Shelton Capital Management Lowers Stock Position in Sonoco Products (NYSE:SON)

Shelton Capital Management trimmed its position in Sonoco Products (NYSE:SON) by 3.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 4,807 shares of the industrial products company’s stock after selling 186 shares during the period. Shelton Capital Management’s holdings in Sonoco Products were worth $284,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Ameritas Advisory Services LLC bought a new position in Sonoco Products in the 1st quarter valued at $36,000. Global Retirement Partners LLC raised its holdings in shares of Sonoco Products by 316.2% in the 2nd quarter. Global Retirement Partners LLC now owns 795 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 604 shares during the period. Dark Forest Capital Management LP purchased a new position in Sonoco Products in the first quarter valued at approximately $50,000. Pinnacle Holdings LLC purchased a new stake in Sonoco Products in the first quarter worth $58,000. Finally, Tradition Wealth Management LLC bought a new stake in shares of Sonoco Products in the first quarter valued at $67,000. Institutional investors own 76.20% of the company’s stock.

Analyst Upgrades and Downgrades

SON has been the subject of several recent research reports. Citigroup decreased their price objective on Sonoco Products from $69.00 to $65.00 in a report on Tuesday, October 10th. Argus downgraded Sonoco Products from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Wells Fargo & Company decreased their target price on shares of Sonoco Products from $55.00 to $50.00 and set an “equal weight” rating on the stock in a report on Thursday, October 19th. Finally, StockNews.com downgraded shares of Sonoco Products from a “buy” rating to a “hold” rating in a report on Monday, November 13th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $61.40.

Sonoco Products Stock Down 0.0 %

SON stock opened at $55.13 on Tuesday. Sonoco Products has a 1-year low of $49.98 and a 1-year high of $63.74. The stock has a market cap of $5.40 billion, a price-to-earnings ratio of 11.11, a price-to-earnings-growth ratio of 2.07 and a beta of 0.71. The company has a current ratio of 1.89, a quick ratio of 1.19 and a debt-to-equity ratio of 1.37. The company’s 50 day moving average is $53.68 and its 200 day moving average is $56.78.

Sonoco Products (NYSE:SON) last posted its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.23. Sonoco Products had a net margin of 7.20% and a return on equity of 24.40%. The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter last year, the company posted $1.60 EPS. The business’s quarterly revenue was down 9.5% on a year-over-year basis. Sell-side analysts predict that Sonoco Products will post 5.3 EPS for the current fiscal year.

Sonoco Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 10th will be issued a dividend of $0.51 per share. The ex-dividend date is Thursday, November 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.70%. Sonoco Products’s dividend payout ratio is 41.13%.

Sonoco Products Company Profile

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 through two segments: Consumer Packaging and Industrial Paper Packaging.