Public Employees Retirement System of Ohio Has $1.94 Million Stock Holdings in Sonoco Products (NYSE:SON)

Public Employees Retirement System of Ohio trimmed its stake in Sonoco Products (NYSE:SON) by 4.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,565 shares of the industrial products company’s stock after selling 1,772 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Sonoco Products were worth $1,943,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Kennebec Savings Bank bought a new position in shares of Sonoco Products in the third quarter valued at $27,000. Capital Performance Advisors LLP bought a new position in shares of Sonoco Products in the third quarter valued at $33,000. Abich Financial Wealth Management LLC bought a new position in shares of Sonoco Products in the second quarter valued at $50,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Sonoco Products by 821.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,879 shares of the industrial products company’s stock valued at $95,000 after buying an additional 1,675 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Sonoco Products in the third quarter valued at $111,000. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Sonoco Products Trading Down 2.8 %

Shares of SON opened at $49.06 on Thursday. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 2.14 and a beta of 0.67. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.91 and a current ratio of 2.36. Sonoco Products has a fifty-two week low of $48.22 and a fifty-two week high of $61.73. The firm has a 50 day moving average price of $51.75 and a 200-day moving average price of $52.83.

Sonoco Products (NYSE:SON) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.04. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.72 billion. Sonoco Products had a net margin of 4.38% and a return on equity of 19.92%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.46 EPS. As a group, equities research analysts forecast that Sonoco Products will post 5.09 earnings per share for the current year.

Sonoco Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend was Friday, November 8th. Sonoco Products’s dividend payout ratio is presently 71.48%.

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.