Xponance Inc. Boosts Stock Holdings in Sonoco Products (NYSE:SON)

Xponance Inc. grew its position in Sonoco Products (NYSE:SON) by 6.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,229 shares of the industrial products company’s stock after acquiring an additional 635 shares during the quarter. Xponance Inc.’s holdings in Sonoco Products were worth $549,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Principal Securities Inc. lifted its holdings in Sonoco Products by 35.0% in the 4th quarter. Principal Securities Inc. now owns 1,355 shares of the industrial products company’s stock valued at $66,000 after purchasing an additional 351 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Sonoco Products in the third quarter worth about $71,000. Albion Financial Group UT purchased a new position in shares of Sonoco Products in the fourth quarter worth about $84,000. SRS Capital Advisors Inc. boosted its position in Sonoco Products by 311.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,713 shares of the industrial products company’s stock worth $84,000 after acquiring an additional 1,297 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Sonoco Products during the 3rd quarter valued at about $111,000. 77.69% of the stock is owned by institutional investors and hedge funds.

Sonoco Products Price Performance

NYSE:SON opened at $46.40 on Wednesday. Sonoco Products has a 52 week low of $44.36 and a 52 week high of $61.73. The stock’s fifty day moving average is $47.35 and its two-hundred day moving average is $50.14. The company has a market capitalization of $4.58 billion, a P/E ratio of 28.12, a P/E/G ratio of 0.76 and a beta of 0.61. The company has a quick ratio of 1.91, a current ratio of 0.79 and a debt-to-equity ratio of 2.18.

Sonoco Products (NYSE:SON) last issued its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.01). The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Sonoco Products had a net margin of 2.60% and a return on equity of 20.81%. Equities analysts expect that Sonoco Products will post 6.1 EPS for the current year.

Sonoco Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Wednesday, February 26th were issued a $0.52 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $2.08 annualized dividend and a yield of 4.48%. Sonoco Products’s dividend payout ratio (DPR) is presently 126.06%.

Insider Activity at Sonoco Products

In other news, CEO R. Howard Coker purchased 20,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $46.10 per share, for a total transaction of $922,000.00. Following the completion of the transaction, the chief executive officer now directly owns 482,365 shares in the company, valued at approximately $22,237,026.50. This represents a 4.33 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John R. Haley acquired 3,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average price of $46.76 per share, for a total transaction of $140,280.00. Following the acquisition, the director now directly owns 18,558 shares in the company, valued at approximately $867,772.08. This trade represents a 19.28 % increase in their position. The disclosure for this purchase can be found here. 0.51% of the stock is owned by insiders.

Analysts Set New Price Targets

SON has been the topic of a number of research reports. Citigroup decreased their target price on shares of Sonoco Products from $59.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company reduced their price objective on Sonoco Products from $50.00 to $48.00 and set an “underweight” rating on the stock in a research report on Monday, February 24th. StockNews.com raised Sonoco Products from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th. Bank of America raised their target price on Sonoco Products from $66.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Truist Financial lowered their price target on shares of Sonoco Products from $68.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Sonoco Products has an average rating of “Hold” and a consensus target price of $58.50.

About Sonoco Products

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.