Natixis Advisors LLC Acquires 28,619 Shares of Sonoco Products Company (NYSE:SON)

Key Points

• Natixis Advisors LLC increased its position in Sonoco Products Company by 16.8% in Q1, owning a total of 198,984 shares valued at approximately $9.4 million.
• Sonoco Products recently announced a quarterly dividend of $0.53, which translates to an annual yield of 4.7% based on its payout ratio of 37.99%.
• Wall Street analysts have shown a mixed outlook, with upgrades from several financial institutions, leading to an average price target of $57.63 and an overall rating of "Moderate Buy."

Natixis Advisors LLC grew its stake in shares of Sonoco Products Company (NYSE:SON - Free Report) by 16.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 198,984 shares of the industrial products company's stock after buying an additional 28,619 shares during the quarter. Natixis Advisors LLC owned about 0.20% of Sonoco Products worth $9,400,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Federated Hermes Inc. boosted its stake in Sonoco Products by 2.5% during the 1st quarter. Federated Hermes Inc. now owns 9,304 shares of the industrial products company's stock valued at $440,000 after purchasing an additional 230 shares in the last quarter. Picton Mahoney Asset Management lifted its holdings in shares of Sonoco Products by 38,195.2% in the first quarter. Picton Mahoney Asset Management now owns 8,042 shares of the industrial products company's stock valued at $380,000 after buying an additional 8,021 shares during the period. LPL Financial LLC boosted its stake in Sonoco Products by 16.1% during the first quarter. LPL Financial LLC now owns 67,101 shares of the industrial products company's stock valued at $3,170,000 after buying an additional 9,303 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Sonoco Products by 21.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,382 shares of the industrial products company's stock worth $1,105,000 after acquiring an additional 4,064 shares in the last quarter. Finally, Valley Wealth Managers Inc. raised its position in Sonoco Products by 699.3% in the first quarter. Valley Wealth Managers Inc. now owns 497,814 shares of the industrial products company's stock worth $23,517,000 after acquiring an additional 435,529 shares in the last quarter. 77.69% of the stock is owned by institutional investors and hedge funds.

Sonoco Products Stock Up 1.1%

NYSE:SON traded up $0.51 on Thursday, hitting $45.89. 826,093 shares of the company's stock traded hands, compared to its average volume of 866,443. The company has a market cap of $4.53 billion, a PE ratio of 8.22, a price-to-earnings-growth ratio of 0.60 and a beta of 0.69. Sonoco Products Company has a 1 year low of $39.46 and a 1 year high of $56.77. The company has a current ratio of 1.25, a quick ratio of 0.72 and a debt-to-equity ratio of 1.53. The firm has a 50-day moving average price of $45.53 and a 200-day moving average price of $45.90.

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

Sonoco Products Dividend Announcement

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

Wall Street Analyst Weigh In

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

Sonoco Products 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.