Elevated Capital Advisors LLC Makes New Investment in Sonoco Products (NYSE:SON)

Elevated Capital Advisors LLC acquired a new position in shares of Sonoco Products (NYSE:SON - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,881 shares of the industrial products company's stock, valued at approximately $552,000.

Several other hedge funds also recently modified their holdings of the stock. Rise Advisors LLC bought a new position in Sonoco Products in the first quarter valued at approximately $26,000. FinTrust Capital Advisors LLC grew its stake in shares of Sonoco Products by 78.8% in the first quarter. FinTrust Capital Advisors LLC now owns 490 shares of the industrial products company's stock valued at $28,000 after buying an additional 216 shares in the last quarter. Burkett Financial Services LLC acquired a new position in Sonoco Products during the fourth quarter worth $30,000. TFO Wealth Partners LLC raised its position in Sonoco Products by 12,183.3% during the fourth quarter. TFO Wealth Partners LLC now owns 737 shares of the industrial products company's stock worth $41,000 after acquiring an additional 731 shares in the last quarter. Finally, Parallel Advisors LLC lifted its stake in Sonoco Products by 154.6% in the fourth quarter. Parallel Advisors LLC now owns 881 shares of the industrial products company's stock valued at $49,000 after acquiring an additional 535 shares during the last quarter. Institutional investors own 77.69% of the company's stock.

Sonoco Products Stock Performance

Sonoco Products stock traded down $0.96 during trading hours on Tuesday, hitting $55.61. The company had a trading volume of 884,006 shares, compared to its average volume of 722,927. The firm has a 50-day moving average of $51.34 and a 200 day moving average of $55.51. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.30 and a quick ratio of 0.85. The firm has a market cap of $5.46 billion, a PE ratio of 14.16, a PEG ratio of 2.20 and a beta of 0.68. Sonoco Products has a one year low of $55.52 and a one year high of $56.58.

Sonoco Products (NYSE:SON - Get Free Report) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.26 by $0.02. The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.69 billion. Sonoco Products had a return on equity of 20.10% and a net margin of 5.57%. The firm's quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.38 earnings per share. On average, sell-side analysts expect that Sonoco Products will post 5.09 earnings per share for the current year.

Sonoco Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 3.74%. Sonoco Products's dividend payout ratio (DPR) is presently 52.53%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Citigroup dropped their target price on shares of Sonoco Products from $64.00 to $60.00 and set a "buy" rating on the stock in a report on Monday, July 8th. Raymond James began coverage on Sonoco Products in a research note on Friday, July 19th. They issued an "outperform" rating and a $62.00 price objective on the stock. Wells Fargo & Company cut Sonoco Products from an "equal weight" rating to an "underweight" rating and cut their price objective for the company from $54.00 to $52.00 in a research report on Wednesday, August 21st. Finally, StockNews.com lowered Sonoco Products from a "strong-buy" rating to a "buy" rating in a report on Wednesday, July 3rd. One analyst has rated the stock with a sell rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $58.00.

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.