Sonoco Products (NYSE:SON) Holdings Trimmed by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its position in shares of Sonoco Products (NYSE:SON) by 38.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,344,531 shares of the industrial products company’s stock after selling 850,624 shares during the quarter. Victory Capital Management Inc. owned 1.37% of Sonoco Products worth $73,452,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of SON. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Sonoco Products by 2.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 8,862 shares of the industrial products company’s stock valued at $445,000 after purchasing an additional 237 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its position in shares of Sonoco Products by 13.9% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 2,373 shares of the industrial products company’s stock valued at $130,000 after purchasing an additional 289 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Sonoco Products by 1.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,765 shares of the industrial products company’s stock valued at $1,002,000 after purchasing an additional 298 shares during the period. TD Asset Management Inc boosted its position in shares of Sonoco Products by 2.0% in the 2nd quarter. TD Asset Management Inc now owns 15,200 shares of the industrial products company’s stock valued at $771,000 after purchasing an additional 300 shares during the period. Finally, Impact Partnership Wealth LLC boosted its position in shares of Sonoco Products by 7.7% in the 3rd quarter. Impact Partnership Wealth LLC now owns 4,506 shares of the industrial products company’s stock valued at $246,000 after purchasing an additional 323 shares during the period. Institutional investors own 77.69% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on SON. Citigroup increased their price target on Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company lowered Sonoco Products from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $54.00 to $52.00 in a research report on Wednesday, August 21st. Raymond James initiated coverage on Sonoco Products in a research report on Friday, July 19th. They issued an “outperform” rating and a $62.00 price target for the company. Finally, 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 research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $58.00.

Sonoco Products Trading Down 0.1 %

Shares of NYSE SON opened at $50.71 on Thursday. Sonoco Products has a one year low of $48.22 and a one year high of $61.73. The firm has a market capitalization of $4.98 billion, a PE ratio of 17.43, a PEG ratio of 2.09 and a beta of 0.69. The company has a current ratio of 2.36, a quick ratio of 1.91 and a debt-to-equity ratio of 1.74. The business has a 50-day moving average price of $53.35 and a two-hundred day moving average price of $54.25.

Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the company posted $1.46 EPS. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, analysts predict that Sonoco Products will post 5.1 earnings per share for the current fiscal year.

Sonoco Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.10%. Sonoco Products’s dividend payout ratio is 71.48%.

Sonoco Products 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.