Sonoco Products Company (SON) Holdings Cut by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky cut its position in Sonoco Products Company (NYSE:SON) by 7.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,950 shares of the industrial products company’s stock after selling 1,600 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Sonoco Products were worth $1,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. National Planning Corp lifted its stake in Sonoco Products by 0.3% in the 2nd quarter. National Planning Corp now owns 12,647 shares of the industrial products company’s stock worth $652,000 after purchasing an additional 42 shares in the last quarter. Global X Management Co. LLC lifted its stake in Sonoco Products by 1.0% in the 1st quarter. Global X Management Co. LLC now owns 4,954 shares of the industrial products company’s stock worth $262,000 after purchasing an additional 50 shares in the last quarter. World Asset Management Inc lifted its stake in Sonoco Products by 0.8% in the 2nd quarter. World Asset Management Inc now owns 6,896 shares of the industrial products company’s stock worth $355,000 after purchasing an additional 57 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in Sonoco Products by 1.0% in the 2nd quarter. Teacher Retirement System of Texas now owns 7,952 shares of the industrial products company’s stock worth $409,000 after purchasing an additional 76 shares in the last quarter. Finally, Bank of Montreal Can lifted its stake in Sonoco Products by 0.7% in the 2nd quarter. Bank of Montreal Can now owns 12,995 shares of the industrial products company’s stock worth $669,000 after purchasing an additional 88 shares in the last quarter. Institutional investors and hedge funds own 72.46% of the company’s stock.

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Sonoco Products Company (SON) opened at 51.21 on Tuesday. The company has a market cap of $5.09 billion, a price-to-earnings ratio of 19.44 and a beta of 1.13. The stock has a 50 day moving average of $49.00 and a 200-day moving average of $50.54. Sonoco Products Company has a one year low of $47.10 and a one year high of $55.58.

Sonoco Products (NYSE:SON) last released its earnings results on Thursday, July 20th. The industrial products company reported $0.71 EPS for the quarter, hitting the consensus estimate of $0.71. Sonoco Products had a net margin of 5.61% and a return on equity of 16.64%. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the firm earned $0.73 earnings per share. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities analysts predict that Sonoco Products Company will post $2.75 EPS for the current fiscal year.

In other news, VP Marcy J. Thompson sold 565 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $51.00, for a total value of $28,815.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.90% of the stock is currently owned by insiders.

Several analysts have issued reports on SON shares. BidaskClub upgraded shares of Sonoco Products from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Jefferies Group LLC reiterated a “neutral” rating on shares of Sonoco Products in a research note on Wednesday, June 28th. Robert W. Baird upgraded shares of Sonoco Products from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $55.00 to $60.00 in a research note on Wednesday, July 19th. Vertical Research cut shares of Sonoco Products from a “hold” rating to a “sell” rating in a research note on Friday, July 21st. Finally, Bank of America Corporation increased their price target on shares of Sonoco Products from $55.00 to $56.00 and gave the stock an “underperform” rating in a report on Friday, July 21st. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $51.83.

Sonoco Products Profile

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

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