Brandes Investment Partners LP Boosts Stake in Sonoco Products (NYSE:SON)

Brandes Investment Partners LP lifted its position in Sonoco Products (NYSE:SON - Free Report) by 55.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,579 shares of the industrial products company's stock after purchasing an additional 6,259 shares during the quarter. Brandes Investment Partners LP's holdings in Sonoco Products were worth $859,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Sonoco Products in the third quarter worth about $71,000. Principal Securities Inc. increased its holdings in shares of Sonoco Products by 35.0% in the fourth 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 during the last quarter. SRS Capital Advisors Inc. increased its holdings in shares of Sonoco Products by 311.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,713 shares of the industrial products company's stock worth $84,000 after purchasing an additional 1,297 shares during the last quarter. Albion Financial Group UT bought a new stake in shares of Sonoco Products in the fourth quarter worth about $84,000. Finally, Quantbot Technologies LP bought a new stake in shares of Sonoco Products in the third quarter worth about $111,000. 77.69% of the stock is owned by institutional investors.

Sonoco Products Trading Up 0.3 %

Shares of NYSE:SON traded up $0.16 during trading hours on Tuesday, hitting $47.33. 329,712 shares of the company's stock traded hands, compared to its average volume of 808,450. Sonoco Products has a 1 year low of $44.35 and a 1 year high of $61.73. The business has a fifty day moving average price of $47.31 and a 200-day moving average price of $50.49. The firm has a market capitalization of $4.65 billion, a P/E ratio of 28.68, a price-to-earnings-growth ratio of 0.76 and a beta of 0.61. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.79 and a quick ratio of 1.91.

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Sonoco Products (NYSE:SON - Get Free Report) last announced its 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 net margin of 2.60% and a return on equity of 20.81%. The business had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.67 billion. Equities analysts expect that Sonoco Products will post 6.1 earnings per share for the current year.

Sonoco Products Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Citigroup reduced their price objective on Sonoco Products from $59.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company reduced their price objective on Sonoco Products from $50.00 to $48.00 and set an "underweight" rating on the stock in a research note on Monday, February 24th. StockNews.com raised Sonoco Products from a "sell" rating to a "hold" rating in a research note on Wednesday, March 5th. Bank of America boosted their price objective on Sonoco Products from $66.00 to $71.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Finally, Truist Financial reduced their price objective on Sonoco Products from $68.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $58.50.

Insider Activity at Sonoco Products

In related news, Director Robert R. Hill, Jr. sold 4,000 shares of the business's stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $47.95, for a total value of $191,800.00. Following the completion of the sale, the director now owns 16,065 shares in the company, valued at approximately $770,316.75. The trade was a 19.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John R. Haley bought 3,000 shares of the stock in a transaction on Thursday, February 27th. The shares were bought at an average price of $46.76 per share, with a total value of $140,280.00. Following the acquisition, the director now owns 18,558 shares of the company's stock, valued at $867,772.08. This trade represents a 19.28 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.51% of the stock is owned by company insiders.

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.