Sonoco Products (NYSE:SON - Get Free Report) Director John R. Haley purchased 3,000 shares of the company's stock in a transaction dated Thursday, February 27th. The stock was purchased at an average cost of $46.76 per share, with a total value of $140,280.00. Following the purchase, the director now owns 18,558 shares in the company, valued at approximately $867,772.08. This trade represents a 19.28 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Sonoco Products Stock Down 0.7 %
Shares of NYSE:SON opened at $46.57 on Friday. The firm has a market capitalization of $4.58 billion, a PE ratio of 28.22, a price-to-earnings-growth ratio of 0.76 and a beta of 0.67. Sonoco Products has a 1 year low of $44.35 and a 1 year high of $61.73. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.79 and a quick ratio of 1.91. The firm's 50-day moving average is $47.84 and its two-hundred day moving average is $50.95.
Sonoco Products (NYSE:SON - Get Free Report) last announced its earnings results on Tuesday, February 18th. The industrial products company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.01). The business had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.67 billion. Sonoco Products had a return on equity of 20.81% and a net margin of 2.60%. Analysts predict that Sonoco Products will post 6.1 EPS for the current year.
Sonoco Products Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 26th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $2.08 dividend on an annualized basis and a yield of 4.47%. Sonoco Products's dividend payout ratio (DPR) is presently 126.06%.
Institutional Investors Weigh In On Sonoco Products
Large investors have recently bought and sold shares of the stock. Kennebec Savings Bank purchased a new position in shares of Sonoco Products in the 3rd quarter valued at about $27,000. Capital Performance Advisors LLP purchased a new position in Sonoco Products in the third quarter worth approximately $33,000. Quarry LP lifted its stake in Sonoco Products by 111.3% in the fourth quarter. Quarry LP now owns 970 shares of the industrial products company's stock worth $47,000 after acquiring an additional 511 shares during the last quarter. Colonial Trust Co SC grew its holdings in Sonoco Products by 90.6% during the 4th quarter. Colonial Trust Co SC now owns 953 shares of the industrial products company's stock worth $47,000 after acquiring an additional 453 shares in the last quarter. Finally, True Wealth Design LLC increased its position in shares of Sonoco Products by 650.7% in the 4th quarter. True Wealth Design LLC now owns 1,096 shares of the industrial products company's stock valued at $54,000 after purchasing an additional 950 shares during the last quarter. Hedge funds and other institutional investors own 77.69% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the company. Bank of America upped their price objective on Sonoco Products from $66.00 to $71.00 and gave the company a "buy" rating in a report on Monday, January 6th. Robert W. Baird lowered their price target on Sonoco Products from $58.00 to $55.00 and set a "neutral" rating for the company in a report on Monday, November 4th. Wells Fargo & Company reduced their price objective on shares of Sonoco Products from $50.00 to $48.00 and set an "underweight" rating on the stock in a report on Monday. StockNews.com lowered shares of Sonoco Products from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. Finally, Truist Financial reduced their price target on shares of Sonoco Products from $68.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $58.50.
Read Our Latest Report on Sonoco Products
About Sonoco Products
(
Get Free Report)
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.
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