Capital Performance Advisors LLP Invests $33,000 in Sonoco Products (NYSE:SON)

Capital Performance Advisors LLP purchased a new stake in Sonoco Products (NYSE:SON) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 600 shares of the industrial products company’s stock, valued at approximately $33,000.

Several other institutional investors have also recently added to or reduced their stakes in SON. Pacer Advisors Inc. grew its stake in shares of Sonoco Products by 13,464.6% in the 2nd quarter. Pacer Advisors Inc. now owns 1,980,297 shares of the industrial products company’s stock valued at $100,441,000 after purchasing an additional 1,965,698 shares during the last quarter. Private Management Group Inc. purchased a new position in Sonoco Products in the 3rd quarter valued at $24,994,000. Dimensional Fund Advisors LP increased its stake in Sonoco Products by 11.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,631,259 shares of the industrial products company’s stock valued at $133,465,000 after buying an additional 261,062 shares during the period. AQR Capital Management LLC raised its position in Sonoco Products by 80.8% during the 2nd quarter. AQR Capital Management LLC now owns 555,575 shares of the industrial products company’s stock worth $28,179,000 after buying an additional 248,236 shares during the last quarter. Finally, Sound Income Strategies LLC acquired a new stake in shares of Sonoco Products in the 3rd quarter worth $9,935,000. Institutional investors and hedge funds own 77.69% of the company’s stock.

Sonoco Products Stock Performance

SON opened at $50.66 on Tuesday. Sonoco Products has a 1-year low of $48.22 and a 1-year high of $61.73. The stock has a market cap of $4.98 billion, a P/E ratio of 17.41, a P/E/G ratio of 2.08 and a beta of 0.69. The stock’s 50 day simple moving average is $53.52 and its 200 day simple moving average is $54.31. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.36 and a quick ratio of 1.91.

Sonoco Products (NYSE:SON) last posted its earnings results on Thursday, October 31st. The industrial products company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.04. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.72 billion. Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. Sonoco Products’s revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.46 earnings per share. As a group, equities analysts anticipate that Sonoco Products will post 5.1 EPS for the current fiscal year.

Sonoco Products Announces Dividend

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

Analyst Upgrades and Downgrades

SON has been the topic of a number of recent analyst reports. Citigroup boosted their price target on shares of Sonoco Products from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Robert W. Baird dropped their target price on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Raymond James started coverage on Sonoco Products in a research note on Friday, July 19th. They issued an “outperform” rating and a $62.00 price target on the stock. Finally, Wells Fargo & Company cut Sonoco Products from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $54.00 to $52.00 in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently 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.