Sonoco Products (NYSE:SON) Stock Holdings Reduced by Country Club Bank GFN

Country Club Bank GFN lowered its position in Sonoco Products (NYSE:SON) by 3.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,472 shares of the industrial products company’s stock after selling 3,072 shares during the quarter. Country Club Bank GFN owned approximately 0.08% of Sonoco Products worth $4,422,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Treasurer of the State of North Carolina lifted its position in shares of Sonoco Products by 0.4% during the 2nd quarter. Treasurer of the State of North Carolina now owns 42,717 shares of the industrial products company’s stock worth $2,521,000 after purchasing an additional 180 shares during the last quarter. Captrust Financial Advisors lifted its position in shares of Sonoco Products by 0.9% during the 2nd quarter. Captrust Financial Advisors now owns 21,341 shares of the industrial products company’s stock worth $1,260,000 after purchasing an additional 189 shares during the last quarter. Johnson Investment Counsel Inc. raised its holdings in Sonoco Products by 0.6% in the 3rd quarter. Johnson Investment Counsel Inc. now owns 31,339 shares of the industrial products company’s stock valued at $1,703,000 after acquiring an additional 200 shares in the last quarter. Curbstone Financial Management Corp raised its holdings in Sonoco Products by 0.7% in the 4th quarter. Curbstone Financial Management Corp now owns 27,550 shares of the industrial products company’s stock valued at $1,539,000 after acquiring an additional 200 shares in the last quarter. Finally, Creative Planning raised its holdings in Sonoco Products by 2.3% in the 3rd quarter. Creative Planning now owns 9,080 shares of the industrial products company’s stock valued at $494,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SON shares. Wells Fargo & Company dropped their target price on Sonoco Products from $58.00 to $56.00 and set an “equal weight” rating for the company in a report on Tuesday, February 20th. TheStreet cut Sonoco Products from a “b-” rating to a “c+” rating in a report on Wednesday, February 14th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.00.

Sonoco Products Trading Down 0.6 %

SON traded down $0.33 during mid-day trading on Monday, reaching $57.51. The stock had a trading volume of 90,490 shares, compared to its average volume of 438,060. The stock has a market capitalization of $5.64 billion, a P/E ratio of 11.97, a P/E/G ratio of 2.20 and a beta of 0.68. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.10 and a current ratio of 1.76. The firm’s fifty day simple moving average is $57.03 and its two-hundred day simple moving average is $55.57. Sonoco Products has a 52 week low of $49.98 and a 52 week high of $63.74.

Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Thursday, February 15th. The industrial products company reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.02). Sonoco Products had a net margin of 7.00% and a return on equity of 22.42%. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the business posted $1.27 earnings per share. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. On average, equities analysts predict that Sonoco Products will post 5.25 EPS for the current year.

Sonoco Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Wednesday, February 28th were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend was Tuesday, February 27th. Sonoco Products’s payout ratio is presently 42.50%.

Insider Buying and Selling

In other Sonoco Products news, VP Adam Wood sold 537 shares of Sonoco Products stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $57.04, for a total value of $30,630.48. Following the sale, the vice president now owns 28,273 shares of the company’s stock, valued at approximately $1,612,691.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Adam Wood sold 537 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $57.04, for a total value of $30,630.48. Following the transaction, the vice president now owns 28,273 shares in the company, valued at approximately $1,612,691.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Russell K. Grissett sold 2,039 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $56.06, for a total transaction of $114,306.34. Following the completion of the sale, the insider now directly owns 11,988 shares of the company’s stock, valued at approximately $672,047.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,076 shares of company stock valued at $749,002. 0.51% of the stock is owned by company insiders.

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 Consumer Packaging and Industrial Paper Packaging segments. The Consumer Packaging segment offers round and shaped rigid paper, steel, and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays and enclosures; and high-barrier flexible packaging products.