Fox Run Management L.L.C. Acquires New Position in Sonoco Products (NYSE:SON)

Fox Run Management L.L.C. acquired a new stake in shares of Sonoco Products (NYSE:SON - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 15,894 shares of the industrial products company's stock, valued at approximately $776,000.

Several other hedge funds also recently bought and sold shares of the company. Principal Securities Inc. boosted its holdings in Sonoco Products by 35.0% in the 4th quarter. Principal Securities Inc. now owns 1,355 shares of the industrial products company's stock valued at $66,000 after purchasing an additional 351 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Sonoco Products during the third quarter valued at $71,000. Albion Financial Group UT purchased a new position in Sonoco Products during the fourth quarter worth about $84,000. SRS Capital Advisors Inc. increased its stake in Sonoco Products by 311.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,713 shares of the industrial products company's stock worth $84,000 after acquiring an additional 1,297 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Sonoco Products in the 3rd quarter valued at about $111,000. Hedge funds and other institutional investors own 77.69% of the company's stock.

Sonoco Products Trading Down 0.4 %

Shares of SON traded down $0.18 during mid-day trading on Friday, hitting $46.70. 521,666 shares of the company's stock traded hands, compared to its average volume of 718,962. The business's 50-day moving average price is $47.32 and its 200-day moving average price is $50.05. Sonoco Products has a 1 year low of $44.36 and a 1 year high of $61.73. The firm has a market capitalization of $4.61 billion, a P/E ratio of 28.30, a PEG ratio of 0.76 and a beta of 0.61. The company has a quick ratio of 1.91, a current ratio of 0.79 and a debt-to-equity ratio of 2.18.

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Sonoco Products (NYSE:SON - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.01). The company had revenue of $1.36 billion during 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, sell-side analysts forecast that Sonoco Products will post 6.1 EPS for the current fiscal year.

Sonoco Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 26th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.45%. The ex-dividend date of this dividend was Wednesday, February 26th. Sonoco Products's dividend payout ratio is currently 126.06%.

Insider Activity

In other Sonoco Products news, CEO R. Howard Coker bought 20,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was purchased at an average cost of $46.10 per share, for a total transaction of $922,000.00. Following the completion of the acquisition, the chief executive officer now owns 482,365 shares of the company's stock, valued at approximately $22,237,026.50. This trade represents a 4.33 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 directly owns 16,065 shares in the company, valued at approximately $770,316.75. This represents a 19.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

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.