Sonoco Products (NYSE:SON) CEO R. Howard Coker Purchases 20,000 Shares

Sonoco Products (NYSE:SON) CEO R. Howard Coker purchased 20,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were purchased at an average cost of $46.10 per share, with a total value of $922,000.00. Following the completion of the transaction, the chief executive officer now owns 482,365 shares of the company’s stock, valued at approximately $22,237,026.50. The trade was a 4.33 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Sonoco Products Stock Performance

SON opened at $47.17 on Tuesday. Sonoco Products has a 12-month low of $44.36 and a 12-month high of $61.73. The company has a current ratio of 0.79, a quick ratio of 1.91 and a debt-to-equity ratio of 2.18. The firm has a market capitalization of $4.64 billion, a PE ratio of 28.59, a P/E/G ratio of 0.76 and a beta of 0.61. The firm has a 50 day moving average of $47.31 and a two-hundred day moving average of $50.49.

Sonoco Products (NYSE:SON) last posted its quarterly 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). Sonoco Products had a return on equity of 20.81% and a net margin of 2.60%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.67 billion. On average, analysts anticipate that Sonoco Products will post 6.1 EPS for the current year.

Sonoco Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 26th were paid a dividend of $0.52 per share. The ex-dividend date was Wednesday, February 26th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.41%. Sonoco Products’s payout ratio is 126.06%.

Wall Street Analyst Weigh In

SON has been the subject of several research analyst reports. Citigroup decreased their price objective on shares of Sonoco Products from $59.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Wells Fargo & Company decreased their price objective on shares of Sonoco Products from $50.00 to $48.00 and set an “underweight” rating for the company in a research report on Monday, February 24th. StockNews.com raised shares of Sonoco Products from a “sell” rating to a “hold” rating in a research report on Wednesday, March 5th. Bank of America increased their price objective on shares of Sonoco Products from $66.00 to $71.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, Truist Financial decreased 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $58.50.

Institutional Investors Weigh In On Sonoco Products

Hedge funds and other institutional investors have recently made changes to their positions in the company. Colonial Trust Co SC grew its stake in shares of Sonoco Products by 90.6% during the 4th quarter. Colonial Trust Co SC now owns 953 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 453 shares during the period. Quarry LP grew its stake in shares of Sonoco Products by 111.3% during the 4th quarter. Quarry LP now owns 970 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 511 shares during the period. True Wealth Design LLC grew its stake in shares of Sonoco Products by 650.7% during the 4th quarter. True Wealth Design LLC now owns 1,096 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 950 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Sonoco Products during the 3rd quarter worth approximately $71,000. Finally, Principal Securities Inc. grew its stake in shares of Sonoco Products by 35.0% during the 4th quarter. Principal Securities Inc. now owns 1,355 shares of the industrial products company’s stock worth $66,000 after purchasing an additional 351 shares during the period. Institutional investors and hedge funds own 77.69% of the company’s stock.

About Sonoco Products

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.