Sonoco Products Co (SON) Shares Bought by Northern Trust Corp

Northern Trust Corp increased its stake in shares of Sonoco Products Co (NYSE:SON) by 0.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 772,213 shares of the industrial products company’s stock after purchasing an additional 6,062 shares during the quarter. Northern Trust Corp owned about 0.78% of Sonoco Products worth $40,541,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SON. Millennium Management LLC grew its stake in shares of Sonoco Products by 5,649.3% during the first quarter. Millennium Management LLC now owns 756,841 shares of the industrial products company’s stock valued at $36,707,000 after purchasing an additional 743,677 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Sonoco Products by 163.3% during the second quarter. Victory Capital Management Inc. now owns 792,285 shares of the industrial products company’s stock valued at $41,595,000 after purchasing an additional 491,419 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Sonoco Products by 289.7% during the second quarter. Robeco Institutional Asset Management B.V. now owns 317,860 shares of the industrial products company’s stock valued at $16,690,000 after purchasing an additional 236,302 shares during the last quarter. BlackRock Inc. grew its stake in shares of Sonoco Products by 1.7% during the second quarter. BlackRock Inc. now owns 10,848,632 shares of the industrial products company’s stock valued at $569,553,000 after purchasing an additional 179,510 shares during the last quarter. Finally, WBI Investments Inc. bought a new stake in shares of Sonoco Products during the second quarter valued at approximately $9,344,000. 70.51% of the stock is currently owned by institutional investors and hedge funds.

In other Sonoco Products news, SVP Kevin P. Mahoney sold 1,138 shares of the firm’s stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $56.11, for a total value of $63,853.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Barry L. Saunders sold 6,580 shares of the firm’s stock in a transaction that occurred on Tuesday, July 24th. The shares were sold at an average price of $55.85, for a total transaction of $367,493.00. Following the completion of the transaction, the chief financial officer now directly owns 91,181 shares in the company, valued at $5,092,458.85. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,612 shares of company stock worth $1,047,835. Insiders own 1.70% of the company’s stock.

Several analysts have recently commented on SON shares. Zacks Investment Research cut shares of Sonoco Products from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. Barclays increased their price target on shares of Sonoco Products from $55.00 to $58.00 and gave the company a “$56.02” rating in a research note on Monday, July 23rd. Finally, DA Davidson increased their price target on shares of Sonoco Products to $57.00 and gave the company a “neutral” rating in a research note on Friday, July 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Sonoco Products has a consensus rating of “Hold” and an average target price of $59.00.

Shares of SON stock opened at $52.82 on Wednesday. Sonoco Products Co has a 52-week low of $46.55 and a 52-week high of $58.69. The company has a market capitalization of $5.53 billion, a price-to-earnings ratio of 18.51, a price-to-earnings-growth ratio of 3.56 and a beta of 1.07. The company has a current ratio of 1.53, a quick ratio of 1.07 and a debt-to-equity ratio of 0.71.

Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Thursday, July 19th. The industrial products company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.07. Sonoco Products had a net margin of 4.57% and a return on equity of 18.01%. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the firm earned $0.71 earnings per share. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, equities analysts anticipate that Sonoco Products Co will post 3.34 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 9th will be paid a $0.41 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.64 dividend on an annualized basis and a yield of 3.10%. Sonoco Products’s payout ratio is presently 58.78%.

Sonoco Products Profile

Sonoco Products Company manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through four segments: Consumer Packaging, Display and Packaging, Paper and Industrial Converted Products, and Protective Solutions. The Consumer Packaging segment offers composite and thermoformed plastic round and shaped rigid containers and trays; extruded and injection-molded plastic products; printed flexible packaging products; brand artwork management; and metal and peelable membrane ends and closures.

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

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