Wealth Enhancement Advisory Services LLC Raises Holdings in Sonoco Products (NYSE:SON)

Wealth Enhancement Advisory Services LLC boosted its stake in Sonoco Products (NYSE:SON - Free Report) by 15.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 64,380 shares of the industrial products company's stock after acquiring an additional 8,432 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.07% of Sonoco Products worth $3,145,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SON. Public Employees Retirement System of Ohio raised its stake in shares of Sonoco Products by 5.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 37,602 shares of the industrial products company's stock valued at $1,837,000 after buying an additional 2,037 shares during the period. PharVision Advisers LLC purchased a new stake in Sonoco Products in the 4th quarter worth about $201,000. Voloridge Investment Management LLC raised its stake in Sonoco Products by 106.5% in the 4th quarter. Voloridge Investment Management LLC now owns 186,510 shares of the industrial products company's stock valued at $9,111,000 after acquiring an additional 96,190 shares during the period. Vident Advisory LLC raised its stake in Sonoco Products by 88.0% in the 4th quarter. Vident Advisory LLC now owns 7,270 shares of the industrial products company's stock valued at $355,000 after acquiring an additional 3,402 shares during the period. Finally, Tidal Investments LLC lifted its holdings in Sonoco Products by 35.8% during the fourth quarter. Tidal Investments LLC now owns 35,228 shares of the industrial products company's stock valued at $1,721,000 after purchasing an additional 9,287 shares during the last quarter. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SON has been the subject of several recent research reports. UBS Group started coverage on shares of Sonoco Products in a research note on Wednesday. They issued a "neutral" rating and a $48.00 target price for the company. Raymond James cut their price objective 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 initiated coverage on shares of Sonoco Products in a report on Tuesday, April 22nd. They set a "buy" rating and a $62.00 target price on the stock. Wall Street Zen raised Sonoco Products from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, Wells Fargo & Company upgraded Sonoco Products from an "underweight" rating to an "overweight" rating and lifted their price target for the company from $45.00 to $55.00 in a research report on Friday, May 23rd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $56.25.

Sonoco Products Price Performance

Shares of SON traded up $0.06 during mid-day trading on Friday, reaching $45.13. 570,911 shares of the stock traded hands, compared to its average volume of 782,582. The company has a market cap of $4.45 billion, a price-to-earnings ratio of 27.35, a price-to-earnings-growth ratio of 0.76 and a beta of 0.70. Sonoco Products has a 1 year low of $39.46 and a 1 year high of $59.62. The firm has a fifty day moving average price of $44.69 and a 200 day moving average price of $47.09. The company has a current ratio of 0.79, a quick ratio of 1.91 and a debt-to-equity ratio of 2.18.

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 the consensus estimate of $2.02 billion. Sonoco Products had a net margin of 2.60% and a return on equity of 20.81%. Sonoco Products's quarterly revenue was up 30.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.12 EPS. As a group, equities research analysts predict that Sonoco Products will post 6.1 earnings per share for the current year.

Sonoco Products Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date is Friday, May 9th. This is a boost from Sonoco Products's previous quarterly dividend of $0.52. Sonoco Products's payout ratio is currently 137.66%.

Insider Transactions at Sonoco Products

In other news, CEO R. Howard Coker bought 20,000 shares of Sonoco Products stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $46.10 per share, with a total value of $922,000.00. Following the completion of the purchase, the chief executive officer now directly 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 purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robert R. Hill, Jr. purchased 5,475 shares of the company's stock in a transaction on Wednesday, April 30th. The shares were purchased at an average cost of $40.34 per share, with a total value of $220,861.50. Following the purchase, the director now owns 29,540 shares of the company's stock, valued at approximately $1,191,643.60. The trade was a 22.75% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 47,721 shares of company stock valued at $2,066,366 in the last quarter. Insiders own 0.74% of the company's stock.

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.