Sonoco Products Company $SON Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC lifted its position in shares of Sonoco Products Company (NYSE:SON) by 10,238.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 728,138 shares of the industrial products company’s stock after purchasing an additional 721,095 shares during the period. SG Americas Securities LLC owned about 0.74% of Sonoco Products worth $31,776,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TD Waterhouse Canada Inc. acquired a new stake in Sonoco Products in the second quarter valued at $30,000. Cornerstone Planning Group LLC acquired a new position in shares of Sonoco Products during the 3rd quarter worth about $29,000. True Wealth Design LLC increased its holdings in shares of Sonoco Products by 172.5% in the 3rd quarter. True Wealth Design LLC now owns 744 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 471 shares during the last quarter. Ameriflex Group Inc. increased its holdings in shares of Sonoco Products by 1,263.6% in the 3rd quarter. Ameriflex Group Inc. now owns 900 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 834 shares during the last quarter. Finally, Larson Financial Group LLC raised its position in shares of Sonoco Products by 1,826.9% during the 3rd quarter. Larson Financial Group LLC now owns 1,002 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 950 shares in the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.

Insider Buying and Selling

In related news, insider Ernest D. Haynes III sold 1,581 shares of the stock in a transaction on Friday, February 27th. The shares were sold at an average price of $56.39, for a total transaction of $89,152.59. Following the completion of the sale, the insider owned 9,377 shares in the company, valued at $528,769.03. This represents a 14.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.98% of the stock is currently owned by company insiders.

Sonoco Products Stock Up 1.8%

Shares of NYSE SON opened at $53.46 on Thursday. The business has a 50-day moving average price of $52.16 and a 200 day moving average price of $46.06. The stock has a market cap of $5.29 billion, a PE ratio of 5.31, a price-to-earnings-growth ratio of 1.06 and a beta of 0.51. The company has a quick ratio of 0.60, a current ratio of 1.05 and a debt-to-equity ratio of 1.04. Sonoco Products Company has a 52-week low of $38.65 and a 52-week high of $58.44.

Sonoco Products (NYSE:SON) last released its quarterly earnings results on Tuesday, February 17th. The industrial products company reported $1.05 EPS for the quarter, topping the consensus estimate of $1.01 by $0.04. Sonoco Products had a return on equity of 18.52% and a net margin of 13.34%.The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the company posted $1.17 earnings per share. The firm’s revenue was up 29.7% compared to the same quarter last year. Equities research analysts forecast that Sonoco Products Company will post 6.1 earnings per share for the current year.

Sonoco Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 25th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Wednesday, February 25th. Sonoco Products’s payout ratio is presently 21.05%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SON shares. Zacks Research raised Sonoco Products from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. UBS Group raised their price objective on shares of Sonoco Products from $48.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, February 19th. Citigroup boosted their price objective on shares of Sonoco Products from $52.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. Bank of America upgraded shares of Sonoco Products from a “neutral” rating to a “buy” rating and upped their target price for the company from $56.00 to $60.00 in a report on Monday, January 5th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Sonoco Products in a research report on Wednesday, January 21st. Four investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $62.13.

Sonoco Products Company Profile

Sonoco Products Company (NYSE: SON) is a global provider of diversified packaging solutions, serving a wide range of consumer, industrial and retail markets. The company offers a broad portfolio that includes rigid paper and plastic containers, flexible packaging, industrial core and tube products, thermoformed plastics, retail point-of-purchase displays, and packaging supply chain services. Through its solutions, Sonoco helps customers in food and beverage, personal care, chemicals, healthcare, home and garden, and electronics industries address their packaging needs, improve product shelf appeal, and optimize logistics efficiency.

With operations in more than 30 countries across North America, South America, Europe, Asia and Africa, Sonoco leverages a global network of manufacturing facilities, recycling centers and distribution channels to meet the demands of multinational and regional customers.