Great West Life Assurance Co. Can Buys 6,097 Shares of Sonoco Products (NYSE:SON)

Great West Life Assurance Co. Can raised its stake in shares of Sonoco Products (NYSE:SONGet Rating) by 9.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 70,220 shares of the industrial products company’s stock after acquiring an additional 6,097 shares during the period. Great West Life Assurance Co. Can’s holdings in Sonoco Products were worth $3,984,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of SON. Centerpoint Advisors LLC bought a new position in Sonoco Products during the 2nd quarter valued at about $33,000. Sugarloaf Wealth Management LLC bought a new position in Sonoco Products during the 3rd quarter valued at about $39,000. Private Trust Co. NA lifted its stake in Sonoco Products by 66.8% during the 3rd quarter. Private Trust Co. NA now owns 684 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 274 shares during the period. SeaCrest Wealth Management LLC bought a new position in Sonoco Products during the 2nd quarter valued at about $46,000. Finally, Venture Visionary Partners LLC bought a new position in shares of Sonoco Products in the 2nd quarter worth approximately $49,000. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Sonoco Products

In other Sonoco Products news, insider Ernest D. Haynes III sold 652 shares of the stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $58.60, for a total transaction of $38,207.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.47% of the company’s stock.

Sonoco Products Trading Up 1.5 %

Shares of SON opened at $59.26 on Monday. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.37 and a quick ratio of 0.79. Sonoco Products has a 1 year low of $51.52 and a 1 year high of $67.06. The company has a 50 day simple moving average of $60.23 and a two-hundred day simple moving average of $60.78. The firm has a market cap of $5.78 billion, a P/E ratio of 13.47, a price-to-earnings-growth ratio of 2.03 and a beta of 0.73.

Sonoco Products (NYSE:SONGet Rating) last announced its quarterly earnings data on Monday, October 31st. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.17. Sonoco Products had a net margin of 6.19% and a return on equity of 31.56%. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same period last year, the firm posted $0.91 EPS. The company’s revenue was up 33.6% on a year-over-year basis. On average, equities analysts expect that Sonoco Products will post 6.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on SON. Citigroup increased their price objective on shares of Sonoco Products from $70.00 to $71.00 in a research note on Wednesday, January 4th. Bank of America upgraded shares of Sonoco Products from an “underperform” rating to a “buy” rating and set a $76.00 price objective on the stock in a research note on Thursday, October 13th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Sonoco Products from $65.00 to $61.00 in a research note on Wednesday, November 2nd. Wells Fargo & Company decreased their target price on shares of Sonoco Products from $67.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 2nd. Finally, StockNews.com upgraded shares of Sonoco Products from a “hold” rating to a “buy” rating in a research note on Friday, December 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Sonoco Products currently has a consensus rating of “Hold” and a consensus price target of $66.00.

About Sonoco Products

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Sonoco Products Co engages in the manufacture of industrial and consumer packaging products and services. It operates through the following segments: Consumer Packaging, Paper and Industrial Converted Products, Protective Solutions, and Display and Packaging. The Consumer Packaging segment offers round and shaped rigid containers, fiber and plastic caulk and adhesive tubes, and aluminum, steel, and peelable membrane easy-open closures for paper and metal cans.

See Also

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

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