8,773 Shares in Sonoco Products (NYSE:SON) Purchased by XTX Topco Ltd

XTX Topco Ltd bought a new stake in shares of Sonoco Products (NYSE:SON) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 8,773 shares of the industrial products company’s stock, valued at approximately $445,000.

Other large investors have also recently made changes to their positions in the company. Rise Advisors LLC bought a new position in Sonoco Products during the 1st quarter valued at approximately $26,000. FinTrust Capital Advisors LLC increased its stake in Sonoco Products by 78.8% during the 1st quarter. FinTrust Capital Advisors LLC now owns 490 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 216 shares in the last quarter. Burkett Financial Services LLC bought a new stake in shares of Sonoco Products during the fourth quarter valued at approximately $30,000. TFO Wealth Partners LLC increased its holdings in shares of Sonoco Products by 12,183.3% in the 4th quarter. TFO Wealth Partners LLC now owns 737 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 731 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in shares of Sonoco Products by 154.6% in the fourth quarter. Parallel Advisors LLC now owns 881 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 535 shares during the last quarter. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on SON. Raymond James began coverage on Sonoco Products in a report on Friday, July 19th. They issued an “outperform” rating and a $62.00 price objective for the company. StockNews.com downgraded shares of Sonoco Products from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 3rd. Citigroup dropped their target price on Sonoco Products from $64.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Finally, Wells Fargo & Company lowered shares of Sonoco Products from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $54.00 to $52.00 in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $58.00.

Sonoco Products Price Performance

Shares of Sonoco Products stock opened at $54.25 on Wednesday. The stock has a market cap of $5.33 billion, a P/E ratio of 13.70, a P/E/G ratio of 2.16 and a beta of 0.68. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.85 and a current ratio of 1.30. The stock’s fifty day moving average is $52.84 and its 200 day moving average is $55.29. 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 data on Wednesday, July 31st. The industrial products company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.26 by $0.02. Sonoco Products had a net margin of 5.57% and a return on equity of 20.10%. The firm had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same period last year, the firm earned $1.38 EPS. The company’s revenue was down 4.8% on a year-over-year basis. Sell-side analysts anticipate that Sonoco Products will post 5.09 earnings per share for the current year.

Sonoco Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 3.83%. Sonoco Products’s dividend payout ratio is presently 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.