Sonoco Products (NYSE:SON) Shares Acquired by Venturi Wealth Management LLC

Venturi Wealth Management LLC lifted its stake in Sonoco Products (NYSE:SON) by 110.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,378 shares of the industrial products company’s stock after buying an additional 3,866 shares during the quarter. Venturi Wealth Management LLC’s holdings in Sonoco Products were worth $360,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SON. Kennebec Savings Bank acquired a new stake in shares of Sonoco Products during the 3rd quarter worth approximately $27,000. Capital Performance Advisors LLP purchased a new stake in Sonoco Products during the third quarter worth $33,000. Principal Securities Inc. grew its position in Sonoco Products by 35.0% during the fourth quarter. Principal Securities Inc. now owns 1,355 shares of the industrial products company’s stock valued at $66,000 after buying an additional 351 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Sonoco Products in the third quarter valued at $71,000. Finally, Albion Financial Group UT purchased a new position in Sonoco Products in the fourth quarter valued at $84,000. 77.69% of the stock is owned by institutional investors and hedge funds.

Sonoco Products Stock Performance

NYSE SON opened at $46.18 on Friday. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.36 and a quick ratio of 1.91. The stock’s 50 day simple moving average is $48.22 and its 200-day simple moving average is $51.04. The company has a market cap of $4.54 billion, a PE ratio of 27.99, a price-to-earnings-growth ratio of 0.77 and a beta of 0.67. Sonoco Products has a 1-year low of $44.35 and a 1-year high of $61.73.

Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.01). Sonoco Products had a net margin of 2.60% and a return on equity of 20.46%. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.67 billion. As a group, equities research analysts anticipate that Sonoco Products will post 6.25 EPS for the current fiscal year.

Sonoco Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 26th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $2.08 dividend on an annualized basis and a yield of 4.50%. Sonoco Products’s payout ratio is 126.06%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Citigroup dropped their target price on Sonoco Products from $59.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Bank of America raised their price objective on Sonoco Products from $66.00 to $71.00 and gave the company a “buy” rating in a report on Monday, January 6th. Robert W. Baird reduced their target price on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. StockNews.com cut shares of Sonoco Products from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Wells Fargo & Company cut their price target on shares of Sonoco Products from $52.00 to $50.00 and set an “underweight” rating for the company in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Sonoco Products currently has a consensus rating of “Hold” and an average target price of $60.17.

Insider Buying and Selling at Sonoco Products

In other news, Director Robert R. Hill, Jr. sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $47.95, for a total value of $191,800.00. Following the completion of the sale, the director now directly owns 16,065 shares in the company, valued at $770,316.75. This represents a 19.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.51% of the stock is owned by insiders.

Sonoco Products 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.