Janus Henderson Group PLC Trims Stake in Sonoco Products (NYSE:SON)

Janus Henderson Group PLC cut its stake in shares of Sonoco Products (NYSE:SON) by 14.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,887 shares of the industrial products company’s stock after selling 6,800 shares during the period. Janus Henderson Group PLC’s holdings in Sonoco Products were worth $2,233,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Holocene Advisors LP lifted its position in Sonoco Products by 163.5% during the third quarter. Holocene Advisors LP now owns 93,819 shares of the industrial products company’s stock valued at $5,125,000 after purchasing an additional 58,214 shares in the last quarter. Verition Fund Management LLC lifted its stake in shares of Sonoco Products by 1,736.5% during the 3rd quarter. Verition Fund Management LLC now owns 148,940 shares of the industrial products company’s stock valued at $8,137,000 after buying an additional 140,830 shares in the last quarter. Walleye Capital LLC lifted its stake in shares of Sonoco Products by 50.1% during the 3rd quarter. Walleye Capital LLC now owns 9,696 shares of the industrial products company’s stock valued at $530,000 after buying an additional 3,237 shares in the last quarter. Martingale Asset Management L P lifted its stake in shares of Sonoco Products by 129.1% during the 3rd quarter. Martingale Asset Management L P now owns 28,294 shares of the industrial products company’s stock valued at $1,546,000 after buying an additional 15,944 shares in the last quarter. Finally, Financial Counselors Inc. lifted its stake in shares of Sonoco Products by 1.0% during the 3rd quarter. Financial Counselors Inc. now owns 230,205 shares of the industrial products company’s stock valued at $12,576,000 after buying an additional 2,177 shares in the last quarter. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Sonoco Products Trading Up 0.2 %

Shares of SON stock opened at $52.14 on Friday. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.36 and a quick ratio of 1.91. Sonoco Products has a 1 year low of $48.22 and a 1 year high of $61.73. The company has a market cap of $5.12 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 2.11 and a beta of 0.67. The stock’s 50 day simple moving average is $51.96 and its two-hundred day simple moving average is $53.14.

Sonoco Products (NYSE:SON) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.72 billion. Sonoco Products had a net margin of 4.38% and a return on equity of 19.92%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.46 EPS. Research analysts predict that Sonoco Products will post 5.09 earnings per share for the current year.

Sonoco Products Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 8th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.99%. The ex-dividend date was Friday, November 8th. Sonoco Products’s dividend payout ratio is presently 71.48%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Citigroup boosted their target price on shares of Sonoco Products from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Wells Fargo & Company cut Sonoco Products from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $54.00 to $52.00 in a report on Wednesday, August 21st. Robert W. Baird decreased their price objective on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Finally, Truist Financial assumed coverage on Sonoco Products in a report on Tuesday, November 26th. They set a “buy” rating and a $63.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.00.

About Sonoco Products

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.