BlackRock Inc. increased its position in Sonoco Products Co (NYSE:SON) by 1.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,511,630 shares of the industrial products company’s stock after purchasing an additional 203,903 shares during the quarter. BlackRock Inc. owned 0.12% of Sonoco Products worth $752,172,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Krane Funds Advisors LLC purchased a new position in shares of Sonoco Products in the second quarter valued at $25,000. Captrust Financial Advisors boosted its stake in shares of Sonoco Products by 84.4% in the second quarter. Captrust Financial Advisors now owns 651 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 298 shares during the period. FinTrust Capital Advisors LLC boosted its stake in shares of Sonoco Products by 311.5% in the second quarter. FinTrust Capital Advisors LLC now owns 679 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 514 shares during the period. Kavar Capital Partners LLC purchased a new position in shares of Sonoco Products in the second quarter valued at $46,000. Finally, Machina Capital S.A.S. purchased a new position in shares of Sonoco Products in the second quarter valued at $56,000. Institutional investors and hedge funds own 73.54% of the company’s stock.
NYSE SON opened at $58.74 on Friday. Sonoco Products Co has a 12 month low of $50.30 and a 12 month high of $66.57. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.20 and a quick ratio of 0.82. The company has a market capitalization of $5.83 billion, a price-to-earnings ratio of 17.43, a price-to-earnings-growth ratio of 3.66 and a beta of 0.88. The company’s fifty day moving average price is $57.84 and its two-hundred day moving average price is $60.65.
Sonoco Products (NYSE:SON) last posted its quarterly earnings data on Thursday, October 17th. The industrial products company reported $0.97 EPS for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.06. Sonoco Products had a net margin of 5.99% and a return on equity of 20.08%. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the prior year, the firm posted $0.86 EPS. The firm’s revenue was down .8% compared to the same quarter last year. As a group, analysts anticipate that Sonoco Products Co will post 3.54 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.43 per share. The ex-dividend date is Thursday, November 7th. This represents a $1.72 dividend on an annualized basis and a yield of 2.93%. Sonoco Products’s dividend payout ratio (DPR) is 51.04%.
SON has been the subject of several analyst reports. ValuEngine upgraded shares of Sonoco Products from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Bank of America downgraded shares of Sonoco Products from a “neutral” rating to an “underperform” rating in a research note on Friday, July 12th. BMO Capital Markets upgraded shares of Sonoco Products from an “underperform” rating to a “market perform” rating and set a $56.00 target price for the company in a research note on Friday, October 18th. Vertical Research upgraded shares of Sonoco Products from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Finally, KeyCorp restated a “hold” rating on shares of Sonoco Products in a research note on Thursday, July 18th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. Sonoco Products currently has an average rating of “Hold” and a consensus target price of $60.33.
Sonoco Products Company Profile
Sonoco Products Company manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through four segments: Consumer Packaging, Display and Packaging, Paper and Industrial Converted Products, and Protective Solutions. The Consumer Packaging segment offers composite and thermoformed plastic round and shaped rigid containers and trays; extruded and injection-molded plastic products; printed flexible packaging products; brand artwork management; and metal and peelable membrane ends and closures.
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