J.W. Cole Advisors Inc. Has $399,000 Stock Holdings in Sonoco Products (NYSE:SON)

J.W. Cole Advisors Inc. decreased its position in Sonoco Products (NYSE:SON) by 29.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,869 shares of the industrial products company’s stock after selling 3,340 shares during the period. J.W. Cole Advisors Inc.’s holdings in Sonoco Products were worth $399,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew 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 worth $518,000 after buying an additional 9,108 shares during the period. Private Advisor Group LLC grew its holdings 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 period. Charles Schwab Investment Management Inc. raised its position in shares of Sonoco Products by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 662,156 shares of the industrial products company’s stock valued at $36,995,000 after acquiring an additional 20,153 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of Sonoco Products during the 4th quarter valued at $71,000. Finally, BNP Paribas Financial Markets lifted its stake in shares of Sonoco Products by 410.7% in the 4th quarter. BNP Paribas Financial Markets now owns 77,944 shares of the industrial products company’s stock valued at $4,355,000 after purchasing an additional 62,683 shares during the period. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Sonoco Products Stock Up 0.1 %

Shares of Sonoco Products stock opened at $55.68 on Wednesday. The company has a market capitalization of $5.47 billion, a P/E ratio of 14.06, a price-to-earnings-growth ratio of 2.11 and a beta of 0.68. 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 business has a 50-day moving average of $52.25 and a two-hundred day moving average of $55.38. Sonoco Products has a 1 year low of $55.13 and a 1 year high of $56.07.

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, 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 company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the prior year, the company earned $1.38 earnings per share. The business’s quarterly revenue was down 4.8% compared to the same quarter last year. As a group, equities analysts predict that Sonoco Products will post 5.09 EPS for the current year.

Sonoco Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 3.74%. Sonoco Products’s dividend payout ratio is currently 52.53%.

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.