Oak Thistle LLC Has $1.03 Million Stock Holdings in Sonoco Products (NYSE:SON)

Oak Thistle LLC boosted its holdings in shares of Sonoco Products (NYSE:SON - Free Report) by 368.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,321 shares of the industrial products company's stock after purchasing an additional 15,981 shares during the period. Sonoco Products makes up approximately 0.8% of Oak Thistle LLC's holdings, making the stock its 7th biggest position. Oak Thistle LLC's holdings in Sonoco Products were worth $1,031,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Rise Advisors LLC purchased a new position in Sonoco Products in the 1st quarter worth about $26,000. FinTrust Capital Advisors LLC increased its position 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 worth $28,000 after acquiring an additional 216 shares in the last quarter. Burkett Financial Services LLC acquired a new stake in shares of Sonoco Products during the fourth quarter valued at approximately $30,000. TFO Wealth Partners LLC lifted its position in shares of Sonoco Products by 12,183.3% in the 4th quarter. TFO Wealth Partners LLC now owns 737 shares of the industrial products company's stock valued at $41,000 after acquiring an additional 731 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in Sonoco Products by 154.6% in the 4th quarter. Parallel Advisors LLC now owns 881 shares of the industrial products company's stock worth $49,000 after purchasing an additional 535 shares during the period. 77.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Sonoco Products Stock Down 0.4 %

Shares of Sonoco Products stock traded down $0.22 on Friday, hitting $55.02. 506,261 shares of the company traded hands, compared to its average volume of 679,727. Sonoco Products has a 12-month low of $54.28 and a 12-month high of $56.66. The company has a quick ratio of 0.85, a current ratio of 1.30 and a debt-to-equity ratio of 1.04. The company has a market cap of $5.41 billion, a PE ratio of 13.89, a PEG ratio of 2.11 and a beta of 0.68. The company has a 50-day moving average price of $51.63 and a 200 day moving average price of $55.48.

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

Sonoco Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date is Friday, August 9th. Sonoco Products's dividend payout ratio (DPR) is presently 52.53%.

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.