GW Henssler & Associates Ltd. decreased its position in Sonoco Products Co. (NYSE:SON) by 12.3% during the second quarter, Holdings Channel reports. The fund owned 4,227 shares of the company’s stock after selling 595 shares during the period. GW Henssler & Associates Ltd.’s holdings in Sonoco Products were worth $210,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Eqis Capital Management Inc. bought a new position in shares of Sonoco Products during the second quarter worth approximately $220,000. Boys Arnold & Co. Inc. increased its position in shares of Sonoco Products by 14.0% in the second quarter. Boys Arnold & Co. Inc. now owns 5,862 shares of the company’s stock worth $291,000 after buying an additional 720 shares during the last quarter. LS Investment Advisors LLC increased its position in shares of Sonoco Products by 72.8% in the second quarter. LS Investment Advisors LLC now owns 6,094 shares of the company’s stock worth $303,000 after buying an additional 2,567 shares during the last quarter. Prudential PLC bought a new position in shares of Sonoco Products during the first quarter worth approximately $369,000. Finally, First Midwest Bank Trust Division bought a new position in shares of Sonoco Products during the second quarter worth approximately $432,000. Hedge funds and other institutional investors own 68.97% of the company’s stock.
Shares of Sonoco Products Co. (NYSE:SON) traded up 0.28% during midday trading on Monday, hitting $50.57. The stock had a trading volume of 194,693 shares. The firm has a market capitalization of $5.07 billion, a PE ratio of 23.97 and a beta of 1.01. Sonoco Products Co. has a one year low of $36.56 and a one year high of $53.57. The firm’s 50-day moving average price is $51.77 and its 200-day moving average price is $49.57.
Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.05. Sonoco Products had a net margin of 4.37% and a return on equity of 17.66%. The company earned $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the prior year, the company posted $0.68 EPS. The business’s revenue was down 3.4% on a year-over-year basis. On average, equities analysts predict that Sonoco Products Co. will post $2.72 EPS for the current year.
SON has been the subject of a number of recent research reports. Jefferies Group upped their price objective on Sonoco Products from $42.00 to $46.00 and gave the stock a “hold” rating in a research note on Thursday, July 14th. Zacks Investment Research cut Sonoco Products from a “buy” rating to a “hold” rating in a research note on Monday, June 27th. Deutsche Bank AG set a $42.00 price target on Sonoco Products and gave the stock a “hold” rating in a research note on Sunday, July 24th. BMO Capital Markets reissued a “hold” rating and issued a $46.00 price target on shares of Sonoco Products in a research note on Friday, July 22nd. Finally, Vertical Research cut Sonoco Products from a “hold” rating to a “sell” rating in a research note on Friday, July 22nd. Six analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $46.25.
In related news, VP Vicki B. Arthur sold 1,721 shares of the stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $51.00, for a total transaction of $87,771.00. Following the completion of the sale, the vice president now owns 39,753 shares in the company, valued at approximately $2,027,403. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert L. Puechl sold 1,389 shares of the stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $51.23, for a total transaction of $71,158.47. Following the sale, the vice president now owns 22,629 shares of the company’s stock, valued at approximately $1,159,283.67. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.
About Sonoco Products
Sonoco Products Company (Sonoco) is a manufacturer of industrial and consumer packaging products and a provider of packaging services. The Company operates in four segments: Consumer Packaging, Paper and Industrial Converted Products, Display and Packaging, and Protective Solutions. Its Consumer Packaging segment’s products and services include round composite cans, aluminum, steel and peelable membrane easy-open closures for composite and metal cans; plastic bottles, cups and trays, and printed flexible packaging and global brand management.
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