Axa S.A. Invests $10.11 Million in Sonoco Products (NYSE:SON)

AXA S.A. purchased a new stake in Sonoco Products (NYSE:SON - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 206,921 shares of the industrial products company's stock, valued at approximately $10,108,000. AXA S.A. owned 0.21% of Sonoco Products at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP grew its stake in Sonoco Products by 111.3% during the 4th quarter. Quarry LP now owns 970 shares of the industrial products company's stock worth $47,000 after buying an additional 511 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Sonoco Products in the 3rd quarter valued at about $71,000. Principal Securities Inc. lifted its holdings in shares of Sonoco Products by 35.0% in the 4th quarter. Principal Securities Inc. now owns 1,355 shares of the industrial products company's stock valued at $66,000 after buying an additional 351 shares during the period. SRS Capital Advisors Inc. raised its holdings in Sonoco Products by 311.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,713 shares of the industrial products company's stock worth $84,000 after purchasing an additional 1,297 shares during the period. Finally, Albion Financial Group UT acquired a new position in Sonoco Products in the 4th quarter worth about $84,000. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on SON. Wells Fargo & Company cut their price objective on Sonoco Products from $50.00 to $48.00 and set an "underweight" rating for the company in a research note on Monday, February 24th. Jefferies Financial Group began coverage on Sonoco Products in a research report on Tuesday, April 22nd. They issued a "buy" rating and a $62.00 price objective for the company. Truist Financial lowered their price objective on Sonoco Products from $60.00 to $54.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. StockNews.com upgraded Sonoco Products from a "sell" rating to a "hold" rating in a research note on Wednesday. Finally, Raymond James reduced their price objective on Sonoco Products from $54.00 to $50.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $56.43.

Sonoco Products Stock Down 1.5%

Sonoco Products stock traded down $0.67 during midday trading on Friday, reaching $44.38. The company's stock had a trading volume of 541,595 shares, compared to its average volume of 776,406. Sonoco Products has a fifty-two week low of $39.46 and a fifty-two week high of $61.73. The company has a quick ratio of 1.91, a current ratio of 0.79 and a debt-to-equity ratio of 2.18. The company has a market cap of $4.38 billion, a P/E ratio of 26.90, a P/E/G ratio of 0.76 and a beta of 0.68. The business has a 50-day simple moving average of $45.21 and a 200-day simple moving average of $47.85.

Sonoco Products (NYSE:SON - Get Free Report) last posted its earnings results on Tuesday, April 29th. The industrial products company reported $1.38 EPS for the quarter, missing analysts' consensus estimates of $1.41 by ($0.03). Sonoco Products had a return on equity of 20.81% and a net margin of 2.60%. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter last year, the firm posted $1.12 EPS. The firm's revenue for the quarter was up 30.6% on a year-over-year basis. On average, research analysts expect that Sonoco Products will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Friday, May 9th. This is an increase from Sonoco Products's previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a yield of 4.78%. Sonoco Products's dividend payout ratio is currently 137.66%.

Insider Buying and Selling at Sonoco Products

In other Sonoco Products news, CEO R. Howard Coker bought 20,000 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $46.10 per share, with a total value of $922,000.00. Following the purchase, the chief executive officer now owns 482,365 shares in the company, valued at approximately $22,237,026.50. This represents a 4.33% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert R. Hill, Jr. purchased 5,475 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was purchased at an average price of $40.34 per share, for a total transaction of $220,861.50. Following the acquisition, the director now owns 29,540 shares in the company, valued at approximately $1,191,643.60. This trade represents a 22.75% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 50,721 shares of company stock valued at $2,206,646 in the last ninety days. Insiders own 0.74% of the company's stock.

Sonoco Products Profile

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.