SG Americas Securities LLC Sells 2,368 Shares of Sonoco Products (NYSE:SON)

SG Americas Securities LLC decreased its position in Sonoco Products (NYSE:SON) by 14.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 13,990 shares of the industrial products company’s stock after selling 2,368 shares during the quarter. SG Americas Securities LLC’s holdings in Sonoco Products were worth $764,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Richardson Financial Services Inc. acquired a new stake in shares of Sonoco Products in the 4th quarter valued at approximately $177,000. SageView Advisory Group LLC lifted its holdings in shares of Sonoco Products by 17.8% during the fourth quarter. SageView Advisory Group LLC now owns 13,088 shares of the industrial products company’s stock worth $765,000 after buying an additional 1,977 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Sonoco Products during the fourth quarter worth $969,000. Kapitalo Investimentos Ltda lifted its position in Sonoco Products by 93.9% during the fourth quarter. Kapitalo Investimentos Ltda now owns 9,123 shares of the industrial products company’s stock worth $510,000 after purchasing an additional 4,417 shares during the period. Finally, M&R Capital Management Inc. lifted its position in Sonoco Products by 40.5% during the first quarter. M&R Capital Management Inc. now owns 1,298 shares of the industrial products company’s stock worth $75,000 after purchasing an additional 374 shares during the period. Institutional investors own 77.69% of the company’s stock.

Sonoco Products Price Performance

Shares of SON stock opened at $54.20 on Friday. The stock has a market cap of $5.33 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 2.08 and a beta of 0.68. The business’s fifty day moving average is $53.25 and its 200 day moving average is $55.01. Sonoco Products has a twelve month low of $48.22 and a twelve month high of $61.73. 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 (NYSE:SON) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.02. Sonoco Products had a return on equity of 20.10% and a net margin of 5.57%. The firm had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same period in the prior year, the company posted $1.38 earnings per share. The company’s quarterly revenue was down 4.8% on a year-over-year basis. Research analysts expect that Sonoco Products will post 5.09 EPS for the current fiscal year.

Sonoco Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date of this dividend was Friday, August 9th. Sonoco Products’s payout ratio is presently 55.91%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SON. Raymond James began coverage on Sonoco Products in a research note on Friday, July 19th. They issued an “outperform” rating and a $62.00 price objective for the company. Wells Fargo & Company cut 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. StockNews.com lowered Sonoco Products from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 3rd. Finally, Citigroup raised their target price on Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating and three have issued a buy rating to the company. Based on data from MarketBeat, Sonoco Products has an average rating of “Moderate Buy” and an average target price of $59.00.

About Sonoco Products

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.