Marshall Wace LLP Decreases Stock Position in Sonoco Products (NYSE:SON)

Marshall Wace LLP lowered its position in shares of Sonoco Products (NYSE:SON - Free Report) by 19.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 125,606 shares of the industrial products company's stock after selling 30,457 shares during the period. Marshall Wace LLP owned approximately 0.13% of Sonoco Products worth $6,136,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Barclays PLC boosted its holdings in Sonoco Products by 29.8% in the third quarter. Barclays PLC now owns 94,885 shares of the industrial products company's stock valued at $5,184,000 after purchasing an additional 21,799 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Sonoco Products during the third quarter worth approximately $71,000. Tidal Investments LLC increased its stake in shares of Sonoco Products by 36.0% in the third quarter. Tidal Investments LLC now owns 25,941 shares of the industrial products company's stock worth $1,417,000 after buying an additional 6,869 shares during the last quarter. Franklin Resources Inc. raised its holdings in Sonoco Products by 110.4% in the third quarter. Franklin Resources Inc. now owns 73,501 shares of the industrial products company's stock valued at $4,018,000 after acquiring an additional 38,564 shares in the last quarter. Finally, Trust Co of the South boosted its stake in Sonoco Products by 11.4% during the 4th quarter. Trust Co of the South now owns 16,248 shares of the industrial products company's stock valued at $794,000 after acquiring an additional 1,658 shares during the last quarter. 77.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director John R. Haley acquired 3,000 shares of Sonoco Products stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average price of $46.76 per share, with a total value of $140,280.00. Following the completion of the acquisition, the director now directly owns 18,558 shares of the company's stock, valued at $867,772.08. This trade represents a 19.28 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO R. Howard Coker bought 20,000 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average price of $46.10 per share, with a total value of $922,000.00. Following the transaction, the chief executive officer now directly owns 482,365 shares in the company, valued at $22,237,026.50. This represents a 4.33 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.74% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SON. Raymond James cut their target price on shares of Sonoco Products from $54.00 to $50.00 and set an "outperform" rating on the stock in a research note on Tuesday. Citigroup reduced their target price 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 report on Wednesday, March 5th. Wells Fargo & Company decreased their price objective on shares of Sonoco Products from $50.00 to $48.00 and set an "underweight" rating for the company in a report on Monday, February 24th. Finally, Jefferies Financial Group initiated coverage on shares of Sonoco Products in a report on Tuesday. They set a "buy" rating and a $62.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Sonoco Products currently has a consensus rating of "Moderate Buy" and a consensus target price of $56.43.

Sonoco Products Stock Performance

SON stock opened at $45.32 on Thursday. The stock's fifty day moving average is $45.73 and its two-hundred day moving average is $48.64. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 27.47, a PEG ratio of 0.76 and a beta of 0.64. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.91 and a current ratio of 0.79. Sonoco Products has a 1 year low of $39.46 and a 1 year high of $61.73.

Sonoco Products (NYSE:SON - Get Free Report) last posted its earnings results on Tuesday, February 18th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.18 by ($0.01). Sonoco Products had a net margin of 2.60% and a return on equity of 20.81%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.67 billion. On average, research analysts predict that Sonoco Products will post 6.1 EPS for the current year.

Sonoco Products Increases Dividend

The firm 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 is a boost from Sonoco Products's previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a yield of 4.68%. The ex-dividend date is Friday, May 9th. Sonoco Products's dividend payout ratio (DPR) is currently 128.48%.

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.

Want to see what other hedge funds are holding SON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sonoco Products (NYSE:SON - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.