Sonoco Products (NYSE:SON) Insider Ernest Haynes III Sells 1,581 Shares

Sonoco Products Company (NYSE:SON) insider Ernest Haynes III sold 1,581 shares of the business’s 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 sale, the insider owned 9,377 shares of the company’s stock, valued at $528,769.03. This trade represents a 14.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

Sonoco Products Stock Up 1.1%

Shares of NYSE SON opened at $56.48 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.05 and a quick ratio of 0.60. The company has a 50-day moving average price of $49.21 and a 200-day moving average price of $45.20. The stock has a market capitalization of $5.57 billion, a P/E ratio of 5.61, a P/E/G ratio of 1.12 and a beta of 0.54. Sonoco Products Company has a 1 year low of $38.65 and a 1 year high of $58.44.

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

Sonoco Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Wednesday, February 25th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $2.12 annualized dividend and a dividend yield of 3.8%. Sonoco Products’s payout ratio is presently 21.05%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SON. Powell Investment Advisors LLC raised its holdings in shares of Sonoco Products by 1.0% in the 4th quarter. Powell Investment Advisors LLC now owns 20,718 shares of the industrial products company’s stock worth $904,000 after purchasing an additional 203 shares during the period. IFP Advisors Inc grew its holdings in Sonoco Products by 8.6% during the fourth quarter. IFP Advisors Inc now owns 2,996 shares of the industrial products company’s stock valued at $131,000 after purchasing an additional 237 shares during the period. SBI Securities Co. Ltd. increased its position in Sonoco Products by 77.7% in the fourth quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company’s stock worth $26,000 after buying an additional 258 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Sonoco Products by 5.3% in the third quarter. CIBC Private Wealth Group LLC now owns 6,006 shares of the industrial products company’s stock valued at $259,000 after buying an additional 304 shares during the period. Finally, Linden Thomas Advisory Services LLC lifted its position in shares of Sonoco Products by 2.8% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 12,742 shares of the industrial products company’s stock valued at $549,000 after buying an additional 345 shares during the last quarter. 77.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

SON has been the subject of a number of analyst reports. Citigroup increased their price target on Sonoco Products from $52.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Sonoco Products in a research note on Wednesday, January 21st. UBS Group boosted their price target 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. Wall Street Zen raised shares of Sonoco Products from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Finally, Raymond James Financial set a $60.00 target price on shares of Sonoco Products in a research report on Monday, January 5th. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $62.63.

About Sonoco Products

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.