Franklin Resources Inc. Buys 3,500 Shares of Sonoco Products (NYSE:SON)

Franklin Resources Inc. increased its stake in Sonoco Products (NYSE:SONFree Report) by 16.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 24,910 shares of the industrial products company’s stock after purchasing an additional 3,500 shares during the quarter. Franklin Resources Inc.’s holdings in Sonoco Products were worth $1,392,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in SON. Vanguard Group Inc. lifted its stake in shares of Sonoco Products by 0.6% in the third quarter. Vanguard Group Inc. now owns 10,969,740 shares of the industrial products company’s stock worth $596,205,000 after buying an additional 64,047 shares during the last quarter. Brown Advisory Inc. raised its holdings in Sonoco Products by 105.0% in the 4th quarter. Brown Advisory Inc. now owns 724,637 shares of the industrial products company’s stock worth $40,485,000 after acquiring an additional 371,096 shares during the period. Foundry Partners LLC lifted its position in Sonoco Products by 36.6% during the 3rd quarter. Foundry Partners LLC now owns 72,266 shares of the industrial products company’s stock worth $3,928,000 after acquiring an additional 19,354 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in Sonoco Products during the third quarter valued at about $624,000. Finally, Financial Engines Advisors L.L.C. grew its position in shares of Sonoco Products by 84.8% in the third quarter. Financial Engines Advisors L.L.C. now owns 27,600 shares of the industrial products company’s stock valued at $1,500,000 after purchasing an additional 12,661 shares during the last quarter. Institutional investors own 77.69% of the company’s stock.

Sonoco Products Trading Down 0.6 %

Shares of SON opened at $61.08 on Wednesday. The stock’s 50-day moving average price is $58.30 and its 200 day moving average price is $57.13. The company has a quick ratio of 0.83, a current ratio of 1.31 and a debt-to-equity ratio of 1.08. Sonoco Products has a 12-month low of $49.98 and a 12-month high of $63.74. The firm has a market capitalization of $6.00 billion, a price-to-earnings ratio of 15.42, a P/E/G ratio of 2.34 and a beta of 0.72.

Sonoco Products (NYSE:SONGet Free Report) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.07. Sonoco Products had a return on equity of 20.79% and a net margin of 5.86%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period in the prior year, the company posted $1.40 earnings per share. Sonoco Products’s revenue was down 5.3% on a year-over-year basis. As a group, research analysts predict that Sonoco Products will post 5.19 earnings per share for the current year.

Sonoco Products Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be given a dividend of $0.52 per share. This is a positive change from Sonoco Products’s previous quarterly dividend of $0.51. This represents a $2.08 annualized dividend and a dividend yield of 3.41%. The ex-dividend date is Thursday, May 9th. Sonoco Products’s payout ratio is 52.53%.

Wall Street Analysts Forecast Growth

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

Check Out Our Latest Report on Sonoco Products

Sonoco Products 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.

See Also

Want to see what other hedge funds are holding SON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sonoco Products (NYSE:SONFree Report).

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

Receive News & Ratings for Sonoco Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sonoco Products and related companies with MarketBeat.com's FREE daily email newsletter.