Evercore Wealth Management LLC held its position in Sonoco Products Company (NYSE:SON) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,303 shares of the industrial products company’s stock at the close of the second quarter. Evercore Wealth Management LLC’s holdings in Sonoco Products were worth $170,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SON. UBS Asset Management Americas Inc. raised its holdings in shares of Sonoco Products by 19.5% during the 1st quarter. UBS Asset Management Americas Inc. now owns 70,855 shares of the industrial products company’s stock valued at $3,750,000 after purchasing an additional 11,574 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Sonoco Products by 26.3% during the 1st quarter. Sei Investments Co. now owns 28,420 shares of the industrial products company’s stock valued at $1,504,000 after purchasing an additional 5,923 shares in the last quarter. TD Asset Management Inc. raised its holdings in shares of Sonoco Products by 5.6% during the 1st quarter. TD Asset Management Inc. now owns 20,038 shares of the industrial products company’s stock valued at $1,060,000 after purchasing an additional 1,070 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Sonoco Products by 37.6% during the 1st quarter. JPMorgan Chase & Co. now owns 612,518 shares of the industrial products company’s stock valued at $32,415,000 after purchasing an additional 167,263 shares in the last quarter. Finally, Prudential Financial Inc. raised its holdings in shares of Sonoco Products by 9.3% during the 1st quarter. Prudential Financial Inc. now owns 85,067 shares of the industrial products company’s stock valued at $4,502,000 after purchasing an additional 7,256 shares in the last quarter. Institutional investors and hedge funds own 72.45% of the company’s stock.

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Sonoco Products Company (SON) opened at 50.45 on Friday. The company has a 50-day moving average of $48.45 and a 200 day moving average of $50.87. Sonoco Products Company has a one year low of $47.10 and a one year high of $55.58. The company has a market cap of $5.01 billion, a P/E ratio of 19.15 and a beta of 1.12.

Sonoco Products (NYSE:SON) last issued its quarterly earnings data on Thursday, July 20th. The industrial products company reported $0.71 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.71. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. Sonoco Products had a net margin of 5.61% and a return on equity of 16.64%. The company’s revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.73 earnings per share. Equities research analysts predict that Sonoco Products Company will post $2.75 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 11th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 3.09%. The ex-dividend date was Wednesday, August 9th. Sonoco Products’s payout ratio is presently 59.09%.

A number of research firms have recently weighed in on SON. Zacks Investment Research downgraded shares of Sonoco Products from a “hold” rating to a “sell” rating in a report on Tuesday, September 19th. Jefferies Group LLC restated a “hold” rating and set a $48.00 price target on shares of Sonoco Products in a report on Thursday, September 7th. Bank of America Corporation upgraded shares of Sonoco Products from an “underperform” rating to a “buy” rating and set a $56.00 price target on the stock in a report on Wednesday, September 6th. Robert W. Baird restated a “buy” rating and set a $60.00 price target on shares of Sonoco Products in a report on Friday, September 1st. Finally, Vertical Research upgraded shares of Sonoco Products from a “sell” rating to a “hold” rating and set a $45.00 price target on the stock in a report on Wednesday, August 2nd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. Sonoco Products presently has an average rating of “Hold” and a consensus target price 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.

Institutional Ownership by Quarter for Sonoco Products (NYSE:SON)

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