Traders Sell Shares of Sonoco Products (SON) on Strength (SON)

Investors sold shares of Sonoco Products Co (NYSE:SON) on strength during trading hours on Friday. $4.52 million flowed into the stock on the tick-up and $10.06 million flowed out of the stock on the tick-down, for a money net flow of $5.54 million out of the stock. Of all companies tracked, Sonoco Products had the 31st highest net out-flow for the day. Sonoco Products traded up $0.05 for the day and closed at $46.65

A number of brokerages recently issued reports on SON. TheStreet downgraded Sonoco Products from a “b” rating to a “c+” rating in a report on Friday, February 16th. Barclays raised Sonoco Products from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $49.00 to $55.00 in a report on Friday, December 15th. Zacks Investment Research downgraded Sonoco Products from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. KeyCorp reaffirmed a “hold” rating on shares of Sonoco Products in a report on Sunday, December 3rd. Finally, Vertical Research raised Sonoco Products from a “hold” rating to a “buy” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. Sonoco Products currently has a consensus rating of “Hold” and a consensus price target of $53.29.

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The company has a current ratio of 1.56, a quick ratio of 1.09 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $4,768.43, a P/E ratio of 26.81, a price-to-earnings-growth ratio of 3.21 and a beta of 1.19.

Sonoco Products (NYSE:SON) last issued its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.72 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.01). Sonoco Products had a net margin of 3.48% and a return on equity of 16.63%. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the prior year, the firm posted $0.62 EPS. Sonoco Products’s quarterly revenue was up 13.7% compared to the same quarter last year. analysts anticipate that Sonoco Products Co will post 3.2 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Wednesday, February 28th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend was Tuesday, February 27th. Sonoco Products’s dividend payout ratio is currently 89.66%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Green Square Capital LLC lifted its stake in Sonoco Products by 233.9% in the fourth quarter. Green Square Capital LLC now owns 14,033 shares of the industrial products company’s stock valued at $746,000 after buying an additional 9,830 shares during the last quarter. Colonial Trust Advisors purchased a new stake in Sonoco Products in the fourth quarter valued at approximately $257,000. Xact Kapitalforvaltning AB purchased a new stake in Sonoco Products in the fourth quarter valued at approximately $439,000. MetLife Investment Advisors LLC purchased a new stake in Sonoco Products in the fourth quarter valued at approximately $3,342,000. Finally, Glenmede Trust Co. NA lifted its stake in Sonoco Products by 14.5% in the fourth quarter. Glenmede Trust Co. NA now owns 22,391 shares of the industrial products company’s stock valued at $1,189,000 after buying an additional 2,828 shares during the last quarter. Institutional investors own 70.68% of the company’s stock.

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Sonoco Products Company Profile

Sonoco Products Company is engaged in manufacturing of industrial and consumer packaging products, and providing 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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