Allianz Asset Management GmbH lowered its position in shares of Sonoco Products Co (NYSE:SON) by 1.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 231,935 shares of the industrial products company’s stock after selling 3,261 shares during the quarter. Allianz Asset Management GmbH owned about 0.23% of Sonoco Products worth $12,325,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. raised its stake in Sonoco Products by 0.5% in the fourth quarter. BlackRock Inc. now owns 10,807,162 shares of the industrial products company’s stock valued at $574,293,000 after purchasing an additional 50,184 shares in the last quarter. First Trust Advisors LP raised its stake in Sonoco Products by 12.3% during the fourth quarter. First Trust Advisors LP now owns 775,642 shares of the industrial products company’s stock worth $41,218,000 after acquiring an additional 84,665 shares in the last quarter. Capital Analysts LLC acquired a new position in Sonoco Products during the fourth quarter worth about $7,752,000. California Public Employees Retirement System raised its stake in Sonoco Products by 3.4% during the third quarter. California Public Employees Retirement System now owns 254,300 shares of the industrial products company’s stock worth $12,829,000 after acquiring an additional 8,250 shares in the last quarter. Finally, MAI Capital Management acquired a new position in Sonoco Products during the fourth quarter worth about $215,000. 70.78% of the stock is owned by institutional investors.
SON has been the topic of several research reports. KeyCorp restated a “hold” rating on shares of Sonoco Products in a report on Sunday, December 3rd. Barclays upgraded Sonoco Products from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $49.00 to $55.00 in a report on Friday, December 15th. Zacks Investment Research cut Sonoco Products from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. TheStreet cut Sonoco Products from a “b” rating to a “c+” rating in a report on Friday, February 16th. Finally, Vertical Research upgraded Sonoco Products from a “hold” rating to a “buy” rating in a report on Friday, March 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $53.71.
Shares of NYSE:SON traded down $1.22 during trading on Monday, reaching $47.28. 965,410 shares of the stock were exchanged, compared to its average volume of 518,894. The firm has a market capitalization of $4,825.14, a price-to-earnings ratio of 16.95, a PEG ratio of 3.24 and a beta of 1.12. Sonoco Products Co has a 1-year low of $46.55 and a 1-year high of $55.77. The company has a quick ratio of 1.09, a current ratio of 1.56 and a debt-to-equity ratio of 0.74.
Sonoco Products (NYSE:SON) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Sonoco Products had a net margin of 3.48% and a return on equity of 16.63%. The company’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.62 earnings per share. equities research analysts anticipate that Sonoco Products Co will post 3.2 earnings per share for the current fiscal year.
The firm 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. The ex-dividend date was Tuesday, February 27th. This represents a $1.56 dividend on an annualized basis and a yield of 3.30%. Sonoco Products’s dividend payout ratio (DPR) is presently 55.91%.
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About Sonoco Products
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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