Axa increased its stake in Sonoco Products Co (NYSE:SON) by 149.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,900 shares of the industrial products company’s stock after purchasing an additional 17,300 shares during the period. Axa’s holdings in Sonoco Products were worth $1,536,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Personal Financial Services boosted its stake in shares of Sonoco Products by 235.7% during the 4th quarter. First Personal Financial Services now owns 2,182 shares of the industrial products company’s stock worth $116,000 after buying an additional 1,532 shares during the last quarter. Ffcm LLC acquired a new position in shares of Sonoco Products during the 3rd quarter worth about $113,000. Financial Gravity Companies Inc. acquired a new position in shares of Sonoco Products during the 4th quarter worth about $176,000. Howland Capital Management LLC acquired a new position in shares of Sonoco Products during the 4th quarter worth about $201,000. Finally, Dividend Assets Capital LLC acquired a new position in shares of Sonoco Products during the 4th quarter worth about $203,000. 70.68% of the stock is owned by hedge funds and other institutional investors.
Shares of SON stock opened at $47.67 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.56 and a debt-to-equity ratio of 0.74. The stock has a market cap of $4,791.31, a PE ratio of 27.40, a PEG ratio of 3.22 and a beta of 1.19. Sonoco Products Co has a fifty-two week low of $47.00 and a fifty-two week high of $55.77.
Sonoco Products (NYSE:SON) last issued its earnings results on Thursday, February 15th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.01). The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.27 billion. Sonoco Products had a net margin of 3.48% and a return on equity of 16.63%. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.62 earnings per share. analysts predict that Sonoco Products Co will post 3.2 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Wednesday, February 28th were issued a $0.39 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.27%. Sonoco Products’s payout ratio is 89.66%.
A number of equities analysts have recently commented on the stock. TheStreet downgraded shares of Sonoco Products from a “b” rating to a “c+” rating in a research note on Friday, February 16th. Zacks Investment Research downgraded shares of Sonoco Products from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Barclays upgraded shares of Sonoco Products from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $49.00 to $55.00 in a research note on Friday, December 15th. Finally, KeyCorp restated a “hold” rating on shares of Sonoco Products in a research note on Sunday, December 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. Sonoco Products presently has a consensus rating of “Hold” and an average target price of $53.29.
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Sonoco Products Company Profile
Sonoco Products Company is engaged in manufacturing of industrial and consumer packaging products, and providing 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.
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