Sonoco Products (NYSE:SON) Insider Ernest D. Haynes III Sells 1,673 Shares

Sonoco Products (NYSE:SONGet Rating) insider Ernest D. Haynes III sold 1,673 shares of Sonoco Products stock in a transaction on Friday, July 29th. The shares were sold at an average price of $63.00, for a total transaction of $105,399.00. Following the completion of the sale, the insider now owns 5,063 shares in the company, valued at approximately $318,969. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Sonoco Products Price Performance

SON opened at $63.93 on Tuesday. The stock has a 50-day moving average price of $58.01 and a 200-day moving average price of $58.84. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.36 and a quick ratio of 0.80. The firm has a market cap of $6.23 billion, a PE ratio of 14.94, a P/E/G ratio of 2.01 and a beta of 0.73. Sonoco Products has a 1 year low of $51.52 and a 1 year high of $67.06.

Sonoco Products (NYSE:SONGet Rating) last posted its quarterly earnings results on Thursday, July 21st. The industrial products company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.09. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.91 billion. Sonoco Products had a return on equity of 28.33% and a net margin of 6.47%. Sonoco Products’s quarterly revenue was up 38.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 EPS. Sell-side analysts predict that Sonoco Products will post 6.33 earnings per share for the current fiscal year.

Sonoco Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Wednesday, August 10th will be given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Tuesday, August 9th. Sonoco Products’s dividend payout ratio (DPR) is 45.79%.

Analyst Ratings Changes

Several research firms recently weighed in on SON. Wells Fargo & Company lifted their price target on shares of Sonoco Products to $67.00 in a report on Friday, July 22nd. StockNews.com upgraded shares of Sonoco Products from a “hold” rating to a “buy” rating in a report on Friday. Citigroup lifted their price target on shares of Sonoco Products to $73.00 in a report on Monday, July 25th. TheStreet raised Sonoco Products from a “c+” rating to a “b-” rating in a research report on Thursday, July 21st. Finally, Seaport Res Ptn lowered Sonoco Products from a “buy” rating to a “neutral” rating in a research report on Friday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Sonoco Products has an average rating of “Hold” and an average price target of $65.57.

Hedge Funds Weigh In On Sonoco Products

A number of hedge funds have recently bought and sold shares of SON. State Street Corp raised its position in Sonoco Products by 13.4% in the 1st quarter. State Street Corp now owns 8,240,829 shares of the industrial products company’s stock worth $515,546,000 after buying an additional 972,157 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Sonoco Products during the 1st quarter valued at about $51,618,000. Millennium Management LLC grew its stake in shares of Sonoco Products by 726.5% during the 4th quarter. Millennium Management LLC now owns 725,881 shares of the industrial products company’s stock valued at $42,021,000 after purchasing an additional 638,057 shares during the period. American Century Companies Inc. grew its stake in shares of Sonoco Products by 9.0% during the 4th quarter. American Century Companies Inc. now owns 6,757,817 shares of the industrial products company’s stock valued at $391,210,000 after purchasing an additional 557,876 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in shares of Sonoco Products during the 1st quarter valued at about $34,642,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

About Sonoco Products

(Get Rating)

Sonoco Products Company, together with its subsidiaries, manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through two segments: Consumer Packaging and Industrial Paper Packaging. The Consumer Packaging segment round and shaped rigid paper containers; metal and peelable membrane ends and closures; thermoformed plastic trays and containers; printed flexible packaging; and global brand artwork management.

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