LSV Asset Management Acquires 61,756 Shares of Sonoco Products Company (NYSE:SON)

LSV Asset Management increased its holdings in shares of Sonoco Products Company (NYSE:SON - Free Report) by 14.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 500,118 shares of the industrial products company's stock after purchasing an additional 61,756 shares during the quarter. LSV Asset Management owned 0.51% of Sonoco Products worth $23,626,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of SON. Cooper Creek Partners Management LLC acquired a new stake in shares of Sonoco Products in the 4th quarter valued at approximately $78,203,000. Invenomic Capital Management LP boosted its holdings in shares of Sonoco Products by 368.6% in the 4th quarter. Invenomic Capital Management LP now owns 666,430 shares of the industrial products company's stock valued at $32,555,000 after buying an additional 524,198 shares during the last quarter. Deprince Race & Zollo Inc. boosted its holdings in shares of Sonoco Products by 53.4% in the 4th quarter. Deprince Race & Zollo Inc. now owns 1,272,121 shares of the industrial products company's stock valued at $62,143,000 after buying an additional 442,892 shares during the last quarter. Valley Wealth Managers Inc. boosted its holdings in shares of Sonoco Products by 699.3% in the 1st quarter. Valley Wealth Managers Inc. now owns 497,814 shares of the industrial products company's stock valued at $23,517,000 after buying an additional 435,529 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new stake in shares of Sonoco Products in the 4th quarter valued at approximately $15,533,000. 77.69% of the stock is owned by institutional investors.

Sonoco Products Stock Down 1.8%

Shares of NYSE SON opened at $44.24 on Monday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.72 and a current ratio of 1.25. Sonoco Products Company has a 52 week low of $39.46 and a 52 week high of $56.77. The stock has a market capitalization of $4.36 billion, a P/E ratio of 7.93, a PEG ratio of 0.60 and a beta of 0.69. The stock's fifty day moving average is $45.59 and its 200 day moving average is $45.93.

Sonoco Products (NYSE:SON - Get Free Report) last issued its quarterly earnings results 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). Sonoco Products had a return on equity of 20.46% and a net margin of 8.35%. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the previous year, the business posted $1.28 EPS. The firm's revenue for the quarter was up 17.7% on a year-over-year basis. Sell-side analysts forecast that Sonoco Products Company will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Friday, August 8th. Sonoco Products's payout ratio is currently 37.99%.

Analysts Set New Price Targets

SON has been the subject of several research reports. Wells Fargo & Company raised Sonoco Products from an "underweight" rating to an "overweight" rating and raised their price target for the company from $45.00 to $55.00 in a report on Friday, May 23rd. Jefferies Financial Group initiated coverage on Sonoco Products in a report on Tuesday, April 22nd. They set a "buy" rating and a $62.00 price target for the company. Raymond James Financial raised their price target on Sonoco Products from $50.00 to $55.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. UBS Group increased their price objective on Sonoco Products from $48.00 to $50.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Finally, Truist Financial increased their price objective on Sonoco Products from $53.00 to $58.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.63.

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.

Want to see what other hedge funds are holding SON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sonoco Products Company (NYSE:SON - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.