Cetera Investment Advisers Sells 41,446 Shares of Sonoco Products Company (NYSE:SON)

Cetera Investment Advisers decreased its stake in Sonoco Products Company (NYSE:SON - Free Report) by 34.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 77,601 shares of the industrial products company's stock after selling 41,446 shares during the quarter. Cetera Investment Advisers owned about 0.08% of Sonoco Products worth $3,666,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of SON. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Sonoco Products by 508.1% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 900 shares of the industrial products company's stock worth $43,000 after buying an additional 752 shares during the period. UMB Bank n.a. raised its stake in Sonoco Products by 152.7% during the first quarter. UMB Bank n.a. now owns 950 shares of the industrial products company's stock worth $45,000 after purchasing an additional 574 shares during the period. Quarry LP raised its position in Sonoco Products by 111.3% in the fourth quarter. Quarry LP now owns 970 shares of the industrial products company's stock valued at $47,000 after purchasing an additional 511 shares during the period. Colonial Trust Co SC boosted its stake in Sonoco Products by 90.6% during the fourth quarter. Colonial Trust Co SC now owns 953 shares of the industrial products company's stock worth $47,000 after buying an additional 453 shares during the period. Finally, Allworth Financial LP boosted its holdings in Sonoco Products by 152.0% during the 1st quarter. Allworth Financial LP now owns 1,071 shares of the industrial products company's stock valued at $50,000 after acquiring an additional 646 shares during the period. Institutional investors own 77.69% of the company's stock.

Sonoco Products Stock Up 1.1%

NYSE SON traded up $0.51 on Thursday, reaching $45.89. The company had a trading volume of 826,092 shares, compared to its average volume of 866,443. Sonoco Products Company has a 1-year low of $39.46 and a 1-year high of $56.77. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.72 and a current ratio of 1.25. The company's fifty day moving average is $45.53 and its 200-day moving average is $45.90. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of 8.22, a price-to-earnings-growth ratio of 0.60 and a beta of 0.69.

Sonoco Products (NYSE:SON - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $1.37 EPS for the quarter, missing analysts' consensus estimates of $1.44 by ($0.07). The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.92 billion. Sonoco Products had a net margin of 8.35% and a return on equity of 20.46%. The business's quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.28 earnings per share. On average, research analysts forecast that Sonoco Products Company will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 8th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $2.12 annualized dividend and a dividend yield of 4.6%. Sonoco Products's payout ratio is currently 37.99%.

Wall Street Analyst Weigh In

SON has been the topic of several research analyst reports. UBS Group raised their target price on Sonoco Products from $48.00 to $50.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Jefferies Financial Group started coverage on Sonoco Products in a report on Tuesday, April 22nd. They issued a "buy" rating and a $62.00 target price on the stock. Wall Street Zen raised Sonoco Products from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Wells Fargo & Company upgraded Sonoco Products from an "underweight" rating to an "overweight" rating and upped their price target for the stock from $45.00 to $55.00 in a report on Friday, May 23rd. Finally, Raymond James Financial upped their target price on Sonoco Products from $50.00 to $55.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $57.63.

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.