Wealth Enhancement Advisory Services LLC Has $3.71 Million Stake in Sonoco Products (NYSE:SON)

Wealth Enhancement Advisory Services LLC cut its stake in shares of Sonoco Products (NYSE:SON) by 0.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 64,130 shares of the industrial products company’s stock after selling 477 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.07% of Sonoco Products worth $3,709,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in SON. GoalVest Advisory LLC lifted its stake in shares of Sonoco Products by 7.2% in the first quarter. GoalVest Advisory LLC now owns 19,901 shares of the industrial products company’s stock worth $1,151,000 after acquiring an additional 1,336 shares during the period. Global Assets Advisory LLC acquired a new position in shares of Sonoco Products in the 1st quarter worth approximately $2,372,000. Lloyd Advisory Services LLC. bought a new stake in shares of Sonoco Products in the 1st quarter valued at $752,000. Salem Investment Counselors Inc. increased its position in shares of Sonoco Products by 1.7% during the first quarter. Salem Investment Counselors Inc. now owns 94,713 shares of the industrial products company’s stock worth $5,478,000 after buying an additional 1,567 shares during the period. Finally, Wedmont Private Capital raised its stake in Sonoco Products by 2.8% during the first quarter. Wedmont Private Capital now owns 6,541 shares of the industrial products company’s stock worth $382,000 after buying an additional 178 shares during the last quarter. Institutional investors own 77.69% of the company’s stock.

Sonoco Products Price Performance

SON stock opened at $49.31 on Wednesday. Sonoco Products has a 1 year low of $49.10 and a 1 year high of $61.73. The stock has a market capitalization of $4.85 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 1.97 and a beta of 0.69. The company’s 50-day moving average is $57.75 and its 200-day moving average is $57.21. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.31 and a quick ratio of 0.83.

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

Sonoco Products Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were issued a dividend of $0.52 per share. This is an increase from Sonoco Products’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.08 annualized dividend and a yield of 4.22%. Sonoco Products’s dividend payout ratio is presently 52.53%.

Analyst Ratings Changes

SON has been the topic of a number of research analyst reports. Wells Fargo & Company upped their price target on shares of Sonoco Products from $56.00 to $57.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. StockNews.com cut Sonoco Products from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Finally, Citigroup dropped their price target on Sonoco Products from $66.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Sonoco Products has an average rating of “Moderate Buy” and an average target price of $63.33.

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.