Sonoco Products (NYSE:SON) Shares Purchased by Natixis

Natixis raised its position in shares of Sonoco Products (NYSE:SON - Free Report) by 120,995.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,219 shares of the industrial products company's stock after buying an additional 24,199 shares during the quarter. Natixis' holdings in Sonoco Products were worth $1,183,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Arizona State Retirement System grew its holdings in Sonoco Products by 0.8% in the fourth quarter. Arizona State Retirement System now owns 28,516 shares of the industrial products company's stock valued at $1,393,000 after purchasing an additional 224 shares during the period. IFP Advisors Inc lifted its position in shares of Sonoco Products by 3.6% during the 4th quarter. IFP Advisors Inc now owns 7,073 shares of the industrial products company's stock valued at $346,000 after buying an additional 243 shares in the last quarter. Wedmont Private Capital grew its stake in Sonoco Products by 3.9% in the 4th quarter. Wedmont Private Capital now owns 6,652 shares of the industrial products company's stock valued at $306,000 after acquiring an additional 247 shares during the period. Treasurer of the State of North Carolina increased its holdings in Sonoco Products by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 43,056 shares of the industrial products company's stock worth $2,103,000 after acquiring an additional 270 shares in the last quarter. Finally, Pallas Capital Advisors LLC raised its position in Sonoco Products by 6.4% during the fourth quarter. Pallas Capital Advisors LLC now owns 4,701 shares of the industrial products company's stock worth $230,000 after acquiring an additional 284 shares during the period. 77.69% of the stock is currently owned by institutional investors.

Sonoco Products Stock Up 0.7 %

SON stock traded up $0.34 during midday trading on Monday, reaching $46.53. 289,954 shares of the company were exchanged, compared to its average volume of 750,349. The company has a market cap of $4.59 billion, a price-to-earnings ratio of 28.19, a price-to-earnings-growth 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. The stock's 50-day simple moving average is $45.66 and its 200 day simple moving average is $48.48.

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

Sonoco Products Increases Dividend

The firm also recently declared 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 an increase from Sonoco Products's previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Friday, May 9th. This represents a $2.12 annualized dividend and a yield of 4.56%. Sonoco Products's dividend payout ratio is 128.48%.

Analysts Set New Price Targets

A number of analysts have recently commented on SON shares. Citigroup cut their target price on shares of Sonoco Products from $59.00 to $55.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Wells Fargo & Company reduced their target price on Sonoco Products from $50.00 to $48.00 and set an "underweight" rating for the company in a report on Monday, February 24th. Truist Financial dropped their target price on shares of Sonoco Products from $60.00 to $54.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Jefferies Financial Group assumed coverage on Sonoco Products in a research report on Tuesday, April 22nd. They set a "buy" rating and a $62.00 price objective on the stock. Finally, Raymond James cut their price objective on shares of Sonoco Products from $54.00 to $50.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. 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 company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $56.43.

Insider Buying and Selling

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