ProShare Advisors LLC Purchases 5,995 Shares of Sonoco Products (NYSE:SON)

ProShare Advisors LLC increased its stake in shares of Sonoco Products (NYSE:SON - Free Report) by 1.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 632,479 shares of the industrial products company's stock after acquiring an additional 5,995 shares during the quarter. ProShare Advisors LLC owned about 0.64% of Sonoco Products worth $30,897,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Private Management Group Inc. grew its holdings in shares of Sonoco Products by 27.7% in the 4th quarter. Private Management Group Inc. now owns 584,390 shares of the industrial products company's stock worth $28,547,000 after purchasing an additional 126,867 shares during the last quarter. Quilter Plc grew its holdings in shares of Sonoco Products by 3.1% in the 4th quarter. Quilter Plc now owns 299,178 shares of the industrial products company's stock worth $14,615,000 after purchasing an additional 8,895 shares during the last quarter. Synergy Asset Management LLC grew its holdings in shares of Sonoco Products by 9.0% in the 4th quarter. Synergy Asset Management LLC now owns 66,754 shares of the industrial products company's stock worth $3,610,000 after purchasing an additional 5,505 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Sonoco Products by 24.0% in the 4th quarter. Northern Trust Corp now owns 859,810 shares of the industrial products company's stock worth $42,002,000 after purchasing an additional 166,552 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of Sonoco Products in the 4th quarter worth about $15,533,000. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Robert R. Hill, Jr. bought 5,475 shares of the firm's stock in a transaction that occurred 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 purchase, the director now owns 29,540 shares of the company's stock, valued at $1,191,643.60. This represents a 22.75% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John R. Haley bought 2,246 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The stock was purchased at an average cost of $44.57 per share, with a total value of $100,104.22. Following the completion of the purchase, the director now directly owns 20,804 shares of the company's stock, valued at $927,234.28. This represents a 12.10% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 50,721 shares of company stock valued at $2,206,646. 0.74% of the stock is owned by corporate insiders.

Sonoco Products Trading Down 0.2%

Shares of NYSE:SON traded down $0.07 during mid-day trading on Thursday, reaching $45.20. The stock had a trading volume of 111,355 shares, compared to its average volume of 775,424. The firm has a market cap of $4.46 billion, a PE ratio of 27.40, a price-to-earnings-growth ratio of 0.76 and a beta of 0.68. The firm has a 50 day simple moving average of $45.13 and a two-hundred day simple moving average of $47.55. 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 has a twelve month low of $39.46 and a twelve month high of $61.73.

Sonoco Products (NYSE:SON - Get Free Report) last announced its quarterly 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 net margin of 2.60% and a return on equity of 20.81%. 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 business earned $1.12 earnings per share. The business's revenue was up 30.6% on a year-over-year basis. On average, research analysts predict that Sonoco Products will post 6.1 EPS for the current fiscal year.

Sonoco Products Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 4.69%. This is a boost from Sonoco Products's previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Friday, May 9th. Sonoco Products's dividend payout ratio is presently 137.66%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SON. Jefferies Financial Group began coverage on shares of Sonoco Products in a report on Tuesday, April 22nd. They set a "buy" rating and a $62.00 price objective on the stock. Raymond James decreased their price objective 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. Truist Financial decreased their price objective on shares of Sonoco Products from $60.00 to $54.00 and set a "buy" 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 report on Wednesday, May 7th. Finally, Wells Fargo & Company decreased their price objective on shares of Sonoco Products from $50.00 to $48.00 and set an "underweight" rating on the stock in a report on Monday, February 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $56.43.

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.