Sonoco Products (NYSE:SON) Shares Purchased by Cwm LLC

Cwm LLC grew its position in shares of Sonoco Products (NYSE:SON) by 111.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,454 shares of the industrial products company’s stock after acquiring an additional 3,404 shares during the quarter. Cwm LLC’s holdings in Sonoco Products were worth $353,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Richardson Financial Services Inc. increased its position 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 purchasing an additional 180 shares in the last quarter. FinTrust Capital Advisors LLC increased its position in shares of Sonoco Products by 78.8% in the first quarter. FinTrust Capital Advisors LLC now owns 490 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 216 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of Sonoco Products by 2.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 8,862 shares of the industrial products company’s stock worth $445,000 after acquiring an additional 237 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Sonoco Products by 1.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,765 shares of the industrial products company’s stock valued at $1,002,000 after acquiring an additional 298 shares during the period. Finally, TD Asset Management Inc boosted its position in Sonoco Products by 2.0% during the 2nd quarter. TD Asset Management Inc now owns 15,200 shares of the industrial products company’s stock worth $771,000 after purchasing an additional 300 shares during the period. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Sonoco Products Price Performance

Shares of NYSE SON opened at $52.96 on Monday. The company has a quick ratio of 0.85, a current ratio of 1.30 and a debt-to-equity ratio of 1.04. Sonoco Products has a fifty-two week low of $48.22 and a fifty-two week high of $61.73. The business has a 50 day moving average price of $53.71 and a two-hundred day moving average price of $54.89. The firm has a market cap of $5.20 billion, a PE ratio of 13.37, a price-to-earnings-growth ratio of 2.12 and a beta of 0.68.

Sonoco Products (NYSE:SON) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.02. The business had revenue of $1.62 billion during 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 business’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.38 earnings per share. Sell-side analysts expect that Sonoco Products will post 5.09 earnings per share for the current fiscal year.

Sonoco Products Announces Dividend

The business also recently declared 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. The ex-dividend date is Friday, November 8th. This represents a $2.08 annualized dividend and a dividend yield of 3.93%. Sonoco Products’s payout ratio is 52.53%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SON. Raymond James began coverage on Sonoco Products in a research note on Friday, July 19th. They set an “outperform” rating and a $62.00 price objective on the stock. Wells Fargo & Company cut Sonoco Products from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $54.00 to $52.00 in a report on Wednesday, August 21st. StockNews.com lowered shares of Sonoco Products from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 3rd. Finally, Citigroup boosted their target price on shares of Sonoco Products from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.00.

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.