Sonoco Products (NYSE:SON) Shares Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets grew its position in Sonoco Products (NYSE:SON - Free Report) by 190.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,652 shares of the industrial products company's stock after acquiring an additional 24,022 shares during the quarter. BNP Paribas Financial Markets' holdings in Sonoco Products were worth $1,790,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Quarry LP lifted its holdings in Sonoco Products by 111.3% in the 4th quarter. Quarry LP now owns 970 shares of the industrial products company's stock valued at $47,000 after purchasing an additional 511 shares in the last quarter. Principal Securities Inc. raised its position in shares of Sonoco Products by 35.0% in the fourth 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 last quarter. SRS Capital Advisors Inc. boosted its position in Sonoco Products by 311.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,713 shares of the industrial products company's stock worth $84,000 after acquiring an additional 1,297 shares during the last quarter. Albion Financial Group UT acquired a new position in Sonoco Products during the fourth quarter worth about $84,000. Finally, Spire Wealth Management grew its stake in Sonoco Products by 11.5% during the 4th quarter. Spire Wealth Management now owns 3,599 shares of the industrial products company's stock valued at $176,000 after acquiring an additional 370 shares in the last quarter. 77.69% of the stock is owned by institutional investors and hedge funds.

Sonoco Products Trading Down 1.7%

Shares of Sonoco Products stock traded down $0.77 during trading hours on Wednesday, hitting $45.35. The company's stock had a trading volume of 537,935 shares, compared to its average volume of 777,952. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of 27.49, a P/E/G ratio of 0.76 and a beta of 0.68. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.91 and a current ratio of 0.79. Sonoco Products has a twelve month low of $39.46 and a twelve month high of $61.73. The firm has a fifty day moving average of $45.13 and a 200-day moving average of $47.56.

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 net margin of 2.60% and a return on equity of 20.81%. The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period in the previous year, the company earned $1.12 EPS. The company's quarterly revenue was up 30.6% compared to the same quarter last year. Research analysts forecast that Sonoco Products will post 6.1 EPS for the current year.

Sonoco Products Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 4.67%. The ex-dividend date is Friday, May 9th. This is an increase from Sonoco Products's previous quarterly dividend of $0.52. Sonoco Products's dividend payout ratio (DPR) is 137.66%.

Insider Buying and Selling at Sonoco Products

In other Sonoco Products news, CEO R. Howard Coker acquired 20,000 shares of the stock in a transaction dated Thursday, May 1st. The stock was acquired at an average price of $41.17 per share, with a total value of $823,400.00. Following the completion of the purchase, the chief executive officer now owns 502,365 shares in the company, valued at $20,682,367.05. This trade represents a 4.15% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John R. Haley bought 3,000 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average cost of $46.76 per share, for a total transaction of $140,280.00. Following the completion of the purchase, the director now owns 18,558 shares in the company, valued at $867,772.08. This trade represents a 19.28% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 50,721 shares of company stock valued at $2,206,646 over the last quarter. 0.74% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SON has been the topic of several recent research reports. Truist Financial lowered their target price on Sonoco Products from $60.00 to $54.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Jefferies Financial Group started coverage on Sonoco Products in a research note on Tuesday, April 22nd. They set a "buy" rating and a $62.00 price objective on the stock. StockNews.com raised Sonoco Products from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. Wells Fargo & Company lowered their price target on shares of Sonoco Products from $50.00 to $48.00 and set an "underweight" rating on the stock in a research report on Monday, February 24th. Finally, Raymond James dropped their price objective on shares of Sonoco Products from $54.00 to $50.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $56.43.

About Sonoco Products

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.