Sonoco Products (NYSE:SON) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lowered its stake in shares of Sonoco Products (NYSE:SON) by 4.5% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 9,847 shares of the industrial products company’s stock after selling 466 shares during the period. Federated Hermes Inc.’s holdings in Sonoco Products were worth $499,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Rise Advisors LLC acquired a new stake in Sonoco Products during the first quarter worth about $26,000. FinTrust Capital Advisors LLC increased its holdings in shares of 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 acquired a new position in shares of Sonoco Products in the 4th quarter valued at $30,000. TFO Wealth Partners LLC grew its position in Sonoco Products by 12,183.3% during the fourth quarter. TFO Wealth Partners LLC now owns 737 shares of the industrial products company’s stock valued at $41,000 after buying an additional 731 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new position in Sonoco Products in the first quarter valued at $50,000. Institutional investors and hedge funds own 77.69% of the company’s stock.

Sonoco Products Stock Performance

Shares of NYSE:SON opened at $54.29 on Tuesday. The business’s 50 day moving average price is $52.78 and its 200-day moving average price is $55.31. Sonoco Products has a 1 year low of $48.22 and a 1 year high of $61.73. 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 capitalization of $5.33 billion, a PE ratio of 13.71, a P/E/G ratio of 2.16 and a beta of 0.68.

Sonoco Products (NYSE:SON) last announced its quarterly earnings data 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. The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Sonoco Products had a net margin of 5.57% and a return on equity of 20.10%. Sonoco Products’s revenue was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.38 EPS. As a group, equities research analysts expect that Sonoco Products will post 5.09 earnings per share for the current fiscal year.

Sonoco Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend was Friday, August 9th. Sonoco Products’s dividend payout ratio (DPR) is presently 52.53%.

Wall Street Analysts Forecast Growth

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

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.