Stifel Financial Corp Has $10.61 Million Stake in Sonoco Products (NYSE:SON)

Stifel Financial Corp raised its stake in Sonoco Products (NYSE:SON - Free Report) by 18.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 194,209 shares of the industrial products company's stock after buying an additional 30,500 shares during the quarter. Stifel Financial Corp owned approximately 0.20% of Sonoco Products worth $10,610,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pacer Advisors Inc. increased its stake in shares of Sonoco Products by 13,464.6% in 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 purchasing an additional 1,965,698 shares during the period. Private Management Group Inc. bought a new stake in Sonoco Products during the 3rd quarter valued at $24,994,000. Charles Schwab Investment Management Inc. boosted its position in Sonoco Products by 50.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,029,166 shares of the industrial products company's stock worth $56,223,000 after acquiring an additional 344,658 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Sonoco Products by 11.0% in the second 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. Finally, AQR Capital Management LLC grew its position in Sonoco Products by 80.8% in the 2nd quarter. AQR Capital Management LLC now owns 555,575 shares of the industrial products company's stock valued at $28,179,000 after buying an additional 248,236 shares in the last quarter. Institutional investors and hedge funds own 77.69% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SON shares. Truist Financial assumed coverage on Sonoco Products in a report on Tuesday, November 26th. They set a "buy" rating and a $63.00 target price on the stock. Robert W. Baird decreased their price target 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. 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. Finally, Citigroup lifted their target price on Sonoco Products from $62.00 to $63.00 and gave the company a "buy" rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Sonoco Products currently has an average rating of "Moderate Buy" and a consensus price target of $59.00.

Sonoco Products Stock Up 0.2 %

SON stock traded up $0.12 during trading hours on Thursday, hitting $52.14. The company's stock had a trading volume of 775,659 shares, compared to its average volume of 614,496. The company has a quick ratio of 1.91, a current ratio of 2.36 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $5.12 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 2.11 and a beta of 0.67. Sonoco Products has a 12 month low of $48.22 and a 12 month high of $61.73. The stock has a 50 day moving average price of $51.96 and a two-hundred day moving average price of $53.14.

Sonoco Products (NYSE:SON - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.49 EPS 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 for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the firm posted $1.46 EPS. The firm's revenue for the quarter was down 2.0% on a year-over-year basis. On average, equities research analysts expect that Sonoco Products will post 5.09 earnings per share for the current year.

Sonoco Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 8th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.99%. The ex-dividend date of this dividend was Friday, November 8th. Sonoco Products's dividend payout ratio is currently 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.