World Investment Advisors Takes $1.35 Million Position in Sonoco Products Company (NYSE:SON)

World Investment Advisors acquired a new position in Sonoco Products Company (NYSE:SON - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 28,521 shares of the industrial products company's stock, valued at approximately $1,347,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. UMB Bank n.a. lifted its holdings in Sonoco Products by 152.7% in the 1st quarter. UMB Bank n.a. now owns 950 shares of the industrial products company's stock valued at $45,000 after acquiring an additional 574 shares during the last quarter. Quarry LP lifted its stake in Sonoco Products by 111.3% during 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 lifted its stake in Sonoco Products by 90.6% during the fourth 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. True Wealth Design LLC lifted its stake in Sonoco Products by 650.7% during the fourth quarter. True Wealth Design LLC now owns 1,096 shares of the industrial products company's stock valued at $54,000 after buying an additional 950 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in Sonoco Products by 474.8% during the first quarter. Versant Capital Management Inc now owns 2,299 shares of the industrial products company's stock valued at $109,000 after buying an additional 1,899 shares in the last quarter. 77.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director John R. Haley acquired 2,246 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were purchased at an average price of $44.57 per share, for a total transaction of $100,104.22. Following the completion of the acquisition, the director owned 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 document filed with the SEC, which can be accessed through this hyperlink. Also, CEO R. Howard Coker purchased 20,000 shares of the stock in a transaction on Thursday, May 1st. The shares were bought at an average price of $41.17 per share, for a total transaction of $823,400.00. Following the acquisition, the chief executive officer owned 502,365 shares of the company's stock, valued at approximately $20,682,367.05. The trade was a 4.15% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 27,721 shares of company stock worth $1,144,366. Insiders own 0.74% of the company's stock.

Sonoco Products Stock Down 1.6%

Shares of SON traded down $0.76 during trading hours on Friday, reaching $46.25. The company's stock had a trading volume of 799,009 shares, compared to its average volume of 764,995. The firm has a market cap of $4.56 billion, a price-to-earnings ratio of 30.03, a P/E/G ratio of 0.61 and a beta of 0.68. Sonoco Products Company has a 1-year low of $39.46 and a 1-year high of $56.77. The company has a quick ratio of 0.51, a current ratio of 0.80 and a debt-to-equity ratio of 2.02. The company has a 50 day moving average of $45.22 and a two-hundred day moving average of $46.09.

Sonoco Products (NYSE:SON - Get Free Report) last released 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 firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the prior year, the company posted $1.12 EPS. The company's quarterly revenue was up 30.6% on a year-over-year basis. As a group, research analysts predict that Sonoco Products Company will post 6.1 EPS for the current fiscal year.

Sonoco Products Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were issued a $0.53 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.12 dividend on an annualized basis and a yield of 4.58%. This is an increase from Sonoco Products's previous quarterly dividend of $0.52. Sonoco Products's dividend payout ratio is currently 137.66%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wells Fargo & Company raised shares of Sonoco Products from an "underweight" rating to an "overweight" rating and upped their price objective for the company from $45.00 to $55.00 in a research note on Friday, May 23rd. Wall Street Zen raised shares of Sonoco Products from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. UBS Group assumed coverage on shares of Sonoco Products in a research note on Wednesday, June 4th. They set a "neutral" rating and a $48.00 price objective for the company. Raymond James Financial 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 note on Tuesday, April 22nd. Finally, Jefferies Financial Group assumed coverage on shares of Sonoco Products in a research note on Tuesday, April 22nd. They set a "buy" rating and a $62.00 price objective for the company. 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, Sonoco Products presently has a consensus rating of "Moderate Buy" and a consensus target price of $56.13.

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.