Quilter Plc Decreases Stock Position in Sonoco Products (NYSE:SON)

Quilter Plc trimmed its position in shares of Sonoco Products (NYSE:SON) by 0.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 289,358 shares of the industrial products company’s stock after selling 529 shares during the quarter. Quilter Plc owned approximately 0.29% of Sonoco Products worth $14,676,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Earnest Partners LLC grew its holdings in shares of Sonoco Products by 5.3% during the first quarter. Earnest Partners LLC now owns 2,580,829 shares of the industrial products company’s stock worth $149,275,000 after buying an additional 131,012 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Sonoco Products by 5.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,300,033 shares of the industrial products company’s stock valued at $128,506,000 after acquiring an additional 109,983 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Sonoco Products by 2.4% in the 2nd quarter. Victory Capital Management Inc. now owns 2,195,155 shares of the industrial products company’s stock valued at $111,338,000 after acquiring an additional 50,577 shares during the last quarter. First Trust Advisors LP lifted its stake in Sonoco Products by 2.4% in the 4th quarter. First Trust Advisors LP now owns 1,654,913 shares of the industrial products company’s stock worth $92,460,000 after purchasing an additional 38,437 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Sonoco Products by 6.9% during the 1st quarter. Sei Investments Co. now owns 1,363,937 shares of the industrial products company’s stock worth $78,890,000 after purchasing an additional 88,407 shares during the last quarter. 77.69% of the stock is owned by institutional investors and hedge funds.

Sonoco Products Price Performance

SON stock opened at $55.07 on Monday. Sonoco Products has a 52-week low of $52.76 and a 52-week high of $55.57. The business has a fifty day moving average of $52.12 and a two-hundred day moving average of $55.39. The stock has a market cap of $5.41 billion, a price-to-earnings ratio of 13.91, a price-to-earnings-growth ratio of 2.11 and a beta of 0.68. The company has a quick ratio of 0.85, a current ratio of 1.30 and a debt-to-equity ratio of 1.04.

Sonoco Products (NYSE:SON) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.02. Sonoco Products had a return on equity of 20.10% and a net margin of 5.57%. The firm had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same period last year, the company earned $1.38 EPS. The company’s quarterly revenue was down 4.8% on a year-over-year basis. As a group, research analysts anticipate that Sonoco Products will post 5.09 earnings per share for the current year.

Sonoco Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors 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 dividend on an annualized basis and a dividend yield of 3.78%. Sonoco Products’s payout ratio is currently 52.53%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Wells Fargo & Company downgraded 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 report on Wednesday, August 21st. Citigroup reduced their price target on Sonoco Products from $64.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, July 8th. StockNews.com lowered shares of Sonoco Products from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 3rd. Finally, Raymond James assumed coverage on shares of Sonoco Products in a research note on Friday, July 19th. They set an “outperform” rating and a $62.00 target price on the stock. One analyst has rated the stock with a sell rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus 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.