Deprince Race & Zollo Inc. boosted its position in Sonoco Products (NYSE:SON - Free Report) by 53.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,272,121 shares of the industrial products company's stock after purchasing an additional 442,892 shares during the quarter. Sonoco Products comprises 1.2% of Deprince Race & Zollo Inc.'s holdings, making the stock its 10th biggest position. Deprince Race & Zollo Inc. owned approximately 1.29% of Sonoco Products worth $62,143,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Arizona State Retirement System boosted its position in shares of Sonoco Products by 0.8% during the 4th quarter. Arizona State Retirement System now owns 28,516 shares of the industrial products company's stock valued at $1,393,000 after acquiring an additional 224 shares in the last quarter. IFP Advisors Inc grew its holdings 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 purchasing an additional 243 shares during the period. Wedmont Private Capital grew its holdings in Sonoco Products by 3.9% in the 4th quarter. Wedmont Private Capital now owns 6,652 shares of the industrial products company's stock valued at $306,000 after buying an additional 247 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in shares of Sonoco Products by 0.6% in 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 acquiring an additional 270 shares during the last quarter. Finally, Pallas Capital Advisors LLC increased its position in Sonoco Products by 6.4% during the 4th quarter. Pallas Capital Advisors LLC now owns 4,701 shares of the industrial products company's stock valued at $230,000 after purchasing an additional 284 shares during the period. Institutional investors own 77.69% of the company's stock.
Sonoco Products Trading Down 1.1%
Shares of Sonoco Products stock traded down $0.50 during trading hours on Tuesday, hitting $45.39. The company's stock had a trading volume of 499,360 shares, compared to its average volume of 775,565. Sonoco Products has a twelve month low of $39.46 and a twelve month high of $61.73. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.91 and a current ratio of 0.79. The firm has a fifty day moving average of $45.20 and a 200-day moving average of $47.80. The stock has a market cap of $4.48 billion, a price-to-earnings ratio of 27.51, a P/E/G ratio of 0.76 and a beta of 0.68.
Sonoco Products (NYSE:SON - Get Free Report) last announced 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 analyst estimates of $2.02 billion. Sonoco Products had a net margin of 2.60% and a return on equity of 20.81%. Sonoco Products's revenue for the quarter was up 30.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.12 earnings per share. Research analysts forecast that Sonoco Products will post 6.1 EPS for the current year.
Sonoco Products Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Friday, May 9th. 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 4.67%. Sonoco Products's dividend payout ratio is 137.66%.
Insider Buying and Selling
In other Sonoco Products news, CEO R. Howard Coker bought 20,000 shares of the business's stock in a transaction on Thursday, March 13th. The shares were purchased at an average price of $46.10 per share, with a total value of $922,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 482,365 shares of the company's stock, valued at approximately $22,237,026.50. The trade was a 4.33% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John R. Haley bought 3,000 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was purchased at an average price of $46.76 per share, with a total value of $140,280.00. Following the transaction, the director now owns 18,558 shares in the company, valued at $867,772.08. The trade was a 19.28% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 50,721 shares of company stock valued at $2,206,646. 0.74% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on SON shares. Jefferies Financial Group initiated coverage on Sonoco Products in a research report on Tuesday, April 22nd. They set a "buy" rating and a $62.00 target price on the stock. StockNews.com upgraded Sonoco Products from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. 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 note on Tuesday, April 22nd. Raymond James cut their target price 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. Finally, Wells Fargo & Company lowered their target price on shares of Sonoco Products from $50.00 to $48.00 and set an "underweight" rating on the stock in a research note on Monday, February 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $56.43.
Check Out Our Latest Analysis on SON
About Sonoco Products
(
Free Report)
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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