Sonoco Products Co (SON) Shares Bought by Janus Henderson Group PLC
Janus Henderson Group PLC lifted its position in shares of Sonoco Products Co (NYSE:SON) by 56.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,011,830 shares of the industrial products company’s stock after purchasing an additional 363,692 shares during the period. Janus Henderson Group PLC owned 1.02% of Sonoco Products worth $51,047,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in SON. Caxton Associates LP acquired a new stake in Sonoco Products during the third quarter worth approximately $686,000. Jane Street Group LLC acquired a new stake in Sonoco Products during the third quarter worth approximately $296,000. Vident Investment Advisory LLC grew its position in Sonoco Products by 19.1% during the third quarter. Vident Investment Advisory LLC now owns 9,444 shares of the industrial products company’s stock worth $476,000 after buying an additional 1,516 shares in the last quarter. Allianz Asset Management GmbH grew its position in Sonoco Products by 743.7% during the third quarter. Allianz Asset Management GmbH now owns 235,196 shares of the industrial products company’s stock worth $11,865,000 after buying an additional 207,320 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in Sonoco Products during the third quarter worth approximately $3,322,000. Institutional investors own 72.27% of the company’s stock.
Shares of Sonoco Products Co (SON) opened at $53.65 on Monday. The firm has a market capitalization of $5,332.86, a price-to-earnings ratio of 20.02, a price-to-earnings-growth ratio of 4.11 and a beta of 1.15. Sonoco Products Co has a twelve month low of $47.10 and a twelve month high of $55.77. The company has a quick ratio of 1.11, a current ratio of 1.59 and a debt-to-equity ratio of 0.74.
Sonoco Products (NYSE:SON) last issued its earnings results on Thursday, October 19th. The industrial products company reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.02. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.27 billion. Sonoco Products had a return on equity of 16.40% and a net margin of 5.63%. The company’s revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 EPS. equities research analysts expect that Sonoco Products Co will post 2.8 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Friday, November 10th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date was Thursday, November 9th. Sonoco Products’s dividend payout ratio is presently 57.35%.
In other Sonoco Products news, VP Marcy J. Thompson sold 565 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $51.00, for a total value of $28,815.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Barry L. Saunders sold 5,645 shares of the firm’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $52.39, for a total value of $295,741.55. Following the completion of the sale, the chief financial officer now directly owns 60,455 shares in the company, valued at approximately $3,167,237.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,937 shares of company stock worth $363,088. Company insiders own 1.90% of the company’s stock.
A number of equities research analysts recently issued reports on SON shares. Bank of America raised Sonoco Products from an “underperform” rating to a “buy” rating and set a $56.00 price target on the stock in a research report on Wednesday, September 6th. Robert W. Baird reissued a “buy” rating and set a $60.00 price target on shares of Sonoco Products in a research report on Friday, November 10th. Zacks Investment Research downgraded Sonoco Products from a “hold” rating to a “sell” rating in a research report on Tuesday, September 19th. Jefferies Group reissued a “hold” rating and set a $48.00 price target on shares of Sonoco Products in a research report on Thursday, September 7th. Finally, KeyCorp reissued a “hold” rating on shares of Sonoco Products in a research report on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $53.00.
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Sonoco Products 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.
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