SpiderRock Advisors LLC lifted its holdings in Sonoco Products (NYSE:SON - Free Report) by 469.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,411 shares of the industrial products company's stock after purchasing an additional 26,718 shares during the quarter. SpiderRock Advisors LLC's holdings in Sonoco Products were worth $1,771,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in SON. Capital Performance Advisors LLP acquired a new stake in shares of Sonoco Products in the 3rd quarter worth $33,000. Allspring Global Investments Holdings LLC purchased a new position in Sonoco Products in the 1st quarter worth $50,000. Abich Financial Wealth Management LLC purchased a new position in Sonoco Products in the 2nd quarter worth $50,000. Gradient Investments LLC purchased a new position in Sonoco Products in the 2nd quarter worth $58,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Sonoco Products by 821.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,879 shares of the industrial products company's stock worth $95,000 after acquiring an additional 1,675 shares during the last quarter. Institutional investors and hedge funds own 77.69% of the company's stock.
Sonoco Products Stock Performance
Shares of NYSE SON traded up $0.05 during trading on Friday, reaching $50.66. 881,879 shares of the company traded hands, compared to its average volume of 665,587. The firm's fifty day simple moving average is $53.64 and its 200 day simple moving average is $54.35. The stock has a market cap of $4.98 billion, a P/E ratio of 17.41, a PEG ratio of 2.08 and a beta of 0.69. Sonoco Products has a 12-month low of $48.22 and a 12-month high of $61.73. The company has a current ratio of 2.36, a quick ratio of 1.91 and a debt-to-equity ratio of 1.74.
Sonoco Products (NYSE:SON - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.49 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.04. Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the business posted $1.46 EPS. The company's revenue was down 2.0% on a year-over-year basis. As a group, research analysts anticipate that Sonoco Products will post 5.1 earnings per share for the current fiscal year.
Sonoco Products Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date is Friday, November 8th. Sonoco Products's dividend payout ratio (DPR) is presently 71.48%.
Analyst Ratings Changes
A number of brokerages recently issued reports on SON. Raymond James began coverage on Sonoco Products in a research note on Friday, July 19th. They issued an "outperform" rating and a $62.00 target price for the company. Wells Fargo & Company lowered Sonoco Products from an "equal weight" rating to an "underweight" rating and reduced their target price for the stock from $54.00 to $52.00 in a research note on Wednesday, August 21st. Robert W. Baird reduced their target price on Sonoco Products from $58.00 to $55.00 and set a "neutral" rating for the company in a research note on Monday, November 4th. Finally, Citigroup raised their target price on Sonoco Products from $62.00 to $63.00 and gave the stock a "buy" rating in a research note 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 stock. Based on data from MarketBeat, Sonoco Products presently has a consensus rating of "Hold" and a consensus target price of $58.00.
Check Out Our Latest Stock Report on SON
Sonoco Products Company Profile
(
Free Report)
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.
Featured Stories
Before you consider Sonoco Products, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sonoco Products wasn't on the list.
While Sonoco Products currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Keep reading to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
