Quest Partners LLC Has $3.14 Million Holdings in Sonoco Products (NYSE:SON)

Quest Partners LLC increased its holdings in Sonoco Products (NYSE:SON - Free Report) by 179.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,467 shares of the industrial products company's stock after purchasing an additional 36,900 shares during the quarter. Quest Partners LLC owned 0.06% of Sonoco Products worth $3,139,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SON. Earnest Partners LLC grew its holdings in shares of Sonoco Products by 2.5% in the 2nd quarter. Earnest Partners LLC now owns 2,645,744 shares of the industrial products company's stock worth $134,192,000 after acquiring an additional 64,915 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Sonoco Products by 11.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,631,259 shares of the industrial products company's stock worth $133,465,000 after purchasing an additional 261,062 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Sonoco Products by 2.4% during the 2nd quarter. Victory Capital Management Inc. now owns 2,195,155 shares of the industrial products company's stock worth $111,338,000 after buying an additional 50,577 shares during the period. Pacer Advisors Inc. lifted its stake in Sonoco Products by 13,464.6% during the second quarter. Pacer Advisors Inc. now owns 1,980,297 shares of the industrial products company's stock valued at $100,441,000 after buying an additional 1,965,698 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Sonoco Products by 9.3% in the second quarter. Sei Investments Co. now owns 1,490,580 shares of the industrial products company's stock worth $75,602,000 after buying an additional 126,643 shares during the period. 77.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SON has been the subject of several research analyst reports. Wells Fargo & Company downgraded shares of Sonoco Products from an "equal weight" rating to an "underweight" rating and reduced their price target for the company from $54.00 to $52.00 in a research report on Wednesday, August 21st. Robert W. Baird decreased their target price on Sonoco Products from $58.00 to $55.00 and set a "neutral" rating for the company in a research report on Monday, November 4th. Finally, Citigroup upped their price target on Sonoco Products from $62.00 to $63.00 and gave the company a "buy" rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $58.00.

Sonoco Products Stock Down 0.3 %

Shares of Sonoco Products stock traded down $0.16 on Monday, hitting $49.91. 510,724 shares of the company traded hands, compared to its average volume of 615,757. The company has a quick ratio of 1.91, a current ratio of 2.36 and a debt-to-equity ratio of 1.74. Sonoco Products has a 12-month low of $48.22 and a 12-month high of $61.73. The company has a 50-day moving average price of $53.07 and a 200 day moving average price of $54.10. The company has a market cap of $4.90 billion, a PE ratio of 17.15, a PEG ratio of 2.06 and a beta of 0.69.

Sonoco Products (NYSE:SON - Get Free Report) last issued its earnings results on Thursday, October 31st. The industrial products company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.04. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.72 billion. Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. The business's revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.46 EPS. Sell-side analysts predict that Sonoco Products will post 5.1 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, December 10th. Shareholders of record on Friday, November 8th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.17%. The ex-dividend date is Friday, November 8th. Sonoco Products's dividend payout ratio is 71.48%.

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.