Sonoco Products Co (NYSE:SON) CFO Barry L. Saunders sold 5,547 shares of the company’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $59.68, for a total transaction of $331,044.96. Following the completion of the sale, the chief financial officer now directly owns 77,719 shares in the company, valued at $4,638,269.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Shares of NYSE:SON opened at $60.35 on Thursday. The firm has a market cap of $5.88 billion, a price-to-earnings ratio of 17.91, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. Sonoco Products Co has a 1-year low of $46.55 and a 1-year high of $61.79. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.95 and a current ratio of 1.40.
Sonoco Products (NYSE:SON) last issued its earnings results on Thursday, February 14th. The industrial products company reported $0.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.03. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Sonoco Products had a net margin of 5.82% and a return on equity of 18.94%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.72 earnings per share. As a group, equities research analysts anticipate that Sonoco Products Co will post 3.52 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 8th. Shareholders of record on Wednesday, February 27th will be issued a dividend of $0.41 per share. The ex-dividend date is Tuesday, February 26th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.72%. Sonoco Products’s dividend payout ratio (DPR) is 48.66%.
Several large investors have recently modified their holdings of SON. First Hawaiian Bank acquired a new stake in shares of Sonoco Products during the third quarter worth $398,000. Nisa Investment Advisors LLC raised its holdings in shares of Sonoco Products by 22.6% during the third quarter. Nisa Investment Advisors LLC now owns 40,140 shares of the industrial products company’s stock worth $2,228,000 after purchasing an additional 7,400 shares during the period. Howland Capital Management LLC acquired a new stake in shares of Sonoco Products in the 3rd quarter worth about $210,000. IFP Advisors Inc increased its holdings in shares of Sonoco Products by 32.5% in the 3rd quarter. IFP Advisors Inc now owns 5,157 shares of the industrial products company’s stock worth $286,000 after acquiring an additional 1,265 shares during the period. Finally, W.E. Donoghue & Co. LLC increased its holdings in shares of Sonoco Products by 86.8% in the 3rd quarter. W.E. Donoghue & Co. LLC now owns 17,123 shares of the industrial products company’s stock worth $950,000 after acquiring an additional 7,958 shares during the period. 72.58% of the stock is currently owned by institutional investors.
Several research firms recently issued reports on SON. Zacks Investment Research cut shares of Sonoco Products from a “buy” rating to a “hold” rating in a report on Monday, December 17th. KeyCorp reaffirmed a “hold” rating on shares of Sonoco Products in a report on Thursday, February 14th. Finally, Wells Fargo & Co set a $55.00 price target on shares of Sonoco Products and gave the company a “hold” rating in a report on Monday, December 10th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $56.67.
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About Sonoco Products
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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