Sanctuary Advisors LLC Buys Shares of 14,141 Sonoco Products (NYSE:SON)

Sanctuary Advisors LLC purchased a new stake in Sonoco Products (NYSE:SON - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,141 shares of the industrial products company's stock, valued at approximately $717,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SON. Richardson Financial Services Inc. purchased a new position in shares of Sonoco Products during the fourth quarter worth about $177,000. SageView Advisory Group LLC increased its position in Sonoco Products by 17.8% during the fourth quarter. SageView Advisory Group LLC now owns 13,088 shares of the industrial products company's stock worth $765,000 after buying an additional 1,977 shares during the period. Quadrature Capital Ltd purchased a new stake in Sonoco Products in the fourth quarter valued at approximately $969,000. Kapitalo Investimentos Ltda boosted its holdings in shares of Sonoco Products by 93.9% in the fourth quarter. Kapitalo Investimentos Ltda now owns 9,123 shares of the industrial products company's stock valued at $510,000 after acquiring an additional 4,417 shares during the period. Finally, M&R Capital Management Inc. grew its position in shares of Sonoco Products by 40.5% during the first quarter. M&R Capital Management Inc. now owns 1,298 shares of the industrial products company's stock worth $75,000 after acquiring an additional 374 shares during the last quarter. Institutional investors and hedge funds own 77.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SON shares. Citigroup upped their price target on shares of Sonoco Products from $62.00 to $63.00 and gave the company a "buy" rating in a research report on Wednesday, October 2nd. Wells Fargo & Company downgraded shares of Sonoco Products from an "equal weight" rating to an "underweight" rating and decreased their target price for the stock from $54.00 to $52.00 in a research note on Wednesday, August 21st. StockNews.com cut Sonoco Products from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, July 3rd. Finally, 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. One equities research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $59.00.

Sonoco Products Stock Performance

Shares of Sonoco Products stock traded up $0.44 on Monday, reaching $54.64. 420,290 shares of the stock were exchanged, compared to its average volume of 610,327. The firm has a market capitalization of $5.37 billion, a PE ratio of 13.69, a PEG ratio of 2.08 and a beta of 0.68. Sonoco Products has a 1-year low of $48.22 and a 1-year high of $61.73. The business has a fifty day moving average price of $53.25 and a two-hundred day moving average price of $55.00. The company has a current ratio of 1.30, a quick ratio of 0.85 and a debt-to-equity ratio of 1.04.

Sonoco Products (NYSE:SON - Get Free Report) last released its earnings results on Wednesday, July 31st. The industrial products company reported $1.28 earnings per share (EPS) 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 analysts' expectations of $1.69 billion. During the same quarter in the previous year, the firm posted $1.38 EPS. The firm's quarterly revenue was down 4.8% on a year-over-year basis. As a group, research analysts anticipate that Sonoco Products will post 5.09 earnings per share for the current fiscal year.

Sonoco Products Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.81%. Sonoco Products's payout ratio is 52.53%.

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.