Captrust Financial Advisors Takes Position in Sonoco Products Company (SON)
Captrust Financial Advisors bought a new stake in shares of Sonoco Products Company (NYSE:SON) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 8,331 shares of the industrial products company’s stock, valued at approximately $428,000.
Other hedge funds have also made changes to their positions in the company. Pictet Asset Management Ltd. bought a new stake in shares of Sonoco Products during the 1st quarter valued at $106,000. Meadow Creek Investment Management LLC boosted its holdings in shares of Sonoco Products by 11.5% during the 1st quarter. Meadow Creek Investment Management LLC now owns 3,264 shares of the industrial products company’s stock valued at $173,000 after buying an additional 336 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Sonoco Products by 18.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,752 shares of the industrial products company’s stock valued at $193,000 after buying an additional 589 shares in the last quarter. Clinton Group Inc. bought a new stake in shares of Sonoco Products during the 1st quarter valued at $208,000. Finally, Seven Eight Capital LP bought a new stake in shares of Sonoco Products during the 2nd quarter valued at $206,000. Hedge funds and other institutional investors own 72.57% of the company’s stock.
A number of brokerages have recently commented on SON. Vertical Research cut shares of Sonoco Products from a “hold” rating to a “sell” rating in a report on Friday, July 21st. Robert W. Baird upgraded shares of Sonoco Products from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $55.00 to $60.00 in a report on Wednesday, July 19th. BidaskClub upgraded shares of Sonoco Products from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Zacks Investment Research upgraded shares of Sonoco Products from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Thursday, June 22nd. Finally, Jefferies Group LLC restated a “neutral” rating on shares of Sonoco Products in a report on Wednesday, June 28th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Sonoco Products has an average rating of “Hold” and an average target price of $52.57.
Sonoco Products Company (NYSE:SON) traded down 0.25% during trading on Friday, hitting $48.54. The stock had a trading volume of 98,090 shares. The stock’s 50-day moving average is $48.46 and its 200-day moving average is $51.02. The stock has a market capitalization of $4.82 billion, a PE ratio of 18.43 and a beta of 1.12. Sonoco Products Company has a 52-week low of $47.10 and a 52-week high of $55.58.
Sonoco Products (NYSE:SON) last issued its quarterly earnings data on Thursday, July 20th. The industrial products company reported $0.71 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.71. Sonoco Products had a return on equity of 16.64% and a net margin of 5.61%. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter last year, the company earned $0.73 earnings per share. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, analysts predict that Sonoco Products Company will post $2.75 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 11th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend was Wednesday, August 9th. Sonoco Products’s payout ratio is currently 59.09%.
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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