Quest Partners LLC lowered its holdings in shares of Sonoco Products (NYSE:SON - Free Report) by 47.6% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,567 shares of the industrial products company's stock after selling 18,689 shares during the period. Quest Partners LLC's holdings in Sonoco Products were worth $1,043,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of SON. International Assets Investment Management LLC increased its holdings in Sonoco Products by 5,486.7% in the 4th quarter. International Assets Investment Management LLC now owns 9,274 shares of the industrial products company's stock worth $518,000 after purchasing an additional 9,108 shares in the last quarter. Private Advisor Group LLC increased its holdings in Sonoco Products by 165.0% in the 4th quarter. Private Advisor Group LLC now owns 5,656 shares of the industrial products company's stock worth $316,000 after purchasing an additional 14,364 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Sonoco Products by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 662,156 shares of the industrial products company's stock worth $36,995,000 after purchasing an additional 20,153 shares in the last quarter. Principal Securities Inc. acquired a new position in Sonoco Products in the 4th quarter worth about $71,000. Finally, Teacher Retirement System of Texas increased its holdings in Sonoco Products by 6.1% in the 4th quarter. Teacher Retirement System of Texas now owns 23,789 shares of the industrial products company's stock worth $1,329,000 after purchasing an additional 1,372 shares in the last quarter. Institutional investors and hedge funds own 77.69% of the company's stock.
Sonoco Products Trading Down 0.8 %
Shares of Sonoco Products stock traded down $0.44 on Wednesday, hitting $53.80. 607,055 shares of the company's stock traded hands, compared to its average volume of 563,042. Sonoco Products has a one year low of $52.76 and a one year high of $55.08. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.30 and a quick ratio of 0.85. The company has a fifty day moving average of $51.89 and a two-hundred day moving average of $55.42. The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 2.13 and a beta of 0.68.
Sonoco Products (NYSE:SON - Get Free Report) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.26 by $0.02. Sonoco Products had a return on equity of 20.10% and a net margin of 5.57%. The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the prior year, the company earned $1.38 EPS. The firm's revenue for the quarter was down 4.8% compared to the same quarter last year. As a group, sell-side analysts expect that Sonoco Products will post 5.09 earnings per share for the current year.
Sonoco Products Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 3.87%. Sonoco Products's payout ratio is 52.53%.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the company. Raymond James initiated coverage on Sonoco Products in a report on Friday, July 19th. They issued an "outperform" rating and a $62.00 target price for the company. Wells Fargo & Company lowered Sonoco Products from an "equal weight" rating to an "underweight" rating and reduced their price target for the company from $54.00 to $52.00 in a research report on Wednesday, August 21st. Citigroup reduced their price target on Sonoco Products from $64.00 to $60.00 and set a "buy" rating on the stock in a research report on Monday, July 8th. Finally, StockNews.com lowered Sonoco Products from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $58.00.
View Our Latest Report on SON
About Sonoco Products
(
Free Report)
Sonoco Products Company, together with its subsidiaries, designs, develops, manufactures, and sells various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates Consumer Packaging and Industrial Paper Packaging segments. The Consumer Packaging segment offers round and shaped rigid paper, steel, and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays and enclosures; and high-barrier flexible packaging products.
Further Reading
Before you consider Sonoco Products, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sonoco Products wasn't on the list.
While Sonoco Products currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
