6,464 Shares in Sonoco Products (NYSE:SON) Bought by Gentry Private Wealth LLC

Gentry Private Wealth LLC purchased a new position in shares of Sonoco Products (NYSE:SON) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 6,464 shares of the industrial products company’s stock, valued at approximately $328,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wedmont Private Capital raised its stake in Sonoco Products by 2.8% during the 1st quarter. Wedmont Private Capital now owns 6,541 shares of the industrial products company’s stock worth $382,000 after acquiring an additional 178 shares in the last quarter. Richardson Financial Services Inc. increased its stake in Sonoco Products by 5.7% in the first quarter. Richardson Financial Services Inc. now owns 3,345 shares of the industrial products company’s stock valued at $193,000 after purchasing an additional 180 shares during the period. Curbstone Financial Management Corp increased its stake in Sonoco Products by 0.7% in 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 during the period. FinTrust Capital Advisors LLC increased its stake in Sonoco Products by 78.8% in 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 during the period. Finally, Sterling Investment Counsel LLC increased its stake in Sonoco Products by 5.2% in 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 during the period. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Sonoco Products Stock Down 0.4 %

Shares of NYSE:SON opened at $55.02 on Friday. The company has a market cap of $5.41 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 2.20 and a beta of 0.68. The firm’s 50-day simple moving average is $51.63 and its 200-day simple moving average is $55.49. The company has a quick ratio of 0.85, a current ratio of 1.30 and a debt-to-equity ratio of 1.04. Sonoco Products has a fifty-two week low of $54.28 and a fifty-two week high of $56.66.

Sonoco Products (NYSE:SON) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.02. The business had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.69 billion. Sonoco Products had a net margin of 5.57% and a return on equity of 20.10%. The business’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.38 earnings per share. As a group, equities research analysts predict that Sonoco Products will post 5.09 earnings per share for the current year.

Sonoco Products Announces Dividend

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

Sonoco Products 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.