Crossmark Global Holdings Inc. Buys New Holdings in Sonoco Products Company (SON)
Crossmark Global Holdings Inc. bought a new stake in shares of Sonoco Products Company (NYSE:SON) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 11,355 shares of the industrial products company’s stock, valued at approximately $573,000.
A number of other hedge funds have also modified their holdings of SON. Harfst & Associates Inc. bought a new position in shares of Sonoco Products in the second quarter worth $126,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Sonoco Products by 18.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,752 shares of the industrial products company’s stock worth $193,000 after purchasing an additional 589 shares during the period. Seven Eight Capital LP bought a new position in shares of Sonoco Products in the second quarter worth $206,000. Tudor Investment Corp ET AL bought a new position in shares of Sonoco Products in the second quarter worth $220,000. Finally, Arete Wealth Advisors LLC bought a new position in shares of Sonoco Products in the second quarter worth $257,000. 71.95% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently weighed in on SON. Barclays PLC upped their price target on shares of Sonoco Products from $48.00 to $49.00 and gave the stock an “underweight” rating in a report on Friday, October 20th. Vertical Research cut shares of Sonoco Products from a “hold” rating to a “sell” rating in a report on Friday, July 21st. Zacks Investment Research raised shares of Sonoco Products from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. KeyCorp reaffirmed a “hold” rating on shares of Sonoco Products in a report on Thursday, October 19th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $60.00 price target on shares of Sonoco Products in a report on Friday, November 10th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $52.00.
Sonoco Products Company (NYSE SON) opened at $51.48 on Friday. Sonoco Products Company has a 1 year low of $47.10 and a 1 year high of $55.58. The stock has a market cap of $5,084.36, a price-to-earnings ratio of 19.09, a P/E/G ratio of 3.92 and a beta of 1.15. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.59 and a quick ratio of 1.11.
Sonoco Products (NYSE:SON) last announced its earnings results on Thursday, October 19th. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.02. Sonoco Products had a net margin of 5.63% and a return on equity of 16.40%. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same period in the previous year, the business earned $0.72 earnings per share. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. analysts predict that Sonoco Products Company will post 2.8 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 10th will be given a $0.39 dividend. The ex-dividend date is Thursday, November 9th. This represents a $1.56 annualized dividend and a yield of 3.03%. Sonoco Products’s dividend payout ratio (DPR) is presently 57.35%.
In related news, VP Marcy J. Thompson sold 565 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $51.00, for a total value of $28,815.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Vicki B. Arthur sold 727 shares of the company’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $53.00, for a total transaction of $38,531.00. Following the completion of the transaction, the senior vice president now owns 33,998 shares of the company’s stock, valued at $1,801,894. The disclosure for this sale can be found here. Insiders sold 6,937 shares of company stock valued at $363,088 over the last quarter. 1.90% of the stock is owned by company insiders.
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.
Receive News & Ratings for Sonoco Products Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sonoco Products Company and related companies with Analyst Ratings Network's FREE daily email newsletter.