1 week Ago By Defense World Staff
JPMorgan Chase & Co. increased its holdings in Sonoco Products ( NYSE:SON – Free Report ) by 3.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC).
The firm owned 528,494 shares of the industrial products company’s stock after acquiring an additional 20,075 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.
54% of Sonoco Products worth $25,817,000 at the end of the most recent quarter. A number of other institutional investors have also modified their holdings of the business. Mitsubishi UFJ Trust & Banking Corp grew its position in Sonoco Products by 107.
3% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 5,559 shares of the industrial products company’s stock worth $272,000 after purchasing an additional 2,877 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd.
grew its holdings in shares of Sonoco Products by 3.5% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd.
now owns 125,972 shares of the industrial products company’s stock worth $6,154,000 after buying an additional 4,253 shares during the last quarter. Prudential Financial Inc. increased its position in Sonoco Products by 15.
3% in the 4th quarter. Prudential Financial Inc. now owns 147,436 shares of the industrial products company’s stock valued at $7,382,000 after acquiring an additional 19,590 shares during the period.
Vanguard Group Inc. raised its stake in Sonoco Products by 1.1% during the 4th quarter.
Vanguard Group Inc. now owns 11,128,725 shares of the industrial products company’s stock valued at $543,638,000 after acquiring an additional 120,843 shares during the last quarter. Finally, LPL Financial LLC raised its stake in Sonoco Products by 6.
3% during the 4th quarter. LPL Financial LLC now owns 57,798 shares of the industrial products company’s stock valued at $2,823,000 after acquiring an additional 3,400 shares during the last quarter. 77.
69% of the stock is owned by institutional investors and hedge funds. Analyst Ratings Changes A number of research firms have recently issued reports on SON. Citigroup dropped their target price on Sonoco Products from $59.
00 to $55.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.
com raised shares of Sonoco Products from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th. Truist Financial cut their price objective on shares of Sonoco Products from $68.00 to $60.
00 and set a “buy” rating for the company in a research report on Friday, February 21st. Bank of America lifted their target price on shares of Sonoco Products from $66.00 to $71.
00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Wells Fargo & Company cut their price target on shares of Sonoco Products from $50.00 to $48.
00 and set an “underweight” rating for the company in a report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.
com, the company currently has a consensus rating of “Hold” and a consensus target price of $58.50. Insider Activity In other Sonoco Products news, Director John R.
Haley acquired 3,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was acquired at an average cost of $46.76 per share, with a total value of $140,280.
00. Following the purchase, the director now directly owns 18,558 shares in the company, valued at approximately $867,772.08.
This trade represents a 19.28 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link .
Also, CEO R. Howard Coker bought 20,000 shares of Sonoco Products stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average cost of $46.
10 per share, for a total transaction of $922,000.00. Following the purchase, the chief executive officer now owns 482,365 shares in the company, valued at $22,237,026.
50. This represents a 4.33 % increase in their position.
The disclosure for this purchase can be found here . Company insiders own 0.74% of the company’s stock.
Sonoco Products Stock Performance Shares of SON opened at $40.57 on Wednesday. The company has a quick ratio of 1.
91, a current ratio of 0.79 and a debt-to-equity ratio of 2.18.
Sonoco Products has a 52-week low of $40.17 and a 52-week high of $61.73.
The company has a 50-day simple moving average of $46.67 and a 200-day simple moving average of $49.43.
The company has a market capitalization of $4.00 billion, a PE ratio of 24.59, a P/E/G ratio of 0.
76 and a beta of 0.64. Sonoco Products ( NYSE:SON – Get Free Report ) last issued its earnings results on Tuesday, February 18th.
The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.
01). The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.
67 billion. Sonoco Products had a net margin of 2.60% and a return on equity of 20.
81%. Equities research analysts predict that Sonoco Products will post 6.1 earnings per share for the current fiscal year.
Sonoco Products Announces Dividend The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 26th were issued a $0.52 dividend.
This represents a $2.08 annualized dividend and a yield of 5.13%.
The ex-dividend date of this dividend was Wednesday, February 26th. Sonoco Products’s dividend payout ratio (DPR) is 126.06%.
Sonoco Products Profile ( Free Report ) 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.
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