Sonoco Products (NYSE:SON) Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC grew its position in shares of Sonoco Products (NYSE:SON - Free Report) by 1.0% in the fourth quarter, according to its most recent filing with the SEC. The fund 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.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Sonoco Products by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 11,128,725 shares of the industrial products company's stock valued at $543,638,000 after acquiring an additional 120,843 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Sonoco Products by 4.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,140,471 shares of the industrial products company's stock worth $153,411,000 after acquiring an additional 136,965 shares during the last quarter. Earnest Partners LLC boosted its holdings in shares of Sonoco Products by 0.4% in the 4th quarter. Earnest Partners LLC now owns 2,594,601 shares of the industrial products company's stock valued at $126,746,000 after acquiring an additional 10,661 shares during the last quarter. Cooper Creek Partners Management LLC purchased a new position in shares of Sonoco Products during the 4th quarter valued at about $78,203,000. Finally, Invesco Ltd. lifted its holdings in Sonoco Products by 13.0% in the fourth quarter. Invesco Ltd. now owns 1,358,002 shares of the industrial products company's stock valued at $66,338,000 after acquiring an additional 155,893 shares during the period. 77.69% of the stock is owned by hedge funds and other institutional investors.

Sonoco Products Stock Down 0.2%

SON traded down $0.10 on Tuesday, reaching $46.13. The company's stock had a trading volume of 546,321 shares, compared to its average volume of 778,912. The stock has a 50 day moving average of $45.10 and a two-hundred day moving average of $47.57. The company has a quick ratio of 1.91, a current ratio of 0.79 and a debt-to-equity ratio of 2.18. The company has a market capitalization of $4.55 billion, a price-to-earnings ratio of 27.96, a P/E/G ratio of 0.76 and a beta of 0.68. Sonoco Products has a fifty-two week low of $39.46 and a fifty-two week high of $61.73.

Sonoco Products (NYSE:SON - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $1.71 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.12 EPS. As a group, analysts forecast that Sonoco Products will post 6.1 EPS for the current fiscal year.

Sonoco Products Increases Dividend

The company 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 dividend of $0.53 per share. The ex-dividend date is Friday, May 9th. This is a positive change from Sonoco Products's previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a yield of 4.60%. Sonoco Products's dividend payout ratio is currently 137.66%.

Insider Transactions at Sonoco Products

In other Sonoco Products news, Director John R. Haley acquired 3,000 shares of the company's stock in a transaction on Thursday, February 27th. The shares were bought at an average cost of $46.76 per share, for a total transaction of $140,280.00. Following the acquisition, the director now directly owns 18,558 shares of the company's stock, valued at $867,772.08. This trade represents a 19.28% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert R. Hill, Jr. acquired 5,475 shares of the company's stock in a transaction on Wednesday, April 30th. The shares were acquired 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 $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 bought a total of 50,721 shares of company stock worth $2,206,646 in the last three months. 0.74% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. StockNews.com raised shares of Sonoco Products from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. Raymond James cut their target price on Sonoco Products from $54.00 to $50.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company lowered their target price on Sonoco Products from $50.00 to $48.00 and set an "underweight" rating for the company in a report on Monday, February 24th. Truist Financial reduced their price target on Sonoco Products from $60.00 to $54.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Finally, Jefferies Financial Group began coverage on Sonoco Products in a research report on Tuesday, April 22nd. They set a "buy" rating and a $62.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $56.43.

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.