CANADA LIFE ASSURANCE Co Has $4.51 Million Stake in Sonoco Products (NYSE:SON)

CANADA LIFE ASSURANCE Co grew its holdings in Sonoco Products (NYSE:SON - Free Report) by 6.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 92,388 shares of the industrial products company's stock after purchasing an additional 5,572 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.09% of Sonoco Products worth $4,509,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in Sonoco Products during the 3rd quarter worth $71,000. Principal Securities Inc. lifted its holdings 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 buying an additional 351 shares in the last quarter. SRS Capital Advisors Inc. lifted its holdings in 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 worth $84,000 after buying an additional 1,297 shares in the last quarter. Albion Financial Group UT acquired a new position in Sonoco Products during the 4th quarter worth $84,000. Finally, GAMMA Investing LLC lifted its holdings in Sonoco Products by 33.8% during the 4th quarter. GAMMA Investing LLC now owns 3,158 shares of the industrial products company's stock worth $154,000 after buying an additional 798 shares in the last quarter. Institutional investors own 77.69% of the company's stock.

Sonoco Products Stock Up 0.6 %

Shares of NYSE SON traded up $0.29 during mid-day trading on Monday, reaching $46.48. 451,075 shares of the company's stock were exchanged, compared to its average volume of 750,878. The company has a current ratio of 0.79, a quick ratio of 1.91 and a debt-to-equity ratio of 2.18. The business has a fifty day simple moving average of $45.66 and a 200 day simple moving average of $48.48. Sonoco Products has a twelve month low of $39.46 and a twelve month high of $61.73. The firm has a market capitalization of $4.58 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 0.76 and a beta of 0.64.

Sonoco Products (NYSE:SON - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.67 billion. Sonoco Products had a return on equity of 20.81% and a net margin of 2.60%. As a group, equities analysts expect that Sonoco Products will post 6.1 EPS for the current fiscal year.

Sonoco Products Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date is Friday, May 9th. This is a positive change from Sonoco Products's previous quarterly dividend of $0.52. Sonoco Products's dividend payout ratio (DPR) is currently 128.48%.

Analyst Ratings Changes

Several research analysts have issued reports on SON shares. 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 report on Monday, February 24th. Truist Financial cut their price target on Sonoco Products from $60.00 to $54.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Bank of America increased their price target on Sonoco Products from $66.00 to $71.00 and gave the company a "buy" rating in a research note on Monday, January 6th. StockNews.com downgraded Sonoco Products from a "hold" rating to a "sell" rating in a research note on Friday. Finally, Jefferies Financial Group started coverage on Sonoco Products in a research note on Tuesday, April 22nd. They issued a "buy" rating and a $62.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Sonoco Products has a consensus rating of "Hold" and a consensus target price of $56.43.

Insider Buying and Selling at Sonoco Products

In other news, CEO R. Howard Coker purchased 20,000 shares of the company's stock in a transaction on Thursday, March 13th. The shares were purchased at an average cost of $46.10 per share, with a total value of $922,000.00. Following the completion of the transaction, the chief executive officer now owns 482,365 shares of the company's stock, valued at $22,237,026.50. The trade was a 4.33 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John R. Haley purchased 3,000 shares of the business's stock in a transaction on Thursday, February 27th. The stock was purchased at an average price of $46.76 per share, with a total value of $140,280.00. Following the purchase, the director now owns 18,558 shares of the company's stock, valued at approximately $867,772.08. The trade was a 19.28 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.74% of the company's stock.

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.