52,886 Shares in Sonoco Products (NYSE:SON) Acquired by Arjuna Capital

Arjuna Capital purchased a new position in Sonoco Products (NYSE:SON) in the second quarter, Holdings Channel reports. The fund purchased 52,886 shares of the industrial products company’s stock, valued at approximately $2,682,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rise Advisors LLC purchased a new position in shares of Sonoco Products in the 1st quarter valued at about $26,000. FinTrust Capital Advisors LLC increased its stake in Sonoco Products by 78.8% in the first quarter. FinTrust Capital Advisors LLC now owns 490 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 216 shares during the last quarter. Burkett Financial Services LLC acquired a new stake in Sonoco Products during the fourth quarter worth approximately $30,000. TFO Wealth Partners LLC lifted its position in shares of Sonoco Products by 12,183.3% during the 4th quarter. TFO Wealth Partners LLC now owns 737 shares of the industrial products company’s stock worth $41,000 after buying an additional 731 shares during the last quarter. Finally, Parallel Advisors LLC boosted its holdings in shares of Sonoco Products by 154.6% in the 4th quarter. Parallel Advisors LLC now owns 881 shares of the industrial products company’s stock valued at $49,000 after buying an additional 535 shares in the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on SON shares. Raymond James began coverage on shares of Sonoco Products in a research note on Friday, July 19th. They set an “outperform” rating and a $62.00 price target on the stock. StockNews.com downgraded Sonoco Products from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 3rd. Citigroup decreased their target price on Sonoco Products from $64.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Finally, Wells Fargo & Company lowered Sonoco Products from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $54.00 to $52.00 in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.00.

Sonoco Products Stock Performance

NYSE SON traded up $1.28 during trading on Friday, reaching $56.62. The company’s stock had a trading volume of 1,150,066 shares, compared to its average volume of 893,917. The business’s fifty day moving average price is $51.28 and its 200-day moving average price is $55.52. Sonoco Products has a twelve month low of $53.00 and a twelve month high of $56.77. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.85 and a current ratio of 1.30. The firm has a market cap of $5.56 billion, a price-to-earnings ratio of 14.30, a P/E/G ratio of 2.07 and a beta of 0.68.

Sonoco Products (NYSE:SON) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.02. The firm had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Sonoco Products had a return on equity of 20.10% and a net margin of 5.57%. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.38 EPS. As a group, analysts anticipate that Sonoco Products will post 5.09 EPS for the current fiscal year.

Sonoco Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.67%. The ex-dividend date is Friday, August 9th. Sonoco Products’s dividend payout ratio (DPR) is presently 52.53%.

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.