Nisa Investment Advisors LLC Has $389,000 Stock Position in Sonoco Products (NYSE:SON)

Nisa Investment Advisors LLC cut its position in Sonoco Products (NYSE:SON) by 25.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,120 shares of the industrial products company’s stock after selling 2,395 shares during the period. Nisa Investment Advisors LLC’s holdings in Sonoco Products were worth $389,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new stake in Sonoco Products in the first quarter valued at approximately $50,000. Abich Financial Wealth Management LLC acquired a new stake in Sonoco Products in the 2nd quarter valued at $50,000. Gradient Investments LLC bought a new stake in Sonoco Products during the 2nd quarter valued at $58,000. Northwestern Mutual Wealth Management Co. raised its holdings in Sonoco Products by 821.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,879 shares of the industrial products company’s stock worth $95,000 after buying an additional 1,675 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new position in shares of Sonoco Products in the first quarter valued at $122,000. 77.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SON shares. Raymond James assumed coverage on shares of Sonoco Products in a research report on Friday, July 19th. They set an “outperform” rating and a $62.00 target price for the company. Robert W. Baird decreased their price objective on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating for the company in a report on Monday. Citigroup increased their price objective on Sonoco Products from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company cut Sonoco Products from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $54.00 to $52.00 in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Sonoco Products currently has a consensus rating of “Hold” and an average price target of $58.00.

Sonoco Products Trading Down 0.6 %

Shares of SON stock opened at $50.25 on Wednesday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.91 and a current ratio of 2.36. The company has a market capitalization of $4.94 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 2.11 and a beta of 0.69. Sonoco Products has a 52-week low of $48.22 and a 52-week high of $61.73. The company has a 50-day simple moving average of $53.98 and a two-hundred day simple moving average of $54.51.

Sonoco Products (NYSE:SON) last released its earnings results on Thursday, October 31st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.04. Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period in the prior year, the company posted $1.46 earnings per share. Sonoco Products’s quarterly revenue was down 2.0% on a year-over-year basis. Research analysts anticipate that Sonoco Products will post 5.08 EPS for the current fiscal year.

Sonoco Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date of this dividend is Friday, November 8th. Sonoco Products’s dividend payout ratio (DPR) is currently 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.