Janney Montgomery Scott LLC Acquires 507 Shares of Sonoco Products (NYSE:SON)

Janney Montgomery Scott LLC raised its position in shares of Sonoco Products (NYSE:SON) by 2.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,333 shares of the industrial products company’s stock after purchasing an additional 507 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Sonoco Products were worth $1,002,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV raised its holdings in shares of 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 acquiring an additional 237 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its stake in shares of Sonoco Products by 13.9% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 2,373 shares of the industrial products company’s stock worth $130,000 after purchasing an additional 289 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Sonoco Products by 1.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,765 shares of the industrial products company’s stock worth $1,002,000 after purchasing an additional 298 shares during the last quarter. TD Asset Management Inc raised its stake in Sonoco Products by 2.0% in the second quarter. TD Asset Management Inc now owns 15,200 shares of the industrial products company’s stock valued at $771,000 after buying an additional 300 shares during the last quarter. Finally, Impact Partnership Wealth LLC raised its stake in Sonoco Products by 7.7% in the third quarter. Impact Partnership Wealth LLC now owns 4,506 shares of the industrial products company’s stock valued at $246,000 after buying an additional 323 shares during the last quarter. 77.69% of the stock is owned by hedge funds and other institutional investors.

Sonoco Products Stock Performance

Shares of SON opened at $50.07 on Friday. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.36 and a quick ratio of 1.91. The company has a market cap of $4.92 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 2.09 and a beta of 0.69. The firm has a 50-day moving average of $53.16 and a 200-day moving average of $54.17. Sonoco Products has a one year low of $48.22 and a one year high of $61.73.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results 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. The firm 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 19.92% and a net margin of 4.38%. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the firm posted $1.46 earnings per share. As a group, equities analysts forecast that Sonoco Products will post 5.1 earnings per share for the current year.

Sonoco Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend is Friday, November 8th. Sonoco Products’s payout ratio is currently 71.48%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SON. Citigroup raised their target price on Sonoco Products from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Wells Fargo & Company cut Sonoco Products from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $54.00 to $52.00 in a research note on Wednesday, August 21st. Raymond James started coverage on Sonoco Products in a research note on Friday, July 19th. They issued an “outperform” rating and a $62.00 price objective for the company. Finally, Robert W. Baird lowered their target price on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target 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.