Pratt Collard Advisory Partners LLC bought a new stake in Sonoco Products Co (NYSE:SON) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 3,717 shares of the industrial products company’s stock, valued at approximately $206,000.
A number of other large investors have also recently modified their holdings of SON. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in Sonoco Products in the third quarter valued at approximately $161,000. Itau Unibanco Holding S.A. acquired a new stake in Sonoco Products in the second quarter valued at approximately $183,000. UMB Bank N A MO acquired a new stake in Sonoco Products in the second quarter valued at approximately $201,000. Dividend Assets Capital LLC acquired a new stake in Sonoco Products in the second quarter valued at approximately $201,000. Finally, Financial Gravity Wealth Inc. acquired a new stake in Sonoco Products in the first quarter valued at approximately $203,000. 70.53% of the stock is currently owned by hedge funds and other institutional investors.
SON has been the topic of several analyst reports. Barclays raised their price objective on shares of Sonoco Products from $55.00 to $58.00 and gave the stock a “$56.02” rating in a report on Monday, July 23rd. Zacks Investment Research raised shares of Sonoco Products from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a report on Wednesday, August 1st. KeyCorp reissued a “hold” rating on shares of Sonoco Products in a report on Thursday. Finally, DA Davidson raised their price objective on shares of Sonoco Products to $57.00 and gave the stock a “neutral” rating in a report on Friday, July 20th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $59.00.
SON stock traded up $0.50 during midday trading on Friday, reaching $55.55. 63,126 shares of the company were exchanged, compared to its average volume of 501,389. The company has a current ratio of 1.53, a quick ratio of 1.07 and a debt-to-equity ratio of 0.71. Sonoco Products Co has a 1-year low of $46.55 and a 1-year high of $58.69. The stock has a market cap of $5.25 billion, a P/E ratio of 19.97, a PEG ratio of 3.42 and a beta of 1.07.
Sonoco Products (NYSE:SON) last released its quarterly earnings data on Thursday, October 18th. The industrial products company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. Sonoco Products had a net margin of 4.57% and a return on equity of 18.01%. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter last year, the company earned $0.76 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, equities research analysts predict that Sonoco Products Co will post 3.31 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 9th will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.64 dividend on an annualized basis and a yield of 2.95%. Sonoco Products’s payout ratio is currently 58.78%.
About Sonoco Products
Sonoco Products Company manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through four segments: Consumer Packaging, Display and Packaging, Paper and Industrial Converted Products, and Protective Solutions. The Consumer Packaging segment offers composite and thermoformed plastic round and shaped rigid containers and trays; extruded and injection-molded plastic products; printed flexible packaging products; brand artwork management; and metal and peelable membrane ends and closures.
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