Gentry Private Wealth LLC Takes $328,000 Position in Sonoco Products (NYSE:SON)

Gentry Private Wealth LLC purchased a new stake in shares of Sonoco Products (NYSE:SON) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 6,464 shares of the industrial products company’s stock, valued at approximately $328,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wedmont Private Capital increased its stake in Sonoco Products by 2.8% in the 1st quarter. Wedmont Private Capital now owns 6,541 shares of the industrial products company’s stock worth $382,000 after buying an additional 178 shares in the last quarter. Richardson Financial Services Inc. increased its stake in Sonoco Products by 5.7% in the 1st quarter. Richardson Financial Services Inc. now owns 3,345 shares of the industrial products company’s stock worth $193,000 after buying an additional 180 shares in the last quarter. Curbstone Financial Management Corp grew its position in shares of Sonoco Products by 0.7% during the first quarter. Curbstone Financial Management Corp now owns 27,750 shares of the industrial products company’s stock valued at $1,605,000 after purchasing an additional 200 shares in the last quarter. FinTrust Capital Advisors LLC grew its position in shares of Sonoco Products by 78.8% during the first quarter. FinTrust Capital Advisors LLC now owns 490 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 216 shares in the last quarter. Finally, Sterling Investment Counsel LLC grew its position in shares of Sonoco Products by 5.2% during the first quarter. Sterling Investment Counsel LLC now owns 5,460 shares of the industrial products company’s stock valued at $316,000 after purchasing an additional 270 shares in the last quarter. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Sonoco Products Stock Down 0.4 %

Shares of NYSE SON opened at $55.02 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.30 and a quick ratio of 0.85. Sonoco Products has a 1 year low of $54.28 and a 1 year high of $56.66. The company has a market cap of $5.41 billion, a P/E ratio of 13.89, a PEG ratio of 2.20 and a beta of 0.68. The firm has a 50-day simple moving average of $51.63 and a two-hundred day simple moving average of $55.49.

Sonoco Products (NYSE:SON) last released its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.02. The business had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Sonoco Products had a net margin of 5.57% and a return on equity of 20.10%. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.38 EPS. Research analysts anticipate that Sonoco Products will post 5.09 earnings per share for the current year.

Sonoco Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 3.78%. Sonoco Products’s dividend payout ratio is currently 52.53%.

Analysts Set New Price Targets

SON has been the subject of a number of research analyst reports. Wells Fargo & Company lowered Sonoco Products from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $54.00 to $52.00 in a research report on Wednesday, August 21st. Raymond James initiated coverage on shares of Sonoco Products in a report on Friday, July 19th. They issued an “outperform” rating and a $62.00 price target for the company. StockNews.com downgraded shares of Sonoco Products from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 3rd. Finally, Citigroup lowered their price target on shares of Sonoco Products from $64.00 to $60.00 and set a “buy” rating for the company in a report on Monday, July 8th. One analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

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.