Sonoco Products Company (SON) SVP Vicki B. Arthur Sells 727 Shares
Sonoco Products Company (NYSE:SON) SVP Vicki B. Arthur sold 727 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 33,998 shares of the company’s stock, valued at $1,801,894. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Sonoco Products Company (NYSE SON) traded down 1.37% during trading on Monday, hitting $52.38. 437,423 shares of the company traded hands. The firm has a market capitalization of $5.21 billion, a P/E ratio of 19.89 and a beta of 1.13. The stock has a 50-day moving average price of $50.01 and a 200-day moving average price of $50.48. Sonoco Products Company has a 12-month low of $47.10 and a 12-month high of $55.58.
Sonoco Products (NYSE:SON) last released its quarterly earnings results on Thursday, October 19th. The industrial products company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.27 billion. Sonoco Products had a return on equity of 16.40% and a net margin of 5.63%. Sonoco Products’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.72 EPS. Equities analysts expect that Sonoco Products Company will post $2.78 EPS for the current fiscal year.
The business also recently declared 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. This represents a $1.56 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend is Thursday, November 9th. Sonoco Products’s payout ratio is currently 57.35%.
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Several equities analysts have recently weighed in on the stock. Bank of America Corporation raised shares of Sonoco Products from an “underperform” rating to a “buy” rating and set a $56.00 price target for the company in a research note on Wednesday, September 6th. Robert W. Baird raised shares of Sonoco Products from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $55.00 to $60.00 in a research note on Wednesday, July 19th. Vertical Research raised shares of Sonoco Products from a “sell” rating to a “hold” rating and set a $45.00 price target for the company in a research note on Wednesday, August 2nd. Jefferies Group LLC reaffirmed a “hold” rating and set a $48.00 price target on shares of Sonoco Products in a research note on Thursday, August 3rd. Finally, Zacks Investment Research cut shares of Sonoco Products from a “hold” rating to a “sell” rating in a research note on Tuesday, September 19th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $52.00.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SON. Vanguard Group Inc. grew its stake in Sonoco Products by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 9,545,609 shares of the industrial products company’s stock valued at $490,835,000 after purchasing an additional 29,532 shares during the period. State Street Corp grew its stake in Sonoco Products by 1.2% in the 2nd quarter. State Street Corp now owns 6,544,078 shares of the industrial products company’s stock valued at $336,491,000 after purchasing an additional 77,004 shares during the period. Wells Fargo & Company MN grew its stake in Sonoco Products by 7.4% in the 2nd quarter. Wells Fargo & Company MN now owns 3,662,913 shares of the industrial products company’s stock valued at $188,346,000 after purchasing an additional 251,027 shares during the period. American Century Companies Inc. grew its stake in Sonoco Products by 13.1% in the 2nd quarter. American Century Companies Inc. now owns 2,229,967 shares of the industrial products company’s stock valued at $114,665,000 after purchasing an additional 257,969 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Sonoco Products by 0.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,350,804 shares of the industrial products company’s stock valued at $69,458,000 after purchasing an additional 8,370 shares during the period. 72.46% of the stock is owned by institutional investors and hedge funds.
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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