Sonoco Products (NYSE:SON) Stock Holdings Increased by Quantinno Capital Management LP

Quantinno Capital Management LP grew its holdings in Sonoco Products (NYSE:SON - Free Report) by 312.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 89,495 shares of the industrial products company's stock after acquiring an additional 67,817 shares during the period. Quantinno Capital Management LP owned about 0.09% of Sonoco Products worth $4,372,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Private Management Group Inc. grew its holdings in Sonoco Products by 27.7% during the 4th quarter. Private Management Group Inc. now owns 584,390 shares of the industrial products company's stock valued at $28,547,000 after purchasing an additional 126,867 shares in the last quarter. Quilter Plc grew its holdings in Sonoco Products by 3.1% during the 4th quarter. Quilter Plc now owns 299,178 shares of the industrial products company's stock valued at $14,615,000 after purchasing an additional 8,895 shares in the last quarter. Synergy Asset Management LLC grew its holdings in Sonoco Products by 9.0% during the 4th quarter. Synergy Asset Management LLC now owns 66,754 shares of the industrial products company's stock valued at $3,610,000 after purchasing an additional 5,505 shares in the last quarter. Northern Trust Corp grew its holdings in Sonoco Products by 24.0% during the 4th quarter. Northern Trust Corp now owns 859,810 shares of the industrial products company's stock valued at $42,002,000 after purchasing an additional 166,552 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in Sonoco Products during the 4th quarter valued at $15,533,000. Hedge funds and other institutional investors own 77.69% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on SON. Raymond James lowered their price target 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. Jefferies Financial Group started coverage on shares of Sonoco Products in a report on Tuesday, April 22nd. They set a "buy" rating and a $62.00 price objective for the company. Wall Street Zen raised shares of Sonoco Products from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Truist Financial decreased their price objective on shares of Sonoco Products from $60.00 to $54.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company raised shares of Sonoco Products from an "underweight" rating to an "overweight" rating and raised their price objective for the stock from $45.00 to $55.00 in a report on Friday. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $57.43.

Insider Activity

In other news, Director John R. Haley acquired 2,246 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were purchased at an average cost of $44.57 per share, for a total transaction of $100,104.22. Following the transaction, the director now directly owns 20,804 shares in the company, valued at $927,234.28. This trade represents a 12.10% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO R. Howard Coker acquired 20,000 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average price of $46.10 per share, for a total transaction of $922,000.00. Following the completion of the transaction, the chief executive officer now owns 482,365 shares in the company, valued at $22,237,026.50. The trade was a 4.33% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 50,721 shares of company stock valued at $2,206,646. Company insiders own 0.74% of the company's stock.

Sonoco Products Stock Performance

Shares of NYSE SON traded up $0.58 during midday trading on Friday, hitting $45.69. The company's stock had a trading volume of 705,140 shares, compared to its average volume of 780,448. Sonoco Products has a 1-year low of $39.46 and a 1-year high of $61.73. The firm's fifty day moving average price is $45.05 and its 200-day moving average price is $47.45. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.91 and a current ratio of 0.79. The firm has a market cap of $4.51 billion, a P/E ratio of 27.69, a P/E/G ratio of 0.76 and a beta of 0.68.

Sonoco Products (NYSE:SON - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $1.38 EPS for the quarter, missing the consensus estimate of $1.41 by ($0.03). Sonoco Products had a net margin of 2.60% and a return on equity of 20.81%. The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period last year, the firm posted $1.12 earnings per share. The company's quarterly revenue was up 30.6% on a year-over-year basis. On average, sell-side analysts forecast that Sonoco Products will post 6.1 EPS for the current fiscal year.

Sonoco Products Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Friday, May 9th. This is a positive change from Sonoco Products's previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a dividend yield of 4.64%. Sonoco Products's payout ratio is 137.66%.

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.