Wealth Enhancement Advisory Services LLC Has $2.56 Million Position in Sonoco Products Company (NYSE:SON)

Wealth Enhancement Advisory Services LLC reduced its stake in shares of Sonoco Products Company (NYSE:SON - Free Report) by 15.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 54,178 shares of the industrial products company's stock after selling 10,202 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.05% of Sonoco Products worth $2,559,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. IFP Advisors Inc lifted its stake in Sonoco Products by 3.6% in the fourth quarter. IFP Advisors Inc now owns 7,073 shares of the industrial products company's stock valued at $346,000 after acquiring an additional 243 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Sonoco Products by 0.9% in the fourth quarter. Bank of New York Mellon Corp now owns 1,107,635 shares of the industrial products company's stock valued at $54,108,000 after acquiring an additional 9,899 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in Sonoco Products by 271.5% in the fourth quarter. Los Angeles Capital Management LLC now owns 14,655 shares of the industrial products company's stock valued at $716,000 after acquiring an additional 10,710 shares during the last quarter. Bailard Inc. acquired a new stake in Sonoco Products in the fourth quarter valued at approximately $467,000. Finally, SRS Capital Advisors Inc. lifted its stake in shares of Sonoco Products by 311.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,713 shares of the industrial products company's stock worth $84,000 after buying an additional 1,297 shares during the last quarter. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Sonoco Products Stock Down 0.2%

Shares of NYSE:SON opened at $43.82 on Friday. Sonoco Products Company has a 52 week low of $39.46 and a 52 week high of $56.77. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.51 and a current ratio of 0.80. The company's fifty day moving average is $44.96 and its 200-day moving average is $46.35. The company has a market capitalization of $4.32 billion, a PE ratio of 28.45, a P/E/G ratio of 0.55 and a beta of 0.70.

Sonoco Products (NYSE:SON - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $1.38 EPS for the quarter, missing analysts' consensus estimates of $1.41 by ($0.03). Sonoco Products had a return on equity of 21.78% and a net margin of 2.40%. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the prior year, the company earned $1.12 EPS. The firm's revenue was up 30.6% compared to the same quarter last year. Equities research analysts predict that Sonoco Products Company will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 4.84%. The ex-dividend date was Friday, May 9th. This is a positive change from Sonoco Products's previous quarterly dividend of $0.52. Sonoco Products's dividend payout ratio (DPR) is 137.66%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SON shares. UBS Group started coverage on shares of Sonoco Products in a research note on Wednesday, June 4th. They issued a "neutral" rating and a $48.00 price objective for the company. Jefferies Financial Group assumed coverage on shares of Sonoco Products in a research note on Tuesday, April 22nd. They issued a "buy" rating and a $62.00 price objective for the company. Truist Financial dropped their target price on shares of Sonoco Products from $60.00 to $54.00 and set a "buy" rating on the stock in a research 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. Finally, Raymond James Financial lowered 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. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $56.25.

Insider Activity

In related news, Director John R. Haley bought 2,246 shares of the company's stock in a transaction 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 acquisition, the director now owns 20,804 shares of the company's stock, valued at approximately $927,234.28. This represents a 12.10% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert R. Hill, Jr. bought 5,475 shares of the company's stock in a transaction on Wednesday, April 30th. The shares were bought at an average price of $40.34 per share, for a total transaction of $220,861.50. Following the completion of the acquisition, the director now directly owns 29,540 shares in the company, valued at approximately $1,191,643.60. This trade represents a 22.75% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 27,721 shares of company stock valued at $1,144,366. 0.74% of the stock is currently owned by insiders.

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.

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