Sonoco Products Co (SON) Stake Lessened by Texas Permanent School Fund

Texas Permanent School Fund decreased its holdings in Sonoco Products Co (NYSE:SON) by 2.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 62,670 shares of the industrial products company’s stock after selling 1,590 shares during the quarter. Texas Permanent School Fund owned 0.06% of Sonoco Products worth $3,478,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Pratt Collard Advisory Partners LLC bought a new position in shares of Sonoco Products in the third quarter worth $206,000. Nisa Investment Advisors LLC grew its stake in shares of Sonoco Products by 22.6% in 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 in the last quarter. First Hawaiian Bank bought a new position in shares of Sonoco Products in the third quarter worth $398,000. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in shares of Sonoco Products in the third quarter worth $161,000. Finally, Clinton Group Inc. bought a new position in Sonoco Products during the third quarter valued at about $433,000. 70.56% of the stock is owned by institutional investors.

Shares of SON stock opened at $54.94 on Wednesday. The company has a quick ratio of 1.19, a current ratio of 1.66 and a debt-to-equity ratio of 0.72. Sonoco Products Co has a fifty-two week low of $46.55 and a fifty-two week high of $58.69. The stock has a market cap of $5.23 billion, a P/E ratio of 19.69, a PEG ratio of 3.42 and a beta of 1.07.



Sonoco Products (NYSE:SON) last released its quarterly earnings results on Thursday, October 18th. The industrial products company reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.06. Sonoco Products had a return on equity of 18.42% and a net margin of 4.53%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the company posted $0.76 EPS. Sonoco Products’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, sell-side analysts predict that Sonoco Products Co will post 3.32 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 9th will be given a $0.41 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.99%. Sonoco Products’s dividend payout ratio (DPR) is 58.78%.

In related news, SVP Kevin P. Mahoney sold 1,138 shares of the stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $56.11, for a total value of $63,853.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Marcy J. Thompson sold 693 shares of the stock in a transaction on Monday, October 22nd. The shares were sold at an average price of $55.00, for a total value of $38,115.00. Following the completion of the transaction, the vice president now owns 15,410 shares of the company’s stock, valued at approximately $847,550. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Several research analysts recently weighed in on SON shares. Zacks Investment Research cut Sonoco Products from a “buy” rating to a “hold” rating in a research note on Wednesday, September 19th. KeyCorp reaffirmed a “hold” rating on shares of Sonoco Products in a research note on Thursday, October 18th. DA Davidson raised their target price on Sonoco Products to $57.00 and gave the company a “neutral” rating in a research note on Friday, July 20th. Finally, Barclays raised their target price on Sonoco Products from $55.00 to $58.00 and gave the company a “$56.02” rating in a research note on Monday, July 23rd. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $59.00.

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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Institutional Ownership by Quarter for Sonoco Products (NYSE:SON)

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