Blue Trust Inc. Has $538,000 Holdings in Sonoco Products (NYSE:SON)

Blue Trust Inc. cut its holdings in Sonoco Products (NYSE:SON) by 1.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 10,610 shares of the industrial products company’s stock after selling 207 shares during the quarter. Blue Trust Inc.’s holdings in Sonoco Products were worth $538,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. FinTrust Capital Advisors LLC lifted 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 buying an additional 216 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Sonoco Products during the first quarter worth approximately $50,000. Abich Financial Wealth Management LLC acquired a new position in shares of Sonoco Products during the second quarter worth approximately $50,000. Gradient Investments LLC acquired a new position in shares of Sonoco Products during the second quarter worth approximately $58,000. Finally, Norwood Financial Corp raised its position in shares of Sonoco Products by 31.5% during the first quarter. Norwood Financial Corp now owns 1,775 shares of the industrial products company’s stock worth $103,000 after purchasing an additional 425 shares during the period. 77.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SON shares. Raymond James started coverage on Sonoco Products in a research report on Friday, July 19th. They set an “outperform” rating and a $62.00 target price on the stock. Wells Fargo & Company lowered Sonoco Products from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $54.00 to $52.00 in a research report on Wednesday, August 21st. Citigroup upped their target price on Sonoco Products from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Finally, StockNews.com lowered Sonoco Products from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.00.

Sonoco Products Trading Up 0.3 %

NYSE SON opened at $52.51 on Wednesday. The firm has a market capitalization of $5.16 billion, a P/E ratio of 13.26, a PEG ratio of 2.06 and a beta of 0.68. The business has a fifty day simple moving average of $53.77 and a 200 day simple moving average of $54.83. Sonoco Products has a 12 month low of $48.22 and a 12 month high of $61.73. The company has a current ratio of 1.30, a quick ratio of 0.85 and a debt-to-equity ratio of 1.04.

Sonoco Products (NYSE:SON) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.02. The business had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.69 billion. Sonoco Products had a return on equity of 20.10% and a net margin of 5.57%. Sonoco Products’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.38 EPS. On average, analysts predict that Sonoco Products will post 5.08 EPS for the current fiscal year.

Sonoco Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be paid a $0.52 dividend. The ex-dividend date is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 3.96%. Sonoco Products’s dividend payout ratio (DPR) is presently 52.53%.

Sonoco Products Company 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.