Creative Planning Purchases 473 Shares of Sonoco Products (NYSE:SON)

Creative Planning increased its stake in Sonoco Products (NYSE:SON) by 4.3% in the third quarter, HoldingsChannel reports. The fund owned 11,435 shares of the industrial products company’s stock after purchasing an additional 473 shares during the period. Creative Planning’s holdings in Sonoco Products were worth $625,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of SON. Richardson Financial Services Inc. grew its holdings in shares of Sonoco Products by 5.7% during the 1st quarter. Richardson Financial Services Inc. now owns 3,345 shares of the industrial products company’s stock worth $193,000 after acquiring an additional 180 shares during the period. Mercer Global Advisors Inc. ADV grew its holdings in shares of Sonoco Products by 2.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 8,862 shares of the industrial products company’s stock worth $445,000 after acquiring an additional 237 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Sonoco Products by 1.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,765 shares of the industrial products company’s stock worth $1,002,000 after acquiring an additional 298 shares during the period. TD Asset Management Inc grew its holdings in shares of Sonoco Products by 2.0% during the 2nd quarter. TD Asset Management Inc now owns 15,200 shares of the industrial products company’s stock worth $771,000 after acquiring an additional 300 shares during the period. Finally, International Private Wealth Advisors LLC grew its holdings in shares of Sonoco Products by 10.6% during the 2nd quarter. International Private Wealth Advisors LLC now owns 4,807 shares of the industrial products company’s stock worth $244,000 after acquiring an additional 462 shares during the period. Institutional investors own 77.69% of the company’s stock.

Sonoco Products Price Performance

Shares of SON opened at $50.56 on Tuesday. The business’s 50-day moving average is $54.03 and its two-hundred day moving average is $54.55. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.85 and a current ratio of 1.30. Sonoco Products has a fifty-two week low of $48.22 and a fifty-two week high of $61.73. The company has a market capitalization of $4.97 billion, a P/E ratio of 17.37, a P/E/G ratio of 2.20 and a beta of 0.69.

Sonoco Products (NYSE:SON) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.04. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.72 billion. Sonoco Products had a net margin of 4.38% and a return on equity of 20.03%. Sonoco Products’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.46 EPS. Research analysts predict that Sonoco Products will post 5 earnings per share for the current year.

Sonoco Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be issued a $0.52 dividend. The ex-dividend date is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.11%. Sonoco Products’s payout ratio is 71.48%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SON shares. Wells Fargo & Company downgraded Sonoco Products from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $54.00 to $52.00 in a research note on Wednesday, August 21st. Robert W. Baird cut their price target on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a research note on Monday. Citigroup upped their price target on Sonoco Products from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Finally, Raymond James assumed coverage on Sonoco Products in a research report on Friday, July 19th. They issued an “outperform” rating and a $62.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $58.00.

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.