Deutsche Bank AG Acquires 86,513 Shares of Sonoco Products (NYSE:SON)

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

A number of other institutional investors have also added to or reduced their stakes in SON. Deprince Race & Zollo Inc. grew its position in shares of Sonoco Products by 53.4% during 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 acquiring an additional 442,892 shares during the period. Colonial Trust Co SC raised 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 valued at $47,000 after buying an additional 453 shares in the last quarter. CoreCap Advisors LLC raised its position in shares of Sonoco Products by 30.3% during the 4th quarter. CoreCap Advisors LLC now owns 15,338 shares of the industrial products company's stock valued at $749,000 after buying an additional 3,566 shares in the last quarter. Crestline Management LP bought a new position in shares of Sonoco Products during the 4th quarter valued at $1,107,000. Finally, Brevan Howard Capital Management LP bought a new position in shares of Sonoco Products during the 4th quarter valued at $1,531,000. 77.69% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Sonoco Products Stock Up 1.3%

NYSE SON traded up $0.58 during trading hours on Friday, reaching $45.69. 705,140 shares of the company's stock traded hands, compared to its average volume of 780,448. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.79 and a quick ratio of 1.91. The firm has a market cap of $4.51 billion, a PE ratio of 27.69, a PEG ratio of 0.76 and a beta of 0.68. Sonoco Products has a 52-week low of $39.46 and a 52-week high of $61.73. The firm has a 50-day simple moving average of $45.05 and a 200 day simple moving average of $47.43.

Sonoco Products (NYSE:SON - Get Free Report) last issued its earnings results 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 firm had revenue of $1.71 billion during the quarter, compared to analysts' expectations of $2.02 billion. Sonoco Products had a return on equity of 20.81% and a net margin of 2.60%. The firm's quarterly revenue was up 30.6% on a year-over-year basis. During the same period last year, the firm posted $1.12 earnings per share. Sell-side analysts anticipate that Sonoco Products will post 6.1 EPS for the current fiscal year.

Sonoco Products Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SON shares. Raymond James cut their price target on shares of Sonoco Products from $54.00 to $50.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Wall Street Zen raised shares of Sonoco Products from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Jefferies Financial Group assumed coverage on shares of Sonoco Products in a research report on Tuesday, April 22nd. They issued a "buy" rating and a $62.00 target price for the company. Wells Fargo & Company raised shares of Sonoco Products from an "underweight" rating to an "overweight" rating and raised their target price for the stock from $45.00 to $55.00 in a research report on Friday. Finally, Truist Financial dropped their target price on shares of Sonoco Products from $60.00 to $54.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Two 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 an average rating of "Moderate Buy" and a consensus price target of $57.43.

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.