Barclays PLC lowered its stake in shares of Sonoco Products Co (NYSE:SON) by 6.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,006 shares of the industrial products company’s stock after selling 3,762 shares during the period. Barclays PLC owned 0.05% of Sonoco Products worth $3,027,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Parametric Portfolio Associates LLC lifted its holdings in Sonoco Products by 0.8% during the third quarter. Parametric Portfolio Associates LLC now owns 297,020 shares of the industrial products company’s stock worth $17,290,000 after buying an additional 2,387 shares during the period. California State Teachers Retirement System lifted its holdings in Sonoco Products by 0.3% during the third quarter. California State Teachers Retirement System now owns 161,567 shares of the industrial products company’s stock worth $9,405,000 after buying an additional 410 shares during the period. Pictet Asset Management Ltd. lifted its holdings in Sonoco Products by 56.5% during the third quarter. Pictet Asset Management Ltd. now owns 136,967 shares of the industrial products company’s stock worth $7,973,000 after buying an additional 49,435 shares during the period. Stifel Financial Corp lifted its holdings in Sonoco Products by 3.5% during the third quarter. Stifel Financial Corp now owns 276,332 shares of the industrial products company’s stock worth $16,130,000 after buying an additional 9,330 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Sonoco Products during the third quarter worth $34,000. Institutional investors own 72.15% of the company’s stock.

Shares of SON opened at $60.17 on Tuesday. Sonoco Products Co has a 12 month low of $50.30 and a 12 month high of $66.57. The stock has a fifty day moving average price of $58.63 and a 200-day moving average price of $60.26. The company has a current ratio of 1.20, a quick ratio of 0.82 and a debt-to-equity ratio of 0.64. The firm has a market cap of $6.06 billion, a PE ratio of 17.85, a P/E/G ratio of 3.80 and a beta of 0.89.

Sonoco Products (NYSE:SON) last issued its quarterly earnings data on Thursday, October 17th. The industrial products company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.91 by $0.06. Sonoco Products had a return on equity of 20.08% and a net margin of 5.99%. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the prior year, the business posted $0.86 EPS. The business’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, research analysts forecast that Sonoco Products Co will post 3.54 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.72 annualized dividend and a dividend yield of 2.86%. Sonoco Products’s dividend payout ratio is presently 51.04%.

In other news, VP James A. Harrell III sold 825 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $60.00, for a total transaction of $49,500.00. Following the completion of the sale, the vice president now owns 16,413 shares in the company, valued at approximately $984,780. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.

SON has been the subject of a number of analyst reports. Robert W. Baird lowered their target price on Sonoco Products from $70.00 to $65.00 and set an “outperform” rating for the company in a report on Friday, October 18th. BMO Capital Markets upgraded Sonoco Products from an “underperform” rating to a “market perform” rating and set a $56.00 target price for the company in a report on Friday, October 18th. Vertical Research upgraded Sonoco Products from a “sell” rating to a “hold” rating in a report on Friday, October 18th. ValuEngine upgraded Sonoco Products from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, Vertical Group upgraded Sonoco Products from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. Sonoco Products presently has an average rating of “Hold” and a consensus price target of $60.33.

Sonoco Products Company 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.

Further Reading: Catch-Up Contributions

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

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