OneDigital Investment Advisors LLC Acquires New Stake in Sonoco Products (NYSE:SON)

OneDigital Investment Advisors LLC bought a new position in shares of Sonoco Products (NYSE:SON) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 3,842 shares of the industrial products company’s stock, valued at approximately $210,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Kennebec Savings Bank acquired a new stake in shares of Sonoco Products during the third quarter worth $27,000. Capital Performance Advisors LLP bought a new stake in Sonoco Products during the third quarter valued at $33,000. Abich Financial Wealth Management LLC acquired a new stake in Sonoco Products during the 2nd quarter worth about $50,000. Gradient Investments LLC bought a new position in shares of Sonoco Products in the 2nd quarter worth about $58,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Sonoco Products by 821.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,879 shares of the industrial products company’s stock valued at $95,000 after purchasing an additional 1,675 shares during the period. 77.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SON shares. Citigroup lifted 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 downgraded shares of Sonoco Products from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $54.00 to $52.00 in a research report on Wednesday, August 21st. Finally, Robert W. Baird cut their target price on shares of Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Sonoco Products presently has a consensus rating of “Hold” and a consensus target price of $58.00.

Sonoco Products Price Performance

Shares of NYSE:SON opened at $50.92 on Friday. The stock’s 50 day moving average is $52.72 and its 200-day moving average is $53.92. Sonoco Products has a twelve month low of $48.22 and a twelve month high of $61.73. The company has a quick ratio of 1.91, a current ratio of 2.36 and a debt-to-equity ratio of 1.74. The firm has a market capitalization of $5.00 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 2.06 and a beta of 0.69.

Sonoco Products (NYSE:SON) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.49 earnings per share 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 net margin of 4.38% and a return on equity of 19.92%. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the firm earned $1.46 earnings per share. Sell-side analysts forecast that Sonoco Products will post 5.1 EPS for the current fiscal year.

Sonoco Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.08%. Sonoco Products’s dividend payout ratio (DPR) is currently 71.48%.

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.