $58.00 and gave the stock a “$56.02” rating in a report on Monday, July 23rd. Finally, DA Davidson boosted their target price on Sonoco Products to $57.00 and gave the stock a “neutral” rating in a report on Friday, July 20th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $58.67.
Sonoco Products Profile
Sonoco Products Company manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through four segments: Consumer Packaging, Display and Packaging, Paper and Industrial Converted Products, and Protective Solutions. The Consumer Packaging segment offers composite and thermoformed plastic round and shaped rigid containers and trays; extruded and injection-molded plastic products; printed flexible packaging products; brand artwork management; and metal and peelable membrane ends and closures.
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