Curbstone Financial Management Corp Has $1.03 Million Stake in Sonoco Products Company $SON

by · The Cerbat Gem

Curbstone Financial Management Corp trimmed its position in shares of Sonoco Products Company (NYSE:SON – Free Report) by 9.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 23,610 shares of the industrial products company’s stock after selling 2,450 shares during the period. Curbstone Financial Management Corp’s holdings in Sonoco Products were worth $1,028,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Beverly Hills Private Wealth LLC lifted its holdings in shares of Sonoco Products by 4.1% during the 1st quarter. Beverly Hills Private Wealth LLC now owns 5,669 shares of the industrial products company’s stock valued at $268,000 after buying an additional 224 shares during the last quarter. CW Advisors LLC lifted its holdings in Sonoco Products by 1.5% in the 1st quarter. CW Advisors LLC now owns 14,791 shares of the industrial products company’s stock worth $699,000 after purchasing an additional 224 shares during the last quarter. Federated Hermes Inc. lifted its holdings in Sonoco Products by 2.5% in the 1st quarter. Federated Hermes Inc. now owns 9,304 shares of the industrial products company’s stock worth $440,000 after purchasing an additional 230 shares during the last quarter. Richardson Financial Services Inc. lifted its holdings in Sonoco Products by 13.2% in the 2nd quarter. Richardson Financial Services Inc. now owns 2,185 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 255 shares during the last quarter. Finally, State of Michigan Retirement System lifted its holdings in Sonoco Products by 1.3% in the 1st quarter. State of Michigan Retirement System now owns 23,551 shares of the industrial products company’s stock worth $1,113,000 after purchasing an additional 300 shares during the last quarter. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Sonoco Products Stock Performance

SON opened at $40.01 on Friday. The stock has a market cap of $3.95 billion, a PE ratio of 7.17, a P/E/G ratio of 0.66 and a beta of 0.68. The company has a current ratio of 1.25, a quick ratio of 0.72 and a debt-to-equity ratio of 1.53. Sonoco Products Company has a 1 year low of $39.13 and a 1 year high of $53.69. The stock’s 50 day simple moving average is $44.85 and its 200-day simple moving average is $45.02.

Sonoco Products (NYSE:SON – Get Free Report) last released its quarterly earnings data on Wednesday, June 22nd. The industrial products company reported $1.00 earnings per share (EPS) for the quarter. The business had revenue of $1.35 billion for the quarter. Sonoco Products had a return on equity of 20.46% and a net margin of 8.35%. Sonoco Products has set its Q2 2022 guidance at $1.60-$1.70 EPS. Sell-side analysts forecast that Sonoco Products Company will post 6.1 EPS for the current year.

Sonoco Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th will be given a dividend of $0.53 per share. The ex-dividend date is Monday, November 10th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.3%. Sonoco Products’s payout ratio is currently 37.99%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SON shares. Bank of America restated a “neutral” rating and issued a $56.00 target price on shares of Sonoco Products in a report on Thursday, October 9th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Sonoco Products in a research report on Wednesday, October 8th. Wells Fargo & Company dropped their price target on Sonoco Products from $55.00 to $50.00 and set an “overweight” rating on the stock in a research report on Wednesday. Raymond James Financial reaffirmed a “market perform” rating on shares of Sonoco Products in a research report on Friday. Finally, Citigroup dropped their price target on Sonoco Products from $56.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, September 29th. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $54.50.

Read Our Latest Report on SON

About Sonoco Products

(Free Report)

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.

Further Reading

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