Elevated Capital Advisors LLC Invests $552,000 in Sonoco Products (NYSE:SON)

Elevated Capital Advisors LLC acquired a new position in shares of Sonoco Products (NYSE:SON) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,881 shares of the industrial products company’s stock, valued at approximately $552,000.

A number of other large investors also recently added to or reduced their stakes in SON. International Assets Investment Management LLC raised its position in shares of Sonoco Products by 5,486.7% during the 4th quarter. International Assets Investment Management LLC now owns 9,274 shares of the industrial products company’s stock valued at $518,000 after acquiring an additional 9,108 shares during the last quarter. CWM LLC increased its stake in shares of Sonoco Products by 751.5% in the 4th quarter. CWM LLC now owns 1,967 shares of the industrial products company’s stock valued at $110,000 after acquiring an additional 1,736 shares during the last quarter. Natixis Advisors L.P. raised its position in shares of Sonoco Products by 23.4% in the 4th quarter. Natixis Advisors L.P. now owns 99,192 shares of the industrial products company’s stock valued at $5,541,000 after acquiring an additional 18,818 shares during the period. Private Advisor Group LLC boosted its stake in Sonoco Products by 165.0% during the 4th quarter. Private Advisor Group LLC now owns 5,656 shares of the industrial products company’s stock worth $316,000 after acquiring an additional 14,364 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Sonoco Products by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 662,156 shares of the industrial products company’s stock valued at $36,995,000 after purchasing an additional 20,153 shares during the period. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SON shares. Wells Fargo & Company cut shares of 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. StockNews.com downgraded Sonoco Products from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 3rd. Raymond James assumed 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. Finally, Citigroup lowered their target price on Sonoco Products from $64.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, July 8th. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $58.00.

Sonoco Products Stock Performance

Shares of Sonoco Products stock opened at $56.57 on Tuesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.30 and a quick ratio of 0.85. The firm has a market cap of $5.56 billion, a price-to-earnings ratio of 14.29, a price-to-earnings-growth ratio of 2.20 and a beta of 0.68. Sonoco Products has a one year low of $53.00 and a one year high of $56.77. The stock’s 50-day moving average is $51.34 and its 200-day moving average is $55.51.

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

Sonoco Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.68%. The ex-dividend date is Friday, August 9th. Sonoco Products’s payout ratio is 52.53%.

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.