Wellington Management Group LLP Sells 621 Shares of Sonoco Products (NYSE:SON)

Wellington Management Group LLP decreased its position in Sonoco Products (NYSE:SON) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,477 shares of the industrial products company’s stock after selling 621 shares during the quarter. Wellington Management Group LLP’s holdings in Sonoco Products were worth $2,206,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bruce G. Allen Investments LLC acquired a new stake in shares of Sonoco Products in the 4th quarter valued at approximately $28,000. Burkett Financial Services LLC bought a new position in shares of Sonoco Products during the 4th quarter worth approximately $30,000. TFO Wealth Partners LLC boosted its holdings in Sonoco Products by 12,183.3% in the fourth quarter. TFO Wealth Partners LLC now owns 737 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 731 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Sonoco Products by 154.6% during the fourth quarter. Parallel Advisors LLC now owns 881 shares of the industrial products company’s stock valued at $49,000 after buying an additional 535 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its position in Sonoco Products by 88.6% in the 4th quarter. Quadrant Capital Group LLC now owns 913 shares of the industrial products company’s stock valued at $51,000 after buying an additional 429 shares during the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.

Sonoco Products Trading Down 0.8 %

Shares of NYSE:SON opened at $50.31 on Tuesday. The stock’s fifty day moving average price is $57.89 and its 200-day moving average price is $57.25. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.31 and a quick ratio of 0.83. The company has a market cap of $4.94 billion, a P/E ratio of 12.70, a PEG ratio of 1.97 and a beta of 0.72. Sonoco Products has a 1 year low of $49.98 and a 1 year high of $61.73.

Sonoco Products (NYSE:SON) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.07. Sonoco Products had a return on equity of 20.79% and a net margin of 5.86%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the previous year, the company posted $1.40 EPS. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. Sell-side analysts expect that Sonoco Products will post 5.1 earnings per share for the current year.

Sonoco Products Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were paid a dividend of $0.52 per share. The ex-dividend date was Thursday, May 9th. This is an increase from Sonoco Products’s previous quarterly dividend of $0.51. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.13%. Sonoco Products’s payout ratio is 52.53%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SON. StockNews.com raised Sonoco Products from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 25th. Citigroup decreased their target price on shares of Sonoco Products from $66.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, April 4th. Finally, Wells Fargo & Company boosted their price target on Sonoco Products from $56.00 to $57.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Sonoco Products has a consensus rating of “Moderate Buy” and a consensus target price of $63.33.

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.