Sonoco Products (NYSE:SON) Shares Bought by Jane Street Group LLC

Jane Street Group LLC boosted its stake in shares of Sonoco Products (NYSE:SON - Free Report) by 312.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 185,351 shares of the industrial products company's stock after buying an additional 140,370 shares during the quarter. Jane Street Group LLC owned 0.19% of Sonoco Products worth $10,126,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Stifel Financial Corp increased its position in shares of Sonoco Products by 18.6% in the third quarter. Stifel Financial Corp now owns 194,209 shares of the industrial products company's stock valued at $10,610,000 after buying an additional 30,500 shares in the last quarter. Quantinno Capital Management LP raised its position in Sonoco Products by 32.7% during the third quarter. Quantinno Capital Management LP now owns 21,678 shares of the industrial products company's stock worth $1,184,000 after acquiring an additional 5,338 shares during the last quarter. Holocene Advisors LP lifted its holdings in shares of Sonoco Products by 163.5% in the third quarter. Holocene Advisors LP now owns 93,819 shares of the industrial products company's stock valued at $5,125,000 after purchasing an additional 58,214 shares in the last quarter. Verition Fund Management LLC grew its position in shares of Sonoco Products by 1,736.5% in the third quarter. Verition Fund Management LLC now owns 148,940 shares of the industrial products company's stock valued at $8,137,000 after purchasing an additional 140,830 shares during the last quarter. Finally, Walleye Capital LLC increased its stake in shares of Sonoco Products by 50.1% during the 3rd quarter. Walleye Capital LLC now owns 9,696 shares of the industrial products company's stock worth $530,000 after purchasing an additional 3,237 shares in the last quarter. 77.69% of the stock is owned by hedge funds and other institutional investors.

Sonoco Products Trading Down 0.6 %

Shares of SON traded down $0.31 during trading hours on Friday, hitting $51.82. The stock had a trading volume of 296,708 shares, compared to its average volume of 613,039. Sonoco Products has a 12-month low of $48.22 and a 12-month high of $61.73. The firm has a market cap of $5.09 billion, a P/E ratio of 17.73, a P/E/G ratio of 2.14 and a beta of 0.67. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.91 and a current ratio of 2.36. The company's fifty day simple moving average is $51.96 and its 200 day simple moving average is $53.14.

Sonoco Products (NYSE:SON - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $1.45 by $0.04. Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period last year, the business posted $1.46 EPS. The company's quarterly revenue was down 2.0% compared to the same quarter last year. Equities research analysts forecast that Sonoco Products will post 5.09 EPS for the current fiscal year.

Sonoco Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date was Friday, November 8th. Sonoco Products's dividend payout ratio is presently 71.48%.

Analysts Set New Price Targets

SON has been the topic of a number of recent research reports. Truist Financial started coverage on Sonoco Products in a research note on Tuesday, November 26th. They issued a "buy" rating and a $63.00 target price on the stock. Wells Fargo & Company downgraded Sonoco Products from an "equal weight" rating to an "underweight" rating and reduced their price objective for the company from $54.00 to $52.00 in a research report on Wednesday, August 21st. Citigroup lifted their price objective on Sonoco Products from $62.00 to $63.00 and gave the stock a "buy" rating in a research report on Wednesday, October 2nd. Finally, Robert W. Baird reduced their target price on shares of Sonoco Products from $58.00 to $55.00 and set a "neutral" rating on the stock in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Sonoco Products has a consensus rating of "Moderate Buy" and a consensus target price of $59.00.

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.