Curbstone Financial Management Corp Sells 200 Shares of Sonoco Products (NYSE:SON)

Curbstone Financial Management Corp lowered its position in Sonoco Products (NYSE:SON) by 0.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 27,350 shares of the industrial products company’s stock after selling 200 shares during the quarter. Curbstone Financial Management Corp’s holdings in Sonoco Products were worth $1,494,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of SON. Wedmont Private Capital grew its stake in shares of Sonoco Products by 2.8% during the 1st quarter. Wedmont Private Capital now owns 6,541 shares of the industrial products company’s stock valued at $382,000 after purchasing an additional 178 shares during the period. Richardson Financial Services Inc. grew its position in Sonoco Products by 5.7% during the first quarter. Richardson Financial Services Inc. now owns 3,345 shares of the industrial products company’s stock valued at $193,000 after buying an additional 180 shares during the period. FinTrust Capital Advisors LLC increased its holdings in Sonoco Products by 78.8% during 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 last quarter. Mercer Global Advisors Inc. ADV raised its position in Sonoco Products by 2.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 8,862 shares of the industrial products company’s stock worth $445,000 after acquiring an additional 237 shares during the period. Finally, Sterling Investment Counsel LLC boosted its stake in shares of Sonoco Products by 5.2% during the 1st quarter. Sterling Investment Counsel LLC now owns 5,460 shares of the industrial products company’s stock worth $316,000 after acquiring an additional 270 shares during the last quarter. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Analyst Upgrades and Downgrades

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

Sonoco Products Stock Performance

NYSE SON opened at $53.32 on Friday. 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 twelve month low of $48.22 and a twelve month high of $61.73. The business has a 50-day moving average price of $53.11 and a 200-day moving average price of $55.17. The firm has a market cap of $5.24 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 2.10 and a beta of 0.68.

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

Sonoco Products Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 3.90%. Sonoco Products’s dividend payout ratio is currently 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.