Shufro Rose & Co. LLC Trims Stock Holdings in Sonoco Products (NYSE:SON)

Shufro Rose & Co. LLC lowered its position in Sonoco Products (NYSE:SONGet Rating) by 92.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,624 shares of the industrial products company’s stock after selling 249,190 shares during the quarter. Shufro Rose & Co. LLC’s holdings in Sonoco Products were worth $1,290,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of SON. CWM LLC acquired a new position in shares of Sonoco Products in the fourth quarter valued at approximately $27,000. Quadrant Capital Group LLC grew its holdings in Sonoco Products by 80.0% during the first quarter. Quadrant Capital Group LLC now owns 468 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 208 shares during the period. UMB Bank N A MO acquired a new position in Sonoco Products during the fourth quarter worth $54,000. Norwood Financial Corp acquired a new position in Sonoco Products during the fourth quarter worth $78,000. Finally, Confluence Wealth Services Inc. acquired a new position in Sonoco Products during the fourth quarter worth $99,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Sonoco Products Stock Down 0.1 %

Shares of NYSE:SON opened at $61.12 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.36 and a debt-to-equity ratio of 1.41. Sonoco Products has a 52-week low of $51.52 and a 52-week high of $67.06. The stock’s fifty day simple moving average is $58.45 and its 200-day simple moving average is $58.97. The company has a market capitalization of $5.96 billion, a P/E ratio of 14.28, a P/E/G ratio of 1.93 and a beta of 0.73.

Sonoco Products (NYSE:SONGet Rating) last issued its quarterly earnings data on Thursday, July 21st. The industrial products company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.09. Sonoco Products had a return on equity of 28.33% and a net margin of 6.47%. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the prior year, the business earned $0.84 earnings per share. The business’s revenue was up 38.4% on a year-over-year basis. As a group, equities research analysts forecast that Sonoco Products will post 6.33 earnings per share for the current fiscal year.

Sonoco Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Wednesday, August 10th will be given a dividend of $0.49 per share. The ex-dividend date is Tuesday, August 9th. This represents a $1.96 annualized dividend and a yield of 3.21%. Sonoco Products’s dividend payout ratio (DPR) is presently 45.79%.

Insider Buying and Selling

In related news, insider Ernest D. Haynes III sold 1,673 shares of the stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $63.00, for a total transaction of $105,399.00. Following the transaction, the insider now directly owns 5,063 shares in the company, valued at $318,969. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Ernest D. Haynes III sold 1,673 shares of the firm’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $63.00, for a total value of $105,399.00. Following the transaction, the insider now directly owns 5,063 shares in the company, valued at approximately $318,969. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Rodger D. Fuller sold 1,898 shares of the stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $62.53, for a total value of $118,681.94. Following the completion of the sale, the chief operating officer now owns 83,818 shares of the company’s stock, valued at approximately $5,241,139.54. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on SON shares. Citigroup upped their price objective on Sonoco Products to $73.00 in a report on Monday, July 25th. Wells Fargo & Company upped their price objective on Sonoco Products to $67.00 in a report on Friday, July 22nd. Seaport Res Ptn lowered Sonoco Products from a “buy” rating to a “neutral” rating in a report on Friday, April 22nd. StockNews.com raised Sonoco Products from a “hold” rating to a “buy” rating in a report on Friday, July 29th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Sonoco Products from $63.00 to $65.00 in a report on Monday, April 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $65.57.

Sonoco Products Company Profile

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Sonoco Products Company, together with its subsidiaries, manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through two segments: Consumer Packaging and Industrial Paper Packaging. The Consumer Packaging segment round and shaped rigid paper containers; metal and peelable membrane ends and closures; thermoformed plastic trays and containers; printed flexible packaging; and global brand artwork management.

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

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