Sonoco Products (NYSE:SON) Shares Acquired by Deutsche Bank AG

Deutsche Bank AG grew its position in Sonoco Products (NYSE:SON - Free Report) by 1,104.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,343 shares of the industrial products company's stock after buying an additional 86,513 shares during the quarter. Deutsche Bank AG owned 0.10% of Sonoco Products worth $4,609,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Quarry LP grew its stake in shares of 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 buying an additional 511 shares in the last quarter. Colonial Trust Co SC boosted its position in shares of Sonoco Products by 90.6% during the 4th quarter. Colonial Trust Co SC now owns 953 shares of the industrial products company's stock worth $47,000 after acquiring an additional 453 shares in the last quarter. Principal Securities Inc. boosted its position in shares of Sonoco Products by 35.0% during the 4th quarter. Principal Securities Inc. now owns 1,355 shares of the industrial products company's stock worth $66,000 after acquiring an additional 351 shares in the last quarter. Albion Financial Group UT purchased a new stake in shares of Sonoco Products in the 4th quarter valued at about $84,000. Finally, SRS Capital Advisors Inc. lifted its holdings in shares of Sonoco Products by 311.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,713 shares of the industrial products company's stock valued at $84,000 after purchasing an additional 1,297 shares during the last quarter. 77.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Sonoco Products news, Director Robert R. Hill, Jr. acquired 5,475 shares of Sonoco Products stock in a transaction dated Wednesday, April 30th. The stock was acquired at an average cost of $40.34 per share, for a total transaction of $220,861.50. Following the completion of the transaction, the director now owns 29,540 shares in the company, valued at approximately $1,191,643.60. This represents a 22.75% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John R. Haley acquired 3,000 shares of Sonoco Products stock in a transaction dated Thursday, February 27th. The shares were acquired at an average price of $46.76 per share, with a total value of $140,280.00. Following the completion of the transaction, the director now owns 18,558 shares of the company's stock, valued at approximately $867,772.08. This trade represents a 19.28% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 50,721 shares of company stock worth $2,206,646 over the last ninety days. Corporate insiders own 0.74% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. 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 research note on Tuesday, April 22nd. Raymond James cut their target price on Sonoco Products from $54.00 to $50.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company lowered their price target on Sonoco Products from $50.00 to $48.00 and set an "underweight" rating on the stock in a report on Monday, February 24th. Jefferies Financial Group initiated coverage on Sonoco Products in a report on Tuesday, April 22nd. They issued a "buy" rating and a $62.00 price target on the stock. Finally, StockNews.com upgraded Sonoco Products from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $56.43.

Sonoco Products Price Performance

SON stock opened at $46.27 on Tuesday. Sonoco Products has a 52-week low of $39.46 and a 52-week high of $61.73. The stock's fifty day simple moving average is $45.10 and its 200-day simple moving average is $47.57. The company has a quick ratio of 1.91, a current ratio of 0.79 and a debt-to-equity ratio of 2.18. The stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of 28.04, a price-to-earnings-growth ratio of 0.76 and a beta of 0.68.

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

Sonoco Products Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be given 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 yield of 4.58%. Sonoco Products's dividend payout ratio (DPR) is 137.66%.

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.

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