Biltmore Family Office LLC bought a new position in Sonoco Products Co (NYSE:SON) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,620 shares of the industrial products company’s stock, valued at approximately $246,000.
Other institutional investors also recently added to or reduced their stakes in the company. First Personal Financial Services boosted its holdings in Sonoco Products by 235.7% in the fourth quarter. First Personal Financial Services now owns 2,182 shares of the industrial products company’s stock worth $116,000 after acquiring an additional 1,532 shares in the last quarter. Ffcm LLC bought a new position in shares of Sonoco Products during the third quarter valued at $113,000. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Sonoco Products by 68.7% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,027 shares of the industrial products company’s stock valued at $161,000 after purchasing an additional 1,233 shares in the last quarter. Financial Gravity Companies Inc. bought a new position in shares of Sonoco Products during the fourth quarter valued at $176,000. Finally, Howland Capital Management LLC bought a new position in shares of Sonoco Products during the fourth quarter valued at $201,000. 70.72% of the stock is currently owned by institutional investors and hedge funds.
Sonoco Products Co (NYSE SON) opened at $48.16 on Friday. The stock has a market capitalization of $4,842.05, a price-to-earnings ratio of 27.67, a PEG ratio of 3.26 and a beta of 1.19. The company has a current ratio of 1.56, a quick ratio of 1.09 and a debt-to-equity ratio of 0.74. Sonoco Products Co has a 1-year low of $47.00 and a 1-year high of $55.77.
The company also recently announced a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Wednesday, February 28th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend was Tuesday, February 27th. Sonoco Products’s dividend payout ratio is 89.66%.
A number of research analysts have recently issued reports on the company. Zacks Investment Research raised Sonoco Products from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a report on Friday, January 12th. KeyCorp reaffirmed a “hold” rating on shares of Sonoco Products in a report on Sunday, December 3rd. Barclays raised Sonoco Products from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $49.00 to $55.00 in a report on Friday, December 15th. Finally, TheStreet downgraded Sonoco Products from a “b” rating to a “c+” rating in a report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $53.29.
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About Sonoco Products
Sonoco Products Company is engaged in manufacturing of industrial and consumer packaging products, and providing packaging services. The Company operates in four segments: Consumer Packaging, Paper and Industrial Converted Products, Display and Packaging, and Protective Solutions. Its Consumer Packaging segment’s products and services include round composite cans, aluminum, steel and peelable membrane easy-open closures for composite and metal cans; plastic bottles, cups and trays, and printed flexible packaging and global brand management.
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