Dimensional Fund Advisors LP lifted its stake in shares of Sonoco Products (NYSE:SON - Free Report) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,140,471 shares of the industrial products company's stock after purchasing an additional 136,965 shares during the period. Dimensional Fund Advisors LP owned 3.20% of Sonoco Products worth $153,411,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Barclays PLC grew its stake in shares of Sonoco Products by 29.8% during the 3rd quarter. Barclays PLC now owns 94,885 shares of the industrial products company's stock worth $5,184,000 after acquiring an additional 21,799 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Sonoco Products in the third quarter valued at approximately $71,000. Tidal Investments LLC lifted its stake in shares of Sonoco Products by 36.0% during the 3rd quarter. Tidal Investments LLC now owns 25,941 shares of the industrial products company's stock valued at $1,417,000 after buying an additional 6,869 shares in the last quarter. Franklin Resources Inc. raised its holdings in Sonoco Products by 110.4% during the 3rd quarter. Franklin Resources Inc. now owns 73,501 shares of the industrial products company's stock valued at $4,018,000 after acquiring an additional 38,564 shares during the period. Finally, Trust Co of the South grew its position in shares of Sonoco Products by 11.4% in the fourth quarter. Trust Co of the South now owns 16,248 shares of the industrial products company's stock valued at $794,000 after purchasing an additional 1,658 shares in the last quarter. Institutional investors own 77.69% of the company's stock.
Sonoco Products Price Performance
Shares of SON stock traded down $5.62 during trading hours on Wednesday, hitting $41.14. 3,355,494 shares of the company's stock were exchanged, compared to its average volume of 764,222. The company has a market capitalization of $4.06 billion, a PE ratio of 24.93, a PEG ratio of 0.76 and a beta of 0.64. The company has a current ratio of 0.79, a quick ratio of 1.91 and a debt-to-equity ratio of 2.18. Sonoco Products has a 12-month low of $39.46 and a 12-month high of $61.73. The business's 50 day simple moving average is $45.56 and its 200-day simple moving average is $48.36.
Sonoco Products (NYSE:SON - Get Free Report) last issued 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 business had revenue of $1.71 billion during the quarter, compared to analysts' expectations of $2.02 billion. During the same quarter in the previous year, the business earned $1.12 EPS. Sonoco Products's revenue for the quarter was up 30.6% compared to the same quarter last year. On average, equities research analysts anticipate that Sonoco Products will post 6.1 earnings per share for the current year.
Sonoco Products Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date is Friday, May 9th. This is a positive change from Sonoco Products's previous quarterly dividend of $0.52. Sonoco Products's payout ratio is 128.48%.
Wall Street Analysts Forecast Growth
SON has been the subject of a number of recent analyst reports. Jefferies Financial Group began coverage on Sonoco Products in a report on Tuesday, April 22nd. They set a "buy" rating and a $62.00 target price for the company. StockNews.com cut shares of Sonoco Products from a "hold" rating to a "sell" rating in a report on Friday, April 25th. Bank of America boosted their target price on Sonoco Products from $66.00 to $71.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Truist Financial lowered their price target on Sonoco Products from $60.00 to $54.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, 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 report on Monday, February 24th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Sonoco Products presently has a consensus rating of "Hold" and a consensus target price of $56.43.
Get Our Latest Report on Sonoco Products
Insider Buying and Selling
In other news, CEO R. Howard Coker bought 20,000 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was bought at an average cost of $46.10 per share, for a total transaction of $922,000.00. Following the completion of the acquisition, the chief executive officer now owns 482,365 shares in the company, valued at approximately $22,237,026.50. This trade represents a 4.33 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John R. Haley purchased 3,000 shares of the stock in a transaction on Thursday, February 27th. The shares were acquired at an average cost of $46.76 per share, with a total value of $140,280.00. Following the transaction, the director now directly owns 18,558 shares in the company, valued at $867,772.08. The trade was a 19.28 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.74% of the stock is owned by corporate insiders.
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.
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