OneDigital Investment Advisors LLC Invests $210,000 in Sonoco Products (NYSE:SON)

OneDigital Investment Advisors LLC purchased a new stake in shares of Sonoco Products (NYSE:SON) during the third quarter, Holdings Channel.com reports. The fund purchased 3,842 shares of the industrial products company’s stock, valued at approximately $210,000.

A number of other institutional investors have also added to or reduced their stakes in SON. Earnest Partners LLC increased its position in shares of Sonoco Products by 2.5% during the 2nd quarter. Earnest Partners LLC now owns 2,645,744 shares of the industrial products company’s stock valued at $134,192,000 after purchasing an additional 64,915 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Sonoco Products by 11.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,631,259 shares of the industrial products company’s stock worth $133,465,000 after buying an additional 261,062 shares during the last quarter. Victory Capital Management Inc. raised its position in Sonoco Products by 2.4% in the second quarter. Victory Capital Management Inc. now owns 2,195,155 shares of the industrial products company’s stock worth $111,338,000 after acquiring an additional 50,577 shares during the period. Pacer Advisors Inc. boosted its stake in Sonoco Products by 13,464.6% in the second quarter. Pacer Advisors Inc. now owns 1,980,297 shares of the industrial products company’s stock valued at $100,441,000 after acquiring an additional 1,965,698 shares during the last quarter. Finally, Sei Investments Co. grew its position in shares of Sonoco Products by 9.3% during the 2nd quarter. Sei Investments Co. now owns 1,490,580 shares of the industrial products company’s stock valued at $75,602,000 after acquiring an additional 126,643 shares during the period. 77.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Wells Fargo & Company cut shares of Sonoco Products from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $54.00 to $52.00 in a report on Wednesday, August 21st. Citigroup boosted their target price on Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Finally, Robert W. Baird cut their price target on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $58.00.

Sonoco Products Stock Up 1.5 %

Sonoco Products stock opened at $50.92 on Friday. The firm has a market capitalization of $5.00 billion, a price-to-earnings ratio of 17.50, a P/E/G ratio of 2.06 and a beta of 0.69. The firm has a 50 day simple moving average of $52.72 and a 200 day simple moving average of $53.92. Sonoco Products has a 1-year low of $48.22 and a 1-year high of $61.73. The company has a current ratio of 2.36, a quick ratio of 1.91 and a debt-to-equity ratio of 1.74.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.04. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.46 earnings per share. On average, analysts predict that Sonoco Products will post 5.1 earnings per share for the current year.

Sonoco Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date is Friday, November 8th. Sonoco Products’s payout ratio is 71.48%.

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.