Sonoco Products (NYSE:SON) Shares Purchased by Pacer Advisors Inc.

Pacer Advisors Inc. lifted its stake in Sonoco Products (NYSE:SON) by 13,464.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,980,297 shares of the industrial products company’s stock after acquiring an additional 1,965,698 shares during the quarter. Pacer Advisors Inc. owned 2.02% of Sonoco Products worth $100,441,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Wedmont Private Capital lifted its holdings in shares of Sonoco Products by 2.8% in the 1st quarter. Wedmont Private Capital now owns 6,541 shares of the industrial products company’s stock worth $382,000 after acquiring an additional 178 shares during the last quarter. Richardson Financial Services Inc. lifted its holdings in Sonoco Products by 5.7% during the 1st quarter. Richardson Financial Services Inc. now owns 3,345 shares of the industrial products company’s stock worth $193,000 after buying an additional 180 shares in the last quarter. Curbstone Financial Management Corp lifted its holdings in Sonoco Products by 0.7% during the 1st quarter. Curbstone Financial Management Corp now owns 27,750 shares of the industrial products company’s stock worth $1,605,000 after buying an additional 200 shares in the last quarter. FinTrust Capital Advisors LLC lifted its holdings in Sonoco Products by 78.8% during the 1st quarter. FinTrust Capital Advisors LLC now owns 490 shares of the industrial products company’s stock worth $28,000 after buying an additional 216 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in Sonoco Products by 2.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 8,862 shares of the industrial products company’s stock worth $445,000 after buying an additional 237 shares in the last quarter. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Sonoco Products Trading Down 0.8 %

Shares of NYSE:SON opened at $54.54 on Friday. The company has a current ratio of 1.30, a quick ratio of 0.85 and a debt-to-equity ratio of 1.04. The company’s 50 day moving average is $52.70 and its two-hundred day moving average is $55.34. The company has a market cap of $5.36 billion, a PE ratio of 13.77, a P/E/G ratio of 2.16 and a beta of 0.68. Sonoco Products has a 52 week low of $48.22 and a 52 week high of $61.73.

Sonoco Products (NYSE:SON) last posted its earnings results on Wednesday, July 31st. The industrial products company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.02. The firm had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.69 billion. Sonoco Products had a net margin of 5.57% and a return on equity of 20.10%. The company’s revenue was down 4.8% on a year-over-year basis. During the same period last year, the firm posted $1.38 EPS. Equities analysts predict that Sonoco Products will post 5.09 earnings per share for the current fiscal year.

Sonoco Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend was Friday, August 9th. Sonoco Products’s dividend payout ratio (DPR) is 52.53%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Raymond James assumed coverage on shares of Sonoco Products in a report on Friday, July 19th. They set an “outperform” rating and a $62.00 target price on the stock. StockNews.com downgraded shares of Sonoco Products from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 3rd. Wells Fargo & Company downgraded shares of Sonoco Products from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $54.00 to $52.00 in a research report on Wednesday, August 21st. Finally, Citigroup dropped their price objective on shares of Sonoco Products from $64.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Sonoco Products presently has an average rating of “Moderate Buy” and an average price target of $58.00.

About Sonoco Products

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.