Green Square Capital LLC Has $406,000 Position in Sonoco Products Company (SON)
Green Square Capital LLC lifted its stake in shares of Sonoco Products Company (NYSE:SON) by 17.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,894 shares of the industrial products company’s stock after buying an additional 1,147 shares during the period. Green Square Capital LLC’s holdings in Sonoco Products were worth $406,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in SON. Harfst & Associates Inc. purchased a new position in shares of Sonoco Products during the second quarter valued at approximately $126,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Sonoco Products by 18.6% during the second 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 during the last quarter. Seven Eight Capital LP purchased a new position in shares of Sonoco Products during the second quarter valued at approximately $206,000. Clinton Group Inc. purchased a new position in shares of Sonoco Products during the first quarter valued at approximately $208,000. Finally, Tudor Investment Corp ET AL purchased a new position in shares of Sonoco Products during the second quarter valued at approximately $220,000. 72.45% of the stock is currently owned by institutional investors.
Several research analysts recently issued reports on the company. BidaskClub raised Sonoco Products from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Robert W. Baird raised Sonoco Products from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $55.00 to $60.00 in a research report on Wednesday, July 19th. Barclays PLC reaffirmed an “underweight” rating and set a $48.00 target price (up previously from $45.00) on shares of Sonoco Products in a research report on Monday, July 24th. Jefferies Group LLC reiterated a “hold” rating and set a $48.00 price target on shares of Sonoco Products in a report on Thursday, August 3rd. Finally, Vertical Research lowered Sonoco Products from a “hold” rating to a “sell” rating in a report on Friday, July 21st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $51.83.
Shares of Sonoco Products Company (NYSE SON) traded up 0.73% during mid-day trading on Friday, reaching $51.36. The company had a trading volume of 768,856 shares. The company has a market capitalization of $5.10 billion, a price-to-earnings ratio of 19.50 and a beta of 1.13. Sonoco Products Company has a one year low of $47.10 and a one year high of $55.58. The company has a 50 day moving average price of $48.92 and a 200 day moving average price of $50.60.
Sonoco Products (NYSE:SON) last announced its earnings results on Thursday, July 20th. The industrial products company reported $0.71 EPS for the quarter, hitting the Zacks’ consensus estimate 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 analysts’ expectations of $1.22 billion. During the same period last year, the firm earned $0.73 EPS. Sonoco Products’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, analysts anticipate that Sonoco Products Company will post $2.75 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 11th were issued a $0.39 dividend. The ex-dividend date was Wednesday, August 9th. This represents a $1.56 dividend on an annualized basis and a yield of 3.04%. Sonoco Products’s dividend payout ratio is currently 59.09%.
COPYRIGHT VIOLATION WARNING: This piece was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece on another site, it was copied illegally and reposted in violation of international copyright law. The correct version of this piece can be viewed at https://www.thecerbatgem.com/2017/10/08/green-square-capital-llc-has-406000-position-in-sonoco-products-company-son.html.
In related news, VP Marcy J. Thompson sold 565 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $51.00, for a total value of $28,815.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.90% of the stock is currently owned by company insiders.
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.
Receive News & Stock Ratings for Sonoco Products Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sonoco Products Company and related stocks with our FREE daily email newsletter.