Arbor Investment Advisors LLC bought a new position in shares of Sonoco Products Co (NYSE:SON) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 7,445 shares of the industrial products company’s stock, valued at approximately $458,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hirtle Callaghan & Co LLC acquired a new position in Sonoco Products during the 4th quarter worth approximately $35,000. Oregon Public Employees Retirement Fund increased its position in Sonoco Products by 5,213.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,066,704 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 2,027,805 shares during the period. Tributary Capital Management LLC acquired a new position in Sonoco Products during the 4th quarter worth approximately $46,000. Rehmann Capital Advisory Group increased its position in Sonoco Products by 40.5% during the 4th quarter. Rehmann Capital Advisory Group now owns 1,137 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 328 shares during the period. Finally, Meeder Asset Management Inc. increased its position in Sonoco Products by 67.5% during the 4th quarter. Meeder Asset Management Inc. now owns 1,330 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 536 shares during the period. Institutional investors own 74.49% of the company’s stock.
Several research firms have issued reports on SON. Wells Fargo & Co reiterated a “hold” rating on shares of Sonoco Products in a research report on Thursday, February 14th. KeyCorp reissued a “hold” rating on shares of Sonoco Products in a research note on Thursday, February 14th. Finally, Zacks Investment Research reissued a “hold” rating and set a $56.00 price target on shares of Sonoco Products in a research note on Monday, December 31st. Five equities research analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and an average target price of $56.50.
Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Thursday, February 14th. The industrial products company reported $0.84 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.03. Sonoco Products had a return on equity of 18.94% and a net margin of 5.82%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the previous year, the company earned $0.72 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. On average, equities analysts anticipate that Sonoco Products Co will post 3.51 earnings per share for the current year.
In other news, SVP Rodger D. Fuller sold 6,224 shares of Sonoco Products stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $59.90, for a total value of $372,817.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP R. Howard Coker sold 6,474 shares of Sonoco Products stock in a transaction on Friday, February 15th. The shares were sold at an average price of $59.78, for a total transaction of $387,015.72. Following the completion of the sale, the senior vice president now owns 212,341 shares of the company’s stock, valued at approximately $12,693,744.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,829 shares of company stock worth $1,245,466. 1.30% of the stock is currently owned by corporate insiders.
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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.
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