Sonoco Products (NYSE:SON) Stake Raised by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. grew its holdings in shares of Sonoco Products (NYSE:SON) by 821.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,879 shares of the industrial products company’s stock after purchasing an additional 1,675 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Sonoco Products were worth $95,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Speece Thorson Capital Group Inc. boosted its holdings in Sonoco Products by 18.2% during the fourth quarter. Speece Thorson Capital Group Inc. now owns 266,036 shares of the industrial products company’s stock worth $14,863,000 after buying an additional 41,006 shares in the last quarter. Richardson Financial Services Inc. acquired a new position in shares of Sonoco Products in the 4th quarter worth $177,000. SageView Advisory Group LLC grew its holdings in shares of Sonoco Products by 17.8% in the 4th quarter. SageView Advisory Group LLC now owns 13,088 shares of the industrial products company’s stock worth $765,000 after acquiring an additional 1,977 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Sonoco Products during the fourth quarter worth $969,000. Finally, Kapitalo Investimentos Ltda lifted its holdings in shares of Sonoco Products by 93.9% during the fourth quarter. Kapitalo Investimentos Ltda now owns 9,123 shares of the industrial products company’s stock valued at $510,000 after purchasing an additional 4,417 shares during the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.

Sonoco Products Trading Up 1.1 %

Sonoco Products stock opened at $54.20 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.30 and a debt-to-equity ratio of 1.04. Sonoco Products has a 12 month low of $48.22 and a 12 month high of $61.73. The company’s fifty day simple moving average is $53.25 and its 200-day simple moving average is $55.03. The stock has a market cap of $5.33 billion, a P/E ratio of 14.57, a P/E/G ratio of 2.08 and a beta of 0.68.

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

Sonoco Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date of this dividend was Friday, August 9th. Sonoco Products’s dividend payout ratio is presently 55.91%.

Wall Street Analysts Forecast Growth

SON has been the topic of several recent analyst reports. Raymond James initiated coverage on Sonoco Products in a report on Friday, July 19th. They set an “outperform” rating and a $62.00 price objective on the stock. StockNews.com downgraded shares of Sonoco Products from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 3rd. Wells Fargo & Company cut shares of Sonoco Products from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $54.00 to $52.00 in a research report on Wednesday, August 21st. Finally, Citigroup increased their target price on Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.00.

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.