Stifel Financial Corp Sells 49,283 Shares of Sonoco Products (NYSE:SON)

Stifel Financial Corp reduced its stake in Sonoco Products (NYSE:SON - Free Report) by 25.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 144,926 shares of the industrial products company's stock after selling 49,283 shares during the quarter. Stifel Financial Corp owned 0.15% of Sonoco Products worth $7,080,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cooper Creek Partners Management LLC acquired a new stake in Sonoco Products in the 4th quarter valued at approximately $78,203,000. Norges Bank bought a new stake in shares of Sonoco Products in the fourth quarter worth $60,984,000. Nordea Investment Management AB boosted its holdings in Sonoco Products by 63.2% during the fourth quarter. Nordea Investment Management AB now owns 1,129,133 shares of the industrial products company's stock worth $55,181,000 after purchasing an additional 437,128 shares during the last quarter. Wellington Management Group LLP bought a new position in Sonoco Products in the fourth quarter valued at $15,533,000. Finally, Meadow Creek Wealth Advisors LLC acquired a new stake in Sonoco Products in the 4th quarter valued at $11,672,000. 77.69% of the stock is owned by institutional investors and hedge funds.

Sonoco Products Price Performance

Shares of SON opened at $46.48 on Tuesday. The firm has a market capitalization of $4.58 billion, a PE ratio of 28.17, a PEG ratio of 0.76 and a beta of 0.64. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.79 and a quick ratio of 1.91. The company's 50-day moving average is $45.66 and its 200-day moving average is $48.42. 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, February 18th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.01). Sonoco Products had a return on equity of 20.81% and a net margin of 2.60%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.67 billion. Equities analysts forecast that Sonoco Products will post 6.1 EPS for the current year.

Sonoco Products Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.56%. This is an increase from Sonoco Products's previous quarterly dividend of $0.52. Sonoco Products's dividend payout ratio (DPR) is currently 128.48%.

Insider Activity

In related news, CEO R. Howard Coker bought 20,000 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was purchased at an average cost of $46.10 per share, for a total transaction of $922,000.00. Following the transaction, the chief executive officer now owns 482,365 shares in the company, valued at $22,237,026.50. The trade was a 4.33 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John R. Haley purchased 3,000 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average price of $46.76 per share, for a total transaction of $140,280.00. Following the transaction, 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 position. The disclosure for this purchase can be found here. 0.74% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

SON has been the subject of several analyst reports. StockNews.com cut Sonoco Products from a "hold" rating to a "sell" rating in a report on Friday. Wells Fargo & Company decreased their price target on Sonoco Products from $50.00 to $48.00 and set an "underweight" rating for the company in a research note on Monday, February 24th. Citigroup dropped their price objective on Sonoco Products from $59.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Raymond James decreased 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 note on Tuesday, April 22nd. Finally, Jefferies Financial Group started coverage on shares of Sonoco Products in a research note on Tuesday, April 22nd. They issued a "buy" rating and a $62.00 price target for the company. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Sonoco Products has a consensus rating of "Hold" and a consensus target price 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.

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