nVerses Capital LLC Takes Position in Sonoco Products (NYSE:SON)

nVerses Capital LLC purchased a new position in shares of Sonoco Products (NYSE:SON) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 3,800 shares of the industrial products company’s stock, valued at approximately $193,000.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its holdings in shares of Sonoco Products by 5,486.7% during the fourth quarter. International Assets Investment Management LLC now owns 9,274 shares of the industrial products company’s stock worth $518,000 after buying an additional 9,108 shares in the last quarter. CWM LLC raised its stake in Sonoco Products by 751.5% in the 4th quarter. CWM LLC now owns 1,967 shares of the industrial products company’s stock worth $110,000 after purchasing an additional 1,736 shares in the last quarter. Natixis Advisors L.P. raised its stake in Sonoco Products by 23.4% in the 4th quarter. Natixis Advisors L.P. now owns 99,192 shares of the industrial products company’s stock worth $5,541,000 after purchasing an additional 18,818 shares in the last quarter. Gallacher Capital Management LLC boosted its holdings in Sonoco Products by 79.9% in the 4th quarter. Gallacher Capital Management LLC now owns 8,207 shares of the industrial products company’s stock valued at $459,000 after purchasing an additional 3,644 shares during the period. Finally, Private Advisor Group LLC grew its position in shares of Sonoco Products by 165.0% during the 4th quarter. Private Advisor Group LLC now owns 5,656 shares of the industrial products company’s stock worth $316,000 after purchasing an additional 14,364 shares in the last quarter. 77.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SON has been the subject of a number of analyst reports. 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 report on Wednesday, August 21st. StockNews.com cut Sonoco Products from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 3rd. Citigroup reduced their target price on Sonoco Products from $64.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Finally, Raymond James started coverage on Sonoco Products in a research report on Friday, July 19th. They issued an “outperform” rating and a $62.00 price target on the stock. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $58.00.

Sonoco Products Stock Performance

Shares of NYSE:SON opened at $56.57 on Monday. Sonoco Products has a 1 year low of $53.00 and a 1 year high of $56.77. The stock has a market capitalization of $5.56 billion, a price-to-earnings ratio of 14.29, a price-to-earnings-growth ratio of 2.20 and a beta of 0.68. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.30 and a quick ratio of 0.85. The company’s 50 day simple moving average is $51.28 and its 200 day simple moving average is $55.51.

Sonoco Products (NYSE:SON) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $1.28 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter last year, the business posted $1.38 EPS. The company’s revenue was down 4.8% compared to the same quarter last year. As a group, research analysts predict that Sonoco Products will post 5.09 EPS for the current fiscal year.

Sonoco Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.68%. Sonoco Products’s dividend payout ratio (DPR) is currently 52.53%.

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.