JPMorgan Chase & Co. grew its position in shares of Sonoco Products (NYSE:SON - Free Report) by 3.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 528,494 shares of the industrial products company's stock after buying an additional 20,075 shares during the quarter. JPMorgan Chase & Co. owned 0.54% of Sonoco Products worth $25,817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of SON. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Sonoco Products by 107.3% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 5,559 shares of the industrial products company's stock valued at $272,000 after purchasing an additional 2,877 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its position in Sonoco Products by 3.5% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 125,972 shares of the industrial products company's stock valued at $6,154,000 after buying an additional 4,253 shares during the period. Prudential Financial Inc. increased its holdings in Sonoco Products by 15.3% during the fourth quarter. Prudential Financial Inc. now owns 147,436 shares of the industrial products company's stock valued at $7,382,000 after buying an additional 19,590 shares during the last quarter. Vanguard Group Inc. raised its position in Sonoco Products by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 11,128,725 shares of the industrial products company's stock worth $543,638,000 after acquiring an additional 120,843 shares during the period. Finally, LPL Financial LLC boosted its stake in shares of Sonoco Products by 6.3% during the 4th quarter. LPL Financial LLC now owns 57,798 shares of the industrial products company's stock worth $2,823,000 after acquiring an additional 3,400 shares during the last quarter. Hedge funds and other institutional investors own 77.69% of the company's stock.
Insider Buying and Selling at Sonoco Products
In other Sonoco Products news, CEO R. Howard Coker acquired 20,000 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were purchased at an average cost of $46.10 per share, for a total transaction of $922,000.00. Following the completion of the purchase, the chief executive officer now owns 482,365 shares in the company, valued at approximately $22,237,026.50. This trade represents a 4.33 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John R. Haley acquired 3,000 shares of Sonoco Products stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average cost of $46.76 per share, with a total value of $140,280.00. Following the purchase, the director now directly owns 18,558 shares of the company's stock, valued at $867,772.08. This represents a 19.28 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.74% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the company. Truist Financial decreased their target price on Sonoco Products from $68.00 to $60.00 and set a "buy" rating on the stock in a report on Friday, February 21st. Bank of America raised their target price on shares of Sonoco Products from $66.00 to $71.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. StockNews.com upgraded shares of Sonoco Products from a "sell" rating to a "hold" rating in a research note on Wednesday, March 5th. Wells Fargo & Company cut their target price on Sonoco Products from $50.00 to $48.00 and set an "underweight" rating for the company in a research report on Monday, February 24th. Finally, Citigroup lowered their target price on shares of Sonoco Products from $59.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $58.50.
View Our Latest Stock Report on SON
Sonoco Products Trading Up 1.9 %
Shares of NYSE:SON traded up $0.83 during trading on Friday, hitting $43.32. The company had a trading volume of 588,285 shares, compared to its average volume of 742,911. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of 26.25, a price-to-earnings-growth ratio of 0.76 and a beta of 0.64. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.79 and a quick ratio of 1.91. The company has a fifty day simple moving average of $46.28 and a two-hundred day simple moving average of $49.12. Sonoco Products has a one year low of $39.46 and a one year high of $61.73.
Sonoco Products (NYSE:SON - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.18 by ($0.01). The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.67 billion. Sonoco Products had a return on equity of 20.81% and a net margin of 2.60%. As a group, equities analysts forecast that Sonoco Products will post 6.1 earnings per share for the current year.
Sonoco Products Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 26th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $2.08 annualized dividend and a yield of 4.80%. Sonoco Products's payout ratio is currently 126.06%.
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.
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