Sonoco Products (NYSE:SON) Shares Purchased by Sei Investments Co.

Sei Investments Co. increased its stake in shares of Sonoco Products (NYSE:SON) by 6.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,363,937 shares of the industrial products company’s stock after purchasing an additional 88,407 shares during the quarter. Sei Investments Co. owned 1.39% of Sonoco Products worth $78,890,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Rise Advisors LLC acquired a new stake in shares of Sonoco Products during the first quarter worth $26,000. Bruce G. Allen Investments LLC acquired a new stake in Sonoco Products in the fourth quarter valued at $28,000. FinTrust Capital Advisors LLC lifted its holdings 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 acquiring an additional 216 shares during the period. Burkett Financial Services LLC acquired a new stake in Sonoco Products in the fourth quarter valued at $30,000. Finally, TFO Wealth Partners LLC lifted its holdings in Sonoco Products by 12,183.3% in the fourth quarter. TFO Wealth Partners LLC now owns 737 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 731 shares during the period. 77.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on SON. StockNews.com downgraded Sonoco Products from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 3rd. Citigroup reduced their target price on Sonoco Products from $64.00 to $60.00 and set a “buy” rating for the company in a report on Monday, July 8th. Finally, Wells Fargo & Company raised their target price on Sonoco Products from $56.00 to $57.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Sonoco Products presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.50.

Sonoco Products Price Performance

Shares of SON stock traded down $0.31 during mid-day trading on Monday, reaching $50.57. The stock had a trading volume of 556,898 shares, compared to its average volume of 567,789. Sonoco Products has a 12-month low of $48.22 and a 12-month high of $61.73. The company has a market cap of $4.97 billion, a P/E ratio of 12.94, a price-to-earnings-growth ratio of 2.23 and a beta of 0.68. The business has a 50-day simple moving average of $56.60 and a 200 day simple moving average of $56.83. The company has a current ratio of 1.31, a quick ratio of 0.83 and a debt-to-equity ratio of 1.08.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.07. Sonoco Products had a return on equity of 20.79% and a net margin of 5.86%. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter last year, the business posted $1.40 earnings per share. The business’s revenue for the quarter was down 5.3% on a year-over-year basis. On average, sell-side analysts anticipate that Sonoco Products will post 5.08 earnings per share for the current year.

Sonoco Products Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date was Thursday, May 9th. This is a boost from Sonoco Products’s previous quarterly dividend of $0.51. Sonoco Products’s dividend payout ratio (DPR) is currently 52.53%.

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.