Sonoco Products Company (SON) CFO Sells $295,741.55 in Stock
Sonoco Products Company (NYSE:SON) CFO Barry L. Saunders sold 5,645 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $52.39, for a total transaction of $295,741.55. Following the transaction, the chief financial officer now owns 60,455 shares of the company’s stock, valued at approximately $3,167,237.45. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Sonoco Products Company (NYSE:SON) traded down 1.13% during mid-day trading on Friday, hitting $51.67. 216,427 shares of the stock traded hands. Sonoco Products Company has a 1-year low of $47.10 and a 1-year high of $55.58. The firm has a market capitalization of $5.14 billion, a P/E ratio of 19.62 and a beta of 1.13. The company has a 50-day moving average of $50.28 and a 200 day moving average of $50.47.
Sonoco Products (NYSE:SON) last announced its 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 company had revenue of $1.32 billion during 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 firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 earnings per share. On average, equities research analysts anticipate that Sonoco Products Company will post $2.78 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 10th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.99%. Sonoco Products’s dividend payout ratio is presently 57.35%.
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Several research firms have issued reports on SON. Bank of America Corporation upgraded shares of Sonoco Products from an “underperform” rating to a “buy” rating and set a $56.00 price target for the company in a report on Wednesday, September 6th. Robert W. Baird upgraded 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 report on Wednesday, July 19th. Vertical Research upgraded shares of Sonoco Products from a “sell” rating to a “hold” rating and set a $45.00 price target for the company in a report on Wednesday, August 2nd. Jefferies Group LLC restated a “hold” rating and set a $48.00 price target on shares of Sonoco Products in a report on Thursday, August 3rd. Finally, Zacks Investment Research lowered shares of Sonoco Products from a “hold” rating to a “sell” rating in a report on Tuesday, September 19th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $52.00.
Several institutional investors have recently made changes to their positions in SON. UBS Asset Management Americas Inc. raised its holdings in shares of Sonoco Products by 19.5% during the first quarter. UBS Asset Management Americas Inc. now owns 70,855 shares of the industrial products company’s stock valued at $3,750,000 after acquiring an additional 11,574 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in shares of Sonoco Products by 33.3% during the first quarter. Neuberger Berman Group LLC now owns 7,965 shares of the industrial products company’s stock valued at $422,000 after acquiring an additional 1,990 shares in the last quarter. United Services Automobile Association raised its holdings in shares of Sonoco Products by 109.6% during the first quarter. United Services Automobile Association now owns 18,360 shares of the industrial products company’s stock valued at $972,000 after acquiring an additional 9,600 shares in the last quarter. Teachers Advisors LLC raised its holdings in shares of Sonoco Products by 9.4% during the first quarter. Teachers Advisors LLC now owns 116,032 shares of the industrial products company’s stock valued at $6,140,000 after acquiring an additional 9,924 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in shares of Sonoco Products by 8.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,190 shares of the industrial products company’s stock valued at $222,000 after acquiring an additional 342 shares in the last quarter. Institutional investors own 71.74% of the company’s stock.
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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