Sei Investments Co. Has $75.60 Million Position in Sonoco Products (NYSE:SON)

Sei Investments Co. boosted its holdings in shares of Sonoco Products (NYSE:SON) by 9.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 1,490,580 shares of the industrial products company’s stock after acquiring an additional 126,643 shares during the period. Sei Investments Co. owned 1.52% of Sonoco Products worth $75,602,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its stake in shares of Sonoco Products by 11.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,631,259 shares of the industrial products company’s stock worth $133,465,000 after purchasing an additional 261,062 shares during the period. Earnest Partners LLC grew its position in shares of Sonoco Products by 5.3% during the 1st quarter. Earnest Partners LLC now owns 2,580,829 shares of the industrial products company’s stock worth $149,275,000 after buying an additional 131,012 shares during the period. Victory Capital Management Inc. increased its stake in shares of Sonoco Products by 2.4% in the 2nd quarter. Victory Capital Management Inc. now owns 2,195,155 shares of the industrial products company’s stock valued at $111,338,000 after acquiring an additional 50,577 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Sonoco Products by 13,464.6% in the 2nd quarter. Pacer Advisors Inc. now owns 1,980,297 shares of the industrial products company’s stock valued at $100,441,000 after acquiring an additional 1,965,698 shares during the period. Finally, First Trust Advisors LP grew its holdings in Sonoco Products by 2.4% during the fourth quarter. First Trust Advisors LP now owns 1,654,913 shares of the industrial products company’s stock valued at $92,460,000 after purchasing an additional 38,437 shares during the period. Institutional investors own 77.69% of the company’s stock.

Analyst Ratings Changes

SON has been the topic of several analyst reports. Wells Fargo & Company lowered shares of 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 report on Wednesday, August 21st. Citigroup dropped their price objective on Sonoco Products from $64.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Raymond James began coverage on Sonoco Products in a research note on Friday, July 19th. They issued an “outperform” rating and a $62.00 target price for the company. Finally, StockNews.com lowered Sonoco Products from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 3rd. 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.com, the company currently has an average rating of “Moderate Buy” and an average price target of $58.00.

Sonoco Products Stock Down 0.8 %

Shares of SON stock opened at $54.54 on Friday. Sonoco Products has a 12-month low of $48.22 and a 12-month high of $61.73. The company has a quick ratio of 0.85, a current ratio of 1.30 and a debt-to-equity ratio of 1.04. The firm has a fifty day moving average of $52.70 and a 200-day moving average of $55.34. The company has a market capitalization of $5.36 billion, a price-to-earnings ratio of 13.77, a P/E/G ratio of 2.16 and a beta of 0.68.

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

Sonoco Products Announces Dividend

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

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.