Janney Montgomery Scott LLC Acquires 376 Shares of Sonoco Products (NYSE:SON)

Janney Montgomery Scott LLC boosted its holdings in Sonoco Products (NYSE:SONFree Report) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,593 shares of the industrial products company’s stock after purchasing an additional 376 shares during the period. Janney Montgomery Scott LLC’s holdings in Sonoco Products were worth $759,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. FMR LLC increased its stake in shares of Sonoco Products by 1,231.2% during the 3rd quarter. FMR LLC now owns 694,263 shares of the industrial products company’s stock worth $37,733,000 after purchasing an additional 642,109 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Sonoco Products by 20.2% in the third quarter. American Century Companies Inc. now owns 2,787,019 shares of the industrial products company’s stock valued at $151,474,000 after buying an additional 467,431 shares during the period. AQR Capital Management LLC lifted its position in shares of Sonoco Products by 436.0% during the 3rd quarter. AQR Capital Management LLC now owns 283,810 shares of the industrial products company’s stock valued at $15,425,000 after buying an additional 230,862 shares during the last quarter. Sei Investments Co. grew its stake in shares of Sonoco Products by 17.1% during the 3rd quarter. Sei Investments Co. now owns 974,833 shares of the industrial products company’s stock worth $52,982,000 after acquiring an additional 142,592 shares during the period. Finally, Qube Research & Technologies Ltd increased its holdings in Sonoco Products by 94.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 290,660 shares of the industrial products company’s stock worth $15,797,000 after acquiring an additional 140,934 shares during the last quarter. Institutional investors own 77.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Citigroup decreased their price target on Sonoco Products from $66.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, April 4th. TheStreet lowered shares of Sonoco Products from a “b-” rating to a “c+” rating in a report on Wednesday, February 14th. Finally, Wells Fargo & Company increased their target price on shares of Sonoco Products from $56.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Sonoco Products currently has an average rating of “Moderate Buy” and an average target price of $63.33.

Get Our Latest Stock Report on SON

Insider Buying and Selling at Sonoco Products

In other news, VP Adam Wood sold 537 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $57.04, for a total value of $30,630.48. Following the completion of the sale, the vice president now owns 28,273 shares of the company’s stock, valued at approximately $1,612,691.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.51% of the company’s stock.

Sonoco Products Stock Up 2.4 %

SON stock opened at $61.37 on Friday. Sonoco Products has a 1-year low of $49.98 and a 1-year high of $63.74. The stock has a market cap of $6.03 billion, a price-to-earnings ratio of 15.50, a price-to-earnings-growth ratio of 2.34 and a beta of 0.68. The company has a current ratio of 1.31, a quick ratio of 0.83 and a debt-to-equity ratio of 1.08. The company’s 50 day moving average is $58.12 and its 200 day moving average is $57.04.

Sonoco Products (NYSE:SONGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.07. Sonoco Products had a net margin of 5.86% and a return on equity of 20.79%. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter last year, the company posted $1.40 EPS. The business’s quarterly revenue was down 5.3% on a year-over-year basis. Sell-side analysts predict that Sonoco Products will post 5.19 EPS for the current fiscal year.

Sonoco Products Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.08 annualized dividend and a yield of 3.39%. This is a positive change from Sonoco Products’s previous quarterly dividend of $0.51. Sonoco Products’s dividend payout ratio is currently 52.53%.

Sonoco Products Company Profile

(Free Report)

Sonoco Products Company, together with its subsidiaries, designs, develops, manufactures, and sells various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates Consumer Packaging and Industrial Paper Packaging segments. The Consumer Packaging segment offers round and shaped rigid paper, steel, and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays and enclosures; and high-barrier flexible packaging products.

Further Reading

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

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