2,027 Shares in Sonoco Products (NYSE:SON) Bought by Quantbot Technologies LP

Quantbot Technologies LP bought a new stake in Sonoco Products (NYSE:SON) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,027 shares of the industrial products company’s stock, valued at approximately $111,000.

Several other large investors also recently modified their holdings of the business. Earnest Partners LLC raised its holdings in shares of Sonoco Products by 2.5% during the second quarter. Earnest Partners LLC now owns 2,645,744 shares of the industrial products company’s stock worth $134,192,000 after acquiring an additional 64,915 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Sonoco Products by 11.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,631,259 shares of the industrial products company’s stock valued at $133,465,000 after purchasing an additional 261,062 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Sonoco Products by 2.4% in the second quarter. Victory Capital Management Inc. now owns 2,195,155 shares of the industrial products company’s stock valued at $111,338,000 after purchasing an additional 50,577 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Sonoco Products by 13,464.6% during the second quarter. Pacer Advisors Inc. now owns 1,980,297 shares of the industrial products company’s stock worth $100,441,000 after buying an additional 1,965,698 shares during the period. Finally, Sei Investments Co. grew its holdings in shares of Sonoco Products by 9.3% during the second quarter. Sei Investments Co. now owns 1,490,580 shares of the industrial products company’s stock worth $75,602,000 after buying an additional 126,643 shares in the last quarter. 77.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SON. Wells Fargo & Company downgraded Sonoco Products from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $54.00 to $52.00 in a research report on Wednesday, August 21st. Robert W. Baird decreased their target price on shares of Sonoco Products from $58.00 to $55.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Citigroup boosted their price target on shares of Sonoco Products from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Finally, Truist Financial initiated coverage on Sonoco Products in a report on Tuesday, November 26th. They issued a “buy” rating and a $63.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $59.00.

Sonoco Products Stock Performance

Shares of SON stock opened at $51.26 on Friday. The company has a fifty day moving average price of $52.12 and a two-hundred day moving average price of $53.39. Sonoco Products has a one year low of $48.22 and a one year high of $61.73. The stock has a market cap of $5.04 billion, a P/E ratio of 17.62, a P/E/G ratio of 2.15 and a beta of 0.67. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.36 and a quick ratio of 1.91.

Sonoco Products (NYSE:SON) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. Sonoco Products’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the company posted $1.46 earnings per share. As a group, equities analysts predict that Sonoco Products will post 5.09 EPS for the current year.

Sonoco Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.06%. The ex-dividend date is Friday, November 8th. Sonoco Products’s dividend payout ratio is 71.48%.

About Sonoco Products

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.