SG Americas Securities LLC Grows Stock Holdings in Sonoco Products Company $SON

SG Americas Securities LLC boosted its stake in Sonoco Products Company (NYSE:SON) by 10,238.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 728,138 shares of the industrial products company’s stock after purchasing an additional 721,095 shares during the period. SG Americas Securities LLC’s holdings in Sonoco Products were worth $31,776,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Cornerstone Planning Group LLC acquired a new stake in Sonoco Products during the 3rd quarter worth approximately $29,000. TD Waterhouse Canada Inc. purchased a new position in shares of Sonoco Products in the 2nd quarter valued at approximately $30,000. True Wealth Design LLC increased its holdings in shares of Sonoco Products by 172.5% in the third quarter. True Wealth Design LLC now owns 744 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 471 shares during the period. Ameriflex Group Inc. raised its stake in shares of Sonoco Products by 1,263.6% during the third quarter. Ameriflex Group Inc. now owns 900 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 834 shares during the last quarter. Finally, Larson Financial Group LLC raised its stake in shares of Sonoco Products by 1,826.9% during the third quarter. Larson Financial Group LLC now owns 1,002 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 950 shares during the last quarter. 77.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Ernest D. Haynes III sold 1,581 shares of the stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $56.39, for a total value of $89,152.59. Following the completion of the transaction, the insider owned 9,377 shares in the company, valued at $528,769.03. This trade represents a 14.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.98% of the stock is owned by corporate insiders.

Sonoco Products Stock Up 1.8%

SON opened at $53.46 on Thursday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.05 and a quick ratio of 0.60. Sonoco Products Company has a 12 month low of $38.65 and a 12 month high of $58.44. The stock has a market capitalization of $5.29 billion, a P/E ratio of 5.31, a P/E/G ratio of 1.06 and a beta of 0.51. The business has a 50 day simple moving average of $52.16 and a 200-day simple moving average of $46.06.

Sonoco Products (NYSE:SON) last announced its quarterly earnings data 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 firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.76 billion. Sonoco Products had a return on equity of 18.52% and a net margin of 13.34%.Sonoco Products’s quarterly revenue was up 29.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.17 earnings per share. On average, equities analysts anticipate that Sonoco Products Company will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 25th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Wednesday, February 25th. Sonoco Products’s dividend payout ratio (DPR) is currently 21.05%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SON shares. Raymond James Financial reiterated a “market perform” rating on shares of Sonoco Products in a research report on Friday, March 6th. Zacks Research upgraded shares of Sonoco Products from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Citigroup raised their target price on shares of Sonoco Products from $52.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. Wall Street Zen raised shares of Sonoco Products from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Finally, Bank of America upgraded shares of Sonoco Products from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $56.00 to $60.00 in a research note on Monday, January 5th. Four research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $62.13.

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.