Wellington Management Group LLP Makes New $15.53 Million Investment in Sonoco Products (NYSE:SON)

Wellington Management Group LLP bought a new stake in Sonoco Products (NYSE:SON - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 317,967 shares of the industrial products company's stock, valued at approximately $15,533,000. Wellington Management Group LLP owned 0.32% of Sonoco Products as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Sonoco Products by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 11,128,725 shares of the industrial products company's stock valued at $543,638,000 after purchasing an additional 120,843 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Sonoco Products by 4.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,140,471 shares of the industrial products company's stock valued at $153,411,000 after purchasing an additional 136,965 shares during the last quarter. Earnest Partners LLC grew its holdings in Sonoco Products by 0.4% during the 4th quarter. Earnest Partners LLC now owns 2,594,601 shares of the industrial products company's stock worth $126,746,000 after acquiring an additional 10,661 shares during the last quarter. Cooper Creek Partners Management LLC bought a new stake in Sonoco Products during the 4th quarter worth approximately $78,203,000. Finally, Invesco Ltd. grew its holdings in Sonoco Products by 13.0% during the 4th quarter. Invesco Ltd. now owns 1,358,002 shares of the industrial products company's stock worth $66,338,000 after acquiring an additional 155,893 shares during the last quarter. 77.69% of the stock is owned by institutional investors.

Sonoco Products Price Performance

Shares of SON stock traded up $0.31 during trading hours on Thursday, reaching $45.07. The stock had a trading volume of 478,356 shares, compared to its average volume of 780,876. The stock's fifty day simple moving average is $44.75 and its 200 day simple moving average is $47.16. 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 $61.13. The firm has a market capitalization of $4.45 billion, a PE ratio of 27.32, a PEG ratio of 0.76 and a beta of 0.70.

Sonoco Products (NYSE:SON - Get Free Report) last released its quarterly earnings data 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 net margin of 2.60% and a return on equity of 20.81%. The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter last year, the business posted $1.12 earnings per share. Sonoco Products's revenue was up 30.6% compared to the same quarter last year. On average, equities research analysts predict that Sonoco Products will post 6.1 EPS for the current year.

Sonoco Products Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be issued a dividend of $0.53 per share. This is a positive change from Sonoco Products's previous quarterly dividend of $0.52. This represents a $2.12 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date of this dividend is Friday, May 9th. Sonoco Products's dividend payout ratio is currently 137.66%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company raised shares of Sonoco Products from an "underweight" rating to an "overweight" rating and boosted their target price for the stock from $45.00 to $55.00 in a report on Friday, May 23rd. Raymond James dropped their price target on shares of Sonoco Products from $54.00 to $50.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. UBS Group started coverage on shares of Sonoco Products in a research report on Wednesday. They issued a "neutral" rating and a $48.00 price target on the stock. Wall Street Zen upgraded shares of Sonoco Products from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Finally, Jefferies Financial Group started coverage on shares of Sonoco Products in a research report on Tuesday, April 22nd. They issued a "buy" rating and a $62.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $56.25.

Insider Activity at Sonoco Products

In other Sonoco Products news, CEO R. Howard Coker bought 20,000 shares of Sonoco Products stock in a transaction dated Thursday, March 13th. The shares were purchased at an average cost of $46.10 per share, with a total value of $922,000.00. Following the transaction, the chief executive officer now directly owns 482,365 shares of the company's stock, valued at $22,237,026.50. This represents a 4.33% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert R. Hill, Jr. acquired 5,475 shares of the business's stock in a transaction that occurred on Wednesday, April 30th. The shares were purchased at an average cost of $40.34 per share, for a total transaction of $220,861.50. Following the completion of the transaction, the director now directly owns 29,540 shares in the company, valued at $1,191,643.60. The trade was a 22.75% increase in their position. The disclosure for this purchase can be found here. Insiders bought 47,721 shares of company stock worth $2,066,366 in the last three months. 0.74% of the stock is owned by insiders.

Sonoco Products Company 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.