Sonoco Products Co (SON) Holdings Lifted by Louisiana State Employees Retirement System

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Louisiana State Employees Retirement System raised its holdings in Sonoco Products Co (NYSE:SON) by 1.1% during the first quarter, Holdings Channel reports. The fund owned 26,800 shares of the industrial products company’s stock after purchasing an additional 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Sonoco Products were worth $1,649,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its holdings in shares of Sonoco Products by 1.3% in the third quarter. Bank of New York Mellon Corp now owns 1,385,579 shares of the industrial products company’s stock valued at $76,899,000 after buying an additional 17,255 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Sonoco Products by 60.4% in the third quarter. Franklin Resources Inc. now owns 12,326 shares of the industrial products company’s stock valued at $684,000 after buying an additional 4,640 shares during the last quarter. Standard Life Aberdeen plc raised its holdings in shares of Sonoco Products by 37.8% in the third quarter. Standard Life Aberdeen plc now owns 7,927 shares of the industrial products company’s stock valued at $440,000 after buying an additional 2,176 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Sonoco Products in the third quarter valued at about $445,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Sonoco Products by 29.6% in the third quarter. JPMorgan Chase & Co. now owns 667,632 shares of the industrial products company’s stock valued at $37,053,000 after buying an additional 152,423 shares during the last quarter. Hedge funds and other institutional investors own 74.49% of the company’s stock.

In other news, SVP R. Howard Coker sold 6,474 shares of the business’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $59.78, for a total transaction of $387,015.72. Following the transaction, the senior vice president now directly owns 212,341 shares in the company, valued at $12,693,744.98. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Rodger D. Fuller sold 6,224 shares of the business’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $59.90, for a total transaction of $372,817.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,829 shares of company stock worth $1,245,466. Company insiders own 1.30% of the company’s stock.

Shares of NYSE:SON opened at $61.25 on Wednesday. Sonoco Products Co has a one year low of $49.71 and a one year high of $62.96. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.40 and a quick ratio of 0.95. The stock has a market capitalization of $6.27 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 3.82 and a beta of 1.01.

Sonoco Products (NYSE:SON) last announced its earnings results on Thursday, February 14th. The industrial products company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. Sonoco Products had a net margin of 5.82% and a return on equity of 18.94%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the prior year, the company earned $0.72 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. As a group, sell-side analysts predict that Sonoco Products Co will post 3.52 EPS for the current year.

A number of equities research analysts have recently commented on the stock. Vertical Research cut shares of Sonoco Products from a “hold” rating to a “sell” rating in a report on Tuesday. Wells Fargo & Co reaffirmed a “hold” rating on shares of Sonoco Products in a report on Thursday, February 14th. KeyCorp reaffirmed a “hold” rating on shares of Sonoco Products in a report on Thursday, February 14th. Finally, Zacks Investment Research reaffirmed a “hold” rating and issued a $56.00 target price on shares of Sonoco Products in a report on Monday, December 31st. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Sonoco Products presently has a consensus rating of “Hold” and an average price target of $56.50.

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Sonoco Products Company Profile

Sonoco Products Company manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through four segments: Consumer Packaging, Display and Packaging, Paper and Industrial Converted Products, and Protective Solutions. The Consumer Packaging segment offers composite and thermoformed plastic round and shaped rigid containers and trays; extruded and injection-molded plastic products; printed flexible packaging products; brand artwork management; and metal and peelable membrane ends and closures.

Further Reading: What is a portfolio manager?

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Institutional Ownership by Quarter for Sonoco Products (NYSE:SON)

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