Creative Planning Has $625,000 Position in Sonoco Products (NYSE:SON)

Creative Planning boosted its holdings in shares of Sonoco Products (NYSE:SON) by 4.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,435 shares of the industrial products company’s stock after buying an additional 473 shares during the period. Creative Planning’s holdings in Sonoco Products were worth $625,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SON. Pacer Advisors Inc. raised its holdings 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 buying an additional 1,965,698 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings 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 valued at $133,465,000 after buying an additional 261,062 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Sonoco Products by 80.8% in the second 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 during the last quarter. Sound Income Strategies LLC bought a new position in shares of Sonoco Products in the third quarter valued at about $9,935,000. Finally, Kingsview Wealth Management LLC bought a new position in shares of Sonoco Products in the first quarter valued at about $8,507,000. Institutional investors and hedge funds own 77.69% of the company’s stock.

Sonoco Products Price Performance

Shares of NYSE SON opened at $50.56 on Tuesday. The stock has a market capitalization of $4.97 billion, a PE ratio of 17.37, a P/E/G ratio of 2.20 and a beta of 0.69. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.30 and a quick ratio of 0.85. The business has a fifty day moving average price of $54.03 and a two-hundred day moving average price of $54.55. Sonoco Products has a fifty-two week low of $48.22 and a fifty-two week high of $61.73.

Sonoco Products (NYSE:SON) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.72 billion. Sonoco Products had a return on equity of 20.03% and a net margin of 4.38%. Sonoco Products’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.46 EPS. As a group, equities analysts predict that Sonoco Products will post 5 earnings per share for the current fiscal year.

Sonoco Products Announces Dividend

The company also recently declared 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 4.11%. Sonoco Products’s payout ratio is currently 71.48%.

Analyst Ratings Changes

Several analysts have weighed in on the company. Robert W. Baird dropped their price objective on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating for the company in a report on Monday. Wells Fargo & Company cut Sonoco Products from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $54.00 to $52.00 in a report on Wednesday, August 21st. Raymond James assumed coverage on Sonoco Products in a report on Friday, July 19th. They set an “outperform” rating and a $62.00 price objective for the company. Finally, Citigroup boosted their price objective on Sonoco Products from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $58.00.

Sonoco Products Company 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.