Sonoco Products (NYSE:SON) Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans boosted its holdings in shares of Sonoco Products (NYSE:SON - Free Report) by 305.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 97,024 shares of the industrial products company's stock after purchasing an additional 73,099 shares during the period. Thrivent Financial for Lutherans owned about 0.10% of Sonoco Products worth $5,300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. GoalVest Advisory LLC raised its stake in shares of Sonoco Products by 8.4% during the 3rd quarter. GoalVest Advisory LLC now owns 20,885 shares of the industrial products company's stock valued at $1,141,000 after buying an additional 1,624 shares during the last quarter. RIA Advisory Group LLC purchased a new position in Sonoco Products during the third quarter valued at approximately $257,000. Natixis Advisors LLC lifted its holdings in Sonoco Products by 25.9% in the third quarter. Natixis Advisors LLC now owns 166,881 shares of the industrial products company's stock valued at $9,117,000 after acquiring an additional 34,382 shares during the period. Valley Wealth Managers Inc. boosted its position in Sonoco Products by 11.7% in the 3rd quarter. Valley Wealth Managers Inc. now owns 73,126 shares of the industrial products company's stock worth $3,995,000 after purchasing an additional 7,635 shares in the last quarter. Finally, Empowered Funds LLC grew its stake in shares of Sonoco Products by 13.4% during the 3rd quarter. Empowered Funds LLC now owns 49,073 shares of the industrial products company's stock worth $2,681,000 after purchasing an additional 5,792 shares during the period. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Sonoco Products Price Performance

Shares of SON traded up $0.77 during trading hours on Friday, hitting $50.92. 483,421 shares of the stock were exchanged, compared to its average volume of 660,236. The stock's 50-day moving average price is $52.72 and its two-hundred day moving average price is $53.88. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.91 and a current ratio of 2.36. The company has a market cap of $5.00 billion, a price-to-earnings ratio of 17.50, a price-to-earnings-growth ratio of 2.06 and a beta of 0.69. 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 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 business had revenue of $1.68 billion for the quarter, compared to analysts' expectations 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 for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.46 EPS. Research analysts expect that Sonoco Products will post 5.1 earnings per share for the current year.

Sonoco Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.08%. Sonoco Products's payout ratio is 71.48%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SON. Wells Fargo & Company cut shares of Sonoco Products from an "equal weight" rating to an "underweight" rating and cut their price objective for the company from $54.00 to $52.00 in a report on Wednesday, August 21st. Robert W. Baird dropped their price objective on Sonoco Products from $58.00 to $55.00 and set a "neutral" rating on the stock in a report on Monday, November 4th. Finally, Citigroup upped 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 research 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.com, Sonoco Products presently has an average rating of "Hold" and an average target price of $58.00.

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.