TD Private Client Wealth LLC Has $176,000 Stock Position in Sonoco Products (NYSE:SON)

TD Private Client Wealth LLC raised its stake in Sonoco Products (NYSE:SON) by 33.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,213 shares of the industrial products company’s stock after buying an additional 804 shares during the period. TD Private Client Wealth LLC’s holdings in Sonoco Products were worth $176,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Kennebec Savings Bank acquired a new stake in Sonoco Products in the third quarter valued at approximately $27,000. Capital Performance Advisors LLP acquired a new stake in Sonoco Products in the third quarter valued at approximately $33,000. Abich Financial Wealth Management LLC acquired a new stake in Sonoco Products in the second quarter valued at approximately $50,000. Gradient Investments LLC acquired a new stake in Sonoco Products in the second quarter valued at approximately $58,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in 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. Institutional investors and hedge funds own 77.69% of the company’s stock.

Sonoco Products Price Performance

Shares of NYSE SON opened at $51.93 on Monday. Sonoco Products has a twelve month low of $48.22 and a twelve month high of $61.73. The firm has a fifty day simple moving average of $51.92 and a 200 day simple moving average of $52.99. The company has a market capitalization of $5.10 billion, a PE ratio of 17.85, a P/E/G ratio of 2.14 and a beta of 0.67. The company has a quick ratio of 1.91, a current ratio of 2.36 and a debt-to-equity ratio of 1.74.

Sonoco Products (NYSE:SON) last announced its earnings results on Thursday, October 31st. The industrial products company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. Sonoco Products had a net margin of 4.38% and a return on equity of 19.92%. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter last year, the firm earned $1.46 earnings per share. Sonoco Products’s quarterly revenue was down 2.0% on a year-over-year basis. On average, sell-side analysts forecast that Sonoco Products will post 5.09 EPS for the current year.

Sonoco Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 8th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date was Friday, November 8th. Sonoco Products’s dividend payout ratio is presently 71.48%.

Analyst Upgrades and Downgrades

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

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.