Two Sigma Investments LP Sells 108,356 Shares of Sonoco Products (NYSE:SON)

Two Sigma Investments LP trimmed its stake in Sonoco Products (NYSE:SON - Free Report) by 74.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,062 shares of the industrial products company's stock after selling 108,356 shares during the period. Two Sigma Investments LP's holdings in Sonoco Products were worth $1,810,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of SON. Arizona State Retirement System lifted its position in shares of Sonoco Products by 0.8% in the 4th quarter. Arizona State Retirement System now owns 28,516 shares of the industrial products company's stock worth $1,393,000 after purchasing an additional 224 shares during the period. IFP Advisors Inc raised its stake in Sonoco Products by 3.6% during the fourth quarter. IFP Advisors Inc now owns 7,073 shares of the industrial products company's stock worth $346,000 after buying an additional 243 shares during the last quarter. Treasurer of the State of North Carolina raised its stake in Sonoco Products by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 43,056 shares of the industrial products company's stock worth $2,103,000 after buying an additional 270 shares during the last quarter. Principal Securities Inc. lifted its holdings in Sonoco Products by 35.0% in the fourth quarter. Principal Securities Inc. now owns 1,355 shares of the industrial products company's stock valued at $66,000 after buying an additional 351 shares during the period. Finally, Mercer Global Advisors Inc. ADV boosted its position in Sonoco Products by 4.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 9,419 shares of the industrial products company's stock valued at $460,000 after acquiring an additional 368 shares during the last quarter. 77.69% of the stock is owned by institutional investors.

Insider Transactions at Sonoco Products

In related news, CEO R. Howard Coker purchased 20,000 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average price of $46.10 per share, for a total transaction of $922,000.00. Following the completion of the acquisition, the chief executive officer now owns 482,365 shares of the company's stock, valued at $22,237,026.50. This represents a 4.33% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert R. Hill, Jr. purchased 5,475 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was bought at an average cost of $40.34 per share, with a total value of $220,861.50. Following the completion of the transaction, the director now directly owns 29,540 shares in the company, valued at $1,191,643.60. The trade was a 22.75% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 47,721 shares of company stock valued at $2,066,366 over the last three months. Corporate insiders own 0.74% of the company's stock.

Sonoco Products Stock Up 0.1%

NYSE:SON traded up $0.06 on Friday, hitting $45.13. The stock had a trading volume of 570,911 shares, compared to its average volume of 781,163. The company has a quick ratio of 1.91, a current ratio of 0.79 and a debt-to-equity ratio of 2.18. Sonoco Products has a 52 week low of $39.46 and a 52 week high of $60.33. The business's fifty day moving average is $44.69 and its 200 day moving average is $47.13. The company has a market cap of $4.45 billion, a PE ratio of 27.35, a P/E/G ratio of 0.76 and a beta of 0.70.

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 for the quarter, missing analysts' consensus estimates of $1.41 by ($0.03). Sonoco Products had a return on equity of 20.81% and a net margin of 2.60%. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same period in the previous year, the company earned $1.12 earnings per share. Sonoco Products's revenue for the quarter was up 30.6% compared to the same quarter last year. On average, equities research analysts expect that Sonoco Products will post 6.1 EPS for the current fiscal year.

Sonoco Products Increases Dividend

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

Wall Street Analyst Weigh In

SON has been the subject of several research analyst reports. UBS Group began coverage on Sonoco Products in a research report on Wednesday. They issued a "neutral" rating and a $48.00 price objective for the company. Wall Street Zen raised Sonoco Products from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. Truist Financial lowered their target price on Sonoco Products from $60.00 to $54.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Jefferies Financial Group assumed coverage on Sonoco Products in a report on Tuesday, April 22nd. They set a "buy" rating and a $62.00 price target on the stock. Finally, Raymond James reduced their price objective on shares of Sonoco Products from $54.00 to $50.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Sonoco Products currently has an average rating of "Moderate Buy" and an average price target of $56.25.

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.