Baker Ellis Asset Management LLC Has $651,000 Stake in Sonoco Products (NYSE:SON)

Baker Ellis Asset Management LLC boosted its position in shares of Sonoco Products (NYSE:SONFree Report) by 20.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,656 shares of the industrial products company’s stock after buying an additional 1,940 shares during the period. Baker Ellis Asset Management LLC’s holdings in Sonoco Products were worth $651,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of Sonoco Products by 0.7% in the 1st quarter. BlackRock Inc. now owns 11,631,791 shares of the industrial products company’s stock valued at $709,539,000 after purchasing an additional 76,945 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Sonoco Products by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 10,969,740 shares of the industrial products company’s stock valued at $596,205,000 after purchasing an additional 64,047 shares in the last quarter. State Street Corp boosted its stake in shares of Sonoco Products by 13.4% in the 1st quarter. State Street Corp now owns 8,240,829 shares of the industrial products company’s stock valued at $515,546,000 after purchasing an additional 972,157 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Sonoco Products by 20.2% in the 3rd quarter. American Century Companies Inc. now owns 2,787,019 shares of the industrial products company’s stock valued at $151,474,000 after purchasing an additional 467,431 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of Sonoco Products by 1.3% in the 2nd quarter. Royal Bank of Canada now owns 2,566,627 shares of the industrial products company’s stock valued at $151,481,000 after purchasing an additional 32,230 shares in the last quarter. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of Sonoco Products from $58.00 to $56.00 and set an “equal weight” rating for the company in a report on Tuesday, February 20th. TheStreet lowered shares of Sonoco Products from a “b-” rating to a “c+” rating in a report on Wednesday, February 14th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Sonoco Products presently has an average rating of “Moderate Buy” and an average target price of $63.00.

Get Our Latest Analysis on Sonoco Products

Sonoco Products Stock Up 0.2 %

Shares of NYSE SON opened at $57.60 on Wednesday. The company has a 50 day simple moving average of $57.01 and a 200 day simple moving average of $55.60. The firm has a market cap of $5.65 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 2.19 and a beta of 0.68. Sonoco Products has a 1 year low of $49.98 and a 1 year high of $63.74. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.76 and a quick ratio of 1.10.

Sonoco Products (NYSE:SONGet Free Report) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.02). Sonoco Products had a return on equity of 22.42% and a net margin of 7.00%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the business posted $1.27 EPS. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, research analysts forecast that Sonoco Products will post 5.25 EPS for the current year.

Sonoco Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Wednesday, February 28th were issued a dividend of $0.51 per share. The ex-dividend date was Tuesday, February 27th. This represents a $2.04 annualized dividend and a yield of 3.54%. Sonoco Products’s payout ratio is 42.50%.

Insiders Place Their Bets

In other Sonoco Products news, VP Adam Wood sold 537 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $57.04, for a total transaction of $30,630.48. Following the completion of the transaction, the vice president now owns 28,273 shares in the company, valued at approximately $1,612,691.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, VP Adam Wood sold 537 shares of Sonoco Products stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $57.04, for a total value of $30,630.48. Following the completion of the sale, the vice president now owns 28,273 shares in the company, valued at approximately $1,612,691.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey S. Tomaszewski sold 10,500 shares of Sonoco Products stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $57.53, for a total transaction of $604,065.00. Following the completion of the sale, the insider now owns 13,456 shares of the company’s stock, valued at approximately $774,123.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,076 shares of company stock worth $749,002. 0.51% of the stock is currently owned by insiders.

Sonoco Products Company 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.

See Also

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Institutional Ownership by Quarter for Sonoco Products (NYSE:SON)

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