Barclays PLC Has $5.18 Million Stock Holdings in Sonoco Products (NYSE:SON)

Barclays PLC boosted its holdings in shares of Sonoco Products (NYSE:SON) by 29.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 94,885 shares of the industrial products company’s stock after buying an additional 21,799 shares during the period. Barclays PLC owned approximately 0.10% of Sonoco Products worth $5,184,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Raymond James & Associates boosted its stake in shares of Sonoco Products by 5.4% during the 2nd quarter. Raymond James & Associates now owns 102,935 shares of the industrial products company’s stock valued at $5,221,000 after buying an additional 5,301 shares during the period. Access Investment Management LLC grew its stake in Sonoco Products by 313.5% in the second quarter. Access Investment Management LLC now owns 101,840 shares of the industrial products company’s stock valued at $5,165,000 after purchasing an additional 77,210 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Sonoco Products by 1.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,765 shares of the industrial products company’s stock worth $1,002,000 after purchasing an additional 298 shares during the last quarter. Argyle Capital Management Inc. increased its position in Sonoco Products by 12.7% in the 2nd quarter. Argyle Capital Management Inc. now owns 31,133 shares of the industrial products company’s stock worth $1,579,000 after purchasing an additional 3,500 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its stake in shares of Sonoco Products by 49.0% during the 2nd quarter. Panagora Asset Management Inc. now owns 85,032 shares of the industrial products company’s stock worth $4,313,000 after purchasing an additional 27,951 shares in the last quarter. 77.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on SON. Truist Financial began coverage on Sonoco Products in a report on Tuesday, November 26th. They issued a “buy” rating and a $63.00 price objective on the stock. Robert W. Baird dropped their price target on shares of Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Finally, Citigroup raised their price target on shares of Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.00.

Sonoco Products Trading Down 1.5 %

Shares of SON stock opened at $49.42 on Friday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.91 and a current ratio of 2.36. The firm has a fifty day moving average of $51.68 and a 200-day moving average of $52.81. Sonoco Products has a 52-week low of $48.22 and a 52-week high of $61.73. The stock has a market cap of $4.86 billion, a price-to-earnings ratio of 16.98, a P/E/G ratio of 2.14 and a beta of 0.67.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. Sonoco Products had a net margin of 4.38% and a return on equity of 19.92%. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the company earned $1.46 earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, equities research analysts forecast that Sonoco Products will post 5.09 earnings per share for the current fiscal year.

Sonoco Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend was Friday, November 8th. Sonoco Products’s payout ratio is 71.48%.

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.