Agate Pass Investment Management LLC Sells 355 Shares of Sonoco Products (NYSE:SON)

Agate Pass Investment Management LLC lowered its stake in shares of Sonoco Products (NYSE:SON) by 7.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,330 shares of the industrial products company’s stock after selling 355 shares during the quarter. Agate Pass Investment Management LLC’s holdings in Sonoco Products were worth $237,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Speece Thorson Capital Group Inc. increased its position in shares of Sonoco Products by 18.2% during the 4th quarter. Speece Thorson Capital Group Inc. now owns 266,036 shares of the industrial products company’s stock valued at $14,863,000 after purchasing an additional 41,006 shares during the last quarter. Richardson Financial Services Inc. bought a new stake in shares of Sonoco Products in the 4th quarter worth $177,000. SageView Advisory Group LLC grew its holdings in shares of Sonoco Products by 17.8% in the fourth quarter. SageView Advisory Group LLC now owns 13,088 shares of the industrial products company’s stock worth $765,000 after acquiring an additional 1,977 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Sonoco Products in the fourth quarter worth $969,000. Finally, Kapitalo Investimentos Ltda grew its holdings in shares of Sonoco Products by 93.9% in the fourth quarter. Kapitalo Investimentos Ltda now owns 9,123 shares of the industrial products company’s stock worth $510,000 after acquiring an additional 4,417 shares during the period. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SON shares. Wells Fargo & Company downgraded Sonoco Products from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $54.00 to $52.00 in a research report on Wednesday, August 21st. StockNews.com cut Sonoco Products from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 3rd. Citigroup upped their target price on Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Finally, Raymond James initiated coverage on Sonoco Products in a research note on Friday, July 19th. They issued an “outperform” rating and a $62.00 price objective on the stock. 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 company currently has an average rating of “Moderate Buy” and a consensus target price of $59.00.

Sonoco Products Trading Down 0.0 %

SON stock opened at $53.59 on Friday. The stock has a market cap of $5.27 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 2.08 and a beta of 0.68. The business’s 50-day moving average is $53.20 and its 200 day moving average is $55.04. 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 data 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. 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 analysts’ expectations of $1.69 billion. During the same period in the prior year, the firm posted $1.38 earnings per share. The firm’s quarterly revenue was down 4.8% on a year-over-year basis. On average, sell-side analysts anticipate that Sonoco Products will post 5.09 EPS for the current fiscal year.

Sonoco Products Dividend Announcement

The business also recently announced 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 3.88%. Sonoco Products’s dividend payout ratio (DPR) is presently 55.91%.

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.