Sonoco Products (NYSE:SON) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. grew its position in Sonoco Products (NYSE:SON) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,128,725 shares of the industrial products company’s stock after buying an additional 120,843 shares during the quarter. Vanguard Group Inc. owned 11.33% of Sonoco Products worth $543,638,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Principal Securities Inc. increased its position in Sonoco Products by 35.0% during the 4th quarter. Principal Securities Inc. now owns 1,355 shares of the industrial products company’s stock worth $66,000 after purchasing an additional 351 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Sonoco Products in the 3rd quarter worth about $71,000. Albion Financial Group UT acquired a new position in Sonoco Products during the fourth quarter valued at approximately $84,000. SRS Capital Advisors Inc. lifted its holdings in shares of Sonoco Products by 311.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,713 shares of the industrial products company’s stock valued at $84,000 after acquiring an additional 1,297 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Sonoco Products during the third quarter worth about $111,000. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Sonoco Products

In other Sonoco Products news, Director Robert R. Hill, Jr. sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $47.95, for a total value of $191,800.00. Following the transaction, the director now owns 16,065 shares in the company, valued at approximately $770,316.75. This represents a 19.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John R. Haley acquired 3,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average price of $46.76 per share, with a total value of $140,280.00. Following the completion of the acquisition, the director now owns 18,558 shares of the company’s stock, valued at $867,772.08. This represents a 19.28 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.74% of the company’s stock.

Sonoco Products Stock Up 1.3 %

Shares of SON stock opened at $47.29 on Tuesday. The business’s fifty day moving average is $47.31 and its 200-day moving average is $49.94. The stock has a market cap of $4.66 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 0.76 and a beta of 0.61. Sonoco Products has a 1 year low of $44.36 and a 1 year 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.

Sonoco Products (NYSE:SON) last posted its quarterly earnings results 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 business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.67 billion. Equities analysts expect that Sonoco Products will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 26th were issued a dividend of $0.52 per share. The ex-dividend date was Wednesday, February 26th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.40%. Sonoco Products’s dividend payout ratio is currently 126.06%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Bank of America boosted their target price on shares of Sonoco Products from $66.00 to $71.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. StockNews.com raised Sonoco Products from a “sell” rating to a “hold” rating in a report on Wednesday, March 5th. Citigroup decreased their price target on shares of Sonoco Products from $59.00 to $55.00 and set a “buy” rating for the company in a report on Monday, January 6th. Wells Fargo & Company lowered their price objective 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. Finally, Truist Financial decreased their target price on shares of Sonoco Products from $68.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $58.50.

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.