Sonoco Products Company (SON) VP Sells $28,815.00 in Stock
Sonoco Products Company (NYSE:SON) VP Marcy J. Thompson sold 565 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $51.00, for a total transaction of $28,815.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Sonoco Products Company (NYSE SON) traded down 0.72% during midday trading on Wednesday, hitting $51.23. 662,769 shares of the stock were exchanged. The firm’s 50 day moving average price is $48.71 and its 200 day moving average price is $50.61. The company has a market cap of $5.09 billion, a PE ratio of 19.45 and a beta of 1.13. Sonoco Products Company has a 12 month low of $47.10 and a 12 month high of $55.58.
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 analysts’ consensus estimates of $0.71. Sonoco Products had a return on equity of 16.64% and a net margin of 5.61%. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter last year, the company earned $0.73 earnings per share. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, equities research analysts forecast that Sonoco Products Company will post $2.75 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Friday, August 11th were issued a $0.39 dividend. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $1.56 dividend on an annualized basis and a yield of 3.02%. Sonoco Products’s dividend payout ratio is presently 59.09%.
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Several research firms have recently issued reports on SON. Zacks Investment Research lowered shares of Sonoco Products from a “hold” rating to a “sell” rating in a report on Tuesday, September 19th. Vertical Research upgraded Sonoco Products from a “sell” rating to a “hold” rating and set a $45.00 price target on the stock in a research note on Wednesday, August 2nd. BidaskClub downgraded Sonoco Products from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Jefferies Group LLC reaffirmed a “hold” rating and set a $48.00 price objective on shares of Sonoco Products in a research report on Thursday, September 7th. Finally, Bank of America Corporation raised Sonoco Products from an “underperform” rating to a “buy” rating and set a $56.00 price objective for the company in a research report on Wednesday, September 6th. Three equities 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’s stock. Sonoco Products has an average rating of “Hold” and an average target price of $52.57.
Several institutional investors have recently modified their holdings of SON. BlackRock Inc. raised its stake in shares of Sonoco Products by 5,164.3% during the 1st quarter. BlackRock Inc. now owns 11,100,154 shares of the industrial products company’s stock worth $587,419,000 after acquiring an additional 10,889,296 shares in the last quarter. Vanguard Group Inc. lifted its position in Sonoco Products by 15.5% during the first quarter. Vanguard Group Inc. now owns 9,516,077 shares of the industrial products company’s stock valued at $503,591,000 after acquiring an additional 1,280,470 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in Sonoco Products during the second quarter valued at approximately $42,170,000. Renaissance Technologies LLC boosted its stake in Sonoco Products by 455.3% in the second quarter. Renaissance Technologies LLC now owns 806,800 shares of the industrial products company’s stock valued at $41,486,000 after acquiring an additional 661,500 shares in the last quarter. Finally, Janus Henderson Group PLC acquired a new stake in Sonoco Products in the second quarter valued at approximately $33,327,000. 72.45% of the stock is currently owned by hedge funds and other institutional investors.
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.
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