Sonoco Products (NYSE:SON) Shares Sold by Evanson Asset Management LLC

Evanson Asset Management LLC cut its stake in shares of Sonoco Products (NYSE:SON) by 6.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,197 shares of the industrial products company’s stock after selling 231 shares during the period. Evanson Asset Management LLC’s holdings in Sonoco Products were worth $175,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Wedmont Private Capital boosted its holdings in Sonoco Products by 2.8% during the 1st quarter. Wedmont Private Capital now owns 6,541 shares of the industrial products company’s stock valued at $382,000 after acquiring an additional 178 shares during the period. Richardson Financial Services Inc. boosted its stake in shares of Sonoco Products by 5.7% in the first quarter. Richardson Financial Services Inc. now owns 3,345 shares of the industrial products company’s stock valued at $193,000 after purchasing an additional 180 shares during the period. Curbstone Financial Management Corp grew its holdings in shares of Sonoco Products by 0.7% in the first quarter. Curbstone Financial Management Corp now owns 27,750 shares of the industrial products company’s stock valued at $1,605,000 after purchasing an additional 200 shares in the last quarter. FinTrust Capital Advisors LLC increased its stake in Sonoco Products by 78.8% during the 1st quarter. FinTrust Capital Advisors LLC now owns 490 shares of the industrial products company’s stock worth $28,000 after buying an additional 216 shares during the period. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in Sonoco Products by 2.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 8,862 shares of the industrial products company’s stock worth $445,000 after buying an additional 237 shares in the last quarter. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SON has been the topic of a number of recent research reports. Wells Fargo & Company lowered Sonoco Products from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $54.00 to $52.00 in a research report on Wednesday, August 21st. Raymond James began coverage on Sonoco Products in a report on Friday, July 19th. They set an “outperform” rating and a $62.00 price target on the stock. Citigroup lifted their price objective on Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Finally, StockNews.com lowered shares of Sonoco Products from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. According to MarketBeat.com, Sonoco Products presently has an average rating of “Moderate Buy” and an average price target of $59.00.

Sonoco Products Stock Down 0.5 %

Sonoco Products stock opened at $52.98 on Wednesday. The stock has a market cap of $5.21 billion, a PE ratio of 13.38, a P/E/G ratio of 2.08 and a beta of 0.68. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.30 and a quick ratio of 0.85. The stock’s fifty day moving average is $53.18 and its two-hundred day moving average is $55.06. Sonoco Products has a 1-year low of $48.22 and a 1-year high of $61.73.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.26 by $0.02. The firm had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.69 billion. Sonoco Products had a net margin of 5.57% and a return on equity of 20.10%. Sonoco Products’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period last year, the business earned $1.38 EPS. On average, sell-side analysts expect that Sonoco Products will post 5.09 EPS for the current fiscal year.

Sonoco Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.93%. The ex-dividend date was Friday, August 9th. Sonoco Products’s payout ratio is currently 52.53%.

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.