FTB Advisors Inc. decreased its stake in Sonoco Products Co. (NYSE:SON) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,446 shares of the company’s stock after selling 144 shares during the period. FTB Advisors Inc.’s holdings in Sonoco Products were worth $865,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the company. Eqis Capital Management Inc. acquired a new stake in Sonoco Products during the second quarter valued at $220,000. Boys Arnold & Co. Inc. increased its stake in Sonoco Products by 14.0% in the second quarter. Boys Arnold & Co. Inc. now owns 5,862 shares of the company’s stock valued at $291,000 after buying an additional 720 shares during the period. LS Investment Advisors LLC increased its stake in Sonoco Products by 72.8% in the second quarter. LS Investment Advisors LLC now owns 6,094 shares of the company’s stock valued at $303,000 after buying an additional 2,567 shares during the period. Prudential PLC acquired a new stake in Sonoco Products during the first quarter valued at $369,000. Finally, First Midwest Bank Trust Division acquired a new stake in Sonoco Products during the second quarter valued at $432,000. Institutional investors and hedge funds own 69.02% of the company’s stock.
Shares of Sonoco Products Co. (NYSE:SON) traded up 0.68% during trading on Friday, reaching $50.43. 312,109 shares of the company’s stock were exchanged. Sonoco Products Co. has a 12-month low of $36.56 and a 12-month high of $53.57. The stock has a 50-day moving average price of $51.77 and a 200 day moving average price of $49.57. The company has a market capitalization of $5.05 billion, a P/E ratio of 23.90 and a beta of 1.01.
Sonoco Products (NYSE:SON) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.05. The business earned $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Sonoco Products had a return on equity of 17.66% and a net margin of 4.37%. The company’s revenue was down 3.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.68 EPS. Equities analysts expect that Sonoco Products Co. will post $2.72 EPS for the current fiscal year.
Several analysts have recently weighed in on the company. Deutsche Bank AG set a $42.00 target price on Sonoco Products and gave the stock a “hold” rating in a research report on Sunday, July 24th. Barclays PLC lifted their target price on Sonoco Products from $40.00 to $44.00 and gave the stock an “underweight” rating in a research report on Monday, July 25th. BMO Capital Markets reiterated a “hold” rating and set a $46.00 target price on shares of Sonoco Products in a research report on Friday, July 22nd. Zacks Investment Research downgraded Sonoco Products from a “buy” rating to a “hold” rating in a report on Monday, June 27th. Finally, Jefferies Group restated a “neutral” rating on shares of Sonoco Products in a report on Friday, July 22nd. Six analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Sonoco Products has an average rating of “Hold” and an average price target of $46.25.
In related news, CEO Mancil J. Sanders sold 16,254 shares of the firm’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $52.00, for a total transaction of $845,208.00. Following the completion of the transaction, the chief executive officer now directly owns 187,296 shares in the company, valued at approximately $9,739,392. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Vicki B. Arthur sold 1,721 shares of the firm’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $51.00, for a total value of $87,771.00. Following the transaction, the vice president now owns 39,753 shares of the company’s stock, valued at $2,027,403. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.
Sonoco Products Company Profile
Sonoco Products Company (Sonoco) is a manufacturer of industrial and consumer packaging products and a provider of packaging services. The Company operates in four segments: Consumer Packaging, Paper and Industrial Converted Products, Display and Packaging, and Protective Solutions. Its Consumer Packaging segment’s products and services include round composite cans, aluminum, steel and peelable membrane easy-open closures for composite and metal cans; plastic bottles, cups and trays, and printed flexible packaging and global brand management.
Want to see what other hedge funds are holding SON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sonoco Products Co. (NYSE:SON).
Receive News & Ratings for Sonoco Products Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sonoco Products Co. and related companies with MarketBeat.com's FREE daily email newsletter.