Sonoco Products (NYSE:SON) Shares Bought by Raymond James & Associates

Raymond James & Associates raised its stake in shares of Sonoco Products (NYSE:SON - Free Report) by 18.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,583 shares of the industrial products company's stock after purchasing an additional 18,648 shares during the quarter. Raymond James & Associates owned about 0.12% of Sonoco Products worth $6,642,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Richardson Financial Services Inc. boosted its holdings in shares of Sonoco Products by 5.7% in the 1st quarter. Richardson Financial Services Inc. now owns 3,345 shares of the industrial products company's stock valued at $193,000 after acquiring an additional 180 shares during the last quarter. FinTrust Capital Advisors LLC lifted its holdings in Sonoco Products by 78.8% during the first quarter. FinTrust Capital Advisors LLC now owns 490 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 216 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in Sonoco Products by 2.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 8,862 shares of the industrial products company's stock valued at $445,000 after purchasing an additional 237 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Sonoco Products by 1.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,765 shares of the industrial products company's stock valued at $1,002,000 after buying an additional 298 shares during the last quarter. Finally, TD Asset Management Inc raised its position in shares of Sonoco Products by 2.0% in the second quarter. TD Asset Management Inc now owns 15,200 shares of the industrial products company's stock valued at $771,000 after buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 77.69% of the company's stock.

Sonoco Products Trading Up 0.1 %

SON stock traded up $0.07 during mid-day trading on Thursday, hitting $52.54. 911,369 shares of the company were exchanged, compared to its average volume of 612,481. 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 firm has a market capitalization of $5.16 billion, a P/E ratio of 14.12, a PEG ratio of 2.22 and a beta of 0.68. The business has a fifty day simple moving average of $54.08 and a 200-day simple moving average of $54.61. Sonoco Products has a 12-month low of $48.22 and a 12-month high of $61.73.

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 the consensus estimate of $1.26 by $0.02. The company had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.69 billion. Sonoco Products had a net margin of 5.57% and a return on equity of 20.10%. Sonoco Products's revenue was down 4.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.38 earnings per share. On average, equities research analysts predict that Sonoco Products will post 5 earnings per share for the current fiscal year.

Sonoco Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.96%. The ex-dividend date is Friday, November 8th. Sonoco Products's payout ratio is 55.91%.

Analyst Ratings Changes

A number of brokerages have recently commented on SON. StockNews.com cut shares of Sonoco Products from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, July 3rd. Citigroup raised their price objective on shares of Sonoco Products from $62.00 to $63.00 and gave the stock a "buy" rating in a research report on Wednesday, October 2nd. Raymond James started coverage on shares of 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, Wells Fargo & Company cut shares of Sonoco Products from an "equal weight" rating to an "underweight" rating and cut their price objective for the stock from $54.00 to $52.00 in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $59.00.

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.