Sonoco Products Co (NYSE:SON) – Investment analysts at KeyCorp increased their FY2017 earnings estimates for shares of Sonoco Products in a research report issued on Sunday. KeyCorp analyst A. Josephson now anticipates that the industrial products company will post earnings of $2.81 per share for the year, up from their prior forecast of $2.79. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Sonoco Products’ Q4 2017 earnings at $0.74 EPS and FY2018 earnings at $3.04 EPS.

Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Thursday, October 19th. The industrial products company reported $0.76 EPS for the quarter, topping the consensus estimate 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 net margin of 5.63% and a return on equity of 16.40%. The company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 EPS.

Several other brokerages also recently commented on SON. Barclays raised their price objective on shares of Sonoco Products from $48.00 to $49.00 and gave the stock an “underweight” rating in a research report on Friday, October 20th. Zacks Investment Research raised shares of Sonoco Products from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. Robert W. Baird reaffirmed a “buy” rating and set a $60.00 price objective on shares of Sonoco Products in a research report on Friday, November 10th. Jefferies Group 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 raised shares of 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. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $52.00.

Shares of Sonoco Products (SON) opened at $55.45 on Tuesday. The company has a market cap of $5,347.77, a P/E ratio of 20.08, a PEG ratio of 4.12 and a beta of 1.15. Sonoco Products has a 52-week low of $47.10 and a 52-week high of $55.77. The company has a current ratio of 1.59, a quick ratio of 1.11 and a debt-to-equity ratio of 0.74.

The company 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 $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend is Thursday, November 9th. Sonoco Products’s dividend payout ratio is currently 57.35%.

In related news, SVP Vicki B. Arthur sold 727 shares of the stock in a transaction on Friday, October 20th. The stock was sold at an average price of $53.00, for a total value of $38,531.00. Following the transaction, the senior vice president now directly owns 33,998 shares in the company, valued at approximately $1,801,894. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Marcy J. Thompson sold 565 shares of the 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 6,937 shares of company stock worth $363,088. 1.90% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. California Public Employees Retirement System lifted its stake in Sonoco Products by 3.4% during the 3rd quarter. California Public Employees Retirement System now owns 254,300 shares of the industrial products company’s stock valued at $12,829,000 after acquiring an additional 8,250 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Sonoco Products by 28.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 30,597 shares of the industrial products company’s stock valued at $1,544,000 after acquiring an additional 6,722 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Sonoco Products during the 3rd quarter valued at $15,695,000. Janus Henderson Group PLC lifted its stake in Sonoco Products by 56.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,011,830 shares of the industrial products company’s stock valued at $51,047,000 after acquiring an additional 363,692 shares in the last quarter. Finally, Caxton Associates LP bought a new position in Sonoco Products during the 3rd quarter valued at $686,000. Institutional investors own 72.27% of the company’s stock.

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About Sonoco Products

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.

Earnings History and Estimates for Sonoco Products (NYSE:SON)

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