Sonoco Products Company (SON) Shares Bought by Trillium Asset Management LLC
Trillium Asset Management LLC raised its stake in shares of Sonoco Products Company (NYSE:SON) by 4.0% during the second quarter, Holdings Channel reports. The fund owned 74,629 shares of the industrial products company’s stock after buying an additional 2,882 shares during the period. Trillium Asset Management LLC’s holdings in Sonoco Products were worth $3,837,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Sonoco Products by 5,164.3% in the first quarter. BlackRock Inc. now owns 11,100,154 shares of the industrial products company’s stock valued at $587,419,000 after buying an additional 10,889,296 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Sonoco Products by 15.5% in the first quarter. Vanguard Group Inc. now owns 9,516,077 shares of the industrial products company’s stock valued at $503,591,000 after buying an additional 1,280,470 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Sonoco Products by 21.4% in the first quarter. American Century Companies Inc. now owns 1,971,998 shares of the industrial products company’s stock valued at $104,358,000 after buying an additional 347,375 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Sonoco Products by 9.0% in the first quarter. Wells Fargo & Company MN now owns 3,411,886 shares of the industrial products company’s stock valued at $180,558,000 after buying an additional 280,668 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Sonoco Products by 18.2% in the first quarter. AQR Capital Management LLC now owns 1,234,161 shares of the industrial products company’s stock valued at $65,311,000 after buying an additional 190,402 shares during the last quarter. Institutional investors own 75.39% of the company’s stock.
Sonoco Products Company (NYSE SON) opened at 48.61 on Tuesday. Sonoco Products Company has a 12-month low of $47.52 and a 12-month high of $55.58. The company has a market capitalization of $4.83 billion, a price-to-earnings ratio of 18.45 and a beta of 1.12. The stock has a 50 day moving average price of $50.24 and a 200 day moving average price of $51.88.
Sonoco Products (NYSE:SON) last announced its earnings results on Thursday, July 20th. The industrial products company reported $0.71 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.71. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. Sonoco Products had a net margin of 5.61% and a return on equity of 16.64%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.73 EPS. On average, analysts expect that Sonoco Products Company will post $2.75 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 11th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Wednesday, August 9th. Sonoco Products’s payout ratio is 59.09%.
SON has been the topic of several research analyst reports. Jefferies Group LLC restated a “hold” rating and set a $48.00 target price (up previously from $47.00) on shares of Sonoco Products in a research report on Sunday, April 23rd. DA Davidson raised Sonoco Products from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $48.00 to $54.00 in a research note on Friday, April 21st. Vertical Research raised Sonoco Products from a “sell” rating to a “hold” rating and set a $45.00 price target on the stock in a research note on Wednesday, August 2nd. Barclays PLC reaffirmed an “underweight” rating and set a $48.00 price target (up from $45.00) on shares of Sonoco Products in a research note on Monday, July 24th. Finally, Bank of America Corporation upped their price target on Sonoco Products from $55.00 to $56.00 and gave the stock an “underperform” rating in a research note on Friday, July 21st. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $52.57.
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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