Xponance Inc. Has $536,000 Holdings in Sonoco Products (NYSE:SON)

Xponance Inc. trimmed its holdings in shares of Sonoco Products (NYSE:SON) by 9.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,559 shares of the industrial products company’s stock after selling 1,108 shares during the quarter. Xponance Inc.’s holdings in Sonoco Products were worth $536,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SON. Wedmont Private Capital increased its holdings in shares of Sonoco Products by 2.8% during the 1st quarter. Wedmont Private Capital now owns 6,541 shares of the industrial products company’s stock valued at $382,000 after acquiring an additional 178 shares during the last quarter. Richardson Financial Services Inc. grew its holdings in Sonoco Products by 5.7% during the first quarter. Richardson Financial Services Inc. now owns 3,345 shares of the industrial products company’s stock valued at $193,000 after purchasing an additional 180 shares during the last quarter. Curbstone Financial Management Corp lifted its stake in shares of Sonoco Products by 0.7% in the first quarter. Curbstone Financial Management Corp now owns 27,750 shares of the industrial products company’s stock worth $1,605,000 after buying an additional 200 shares during the last quarter. FinTrust Capital Advisors LLC lifted its stake in shares of Sonoco Products by 78.8% in the first quarter. FinTrust Capital Advisors LLC now owns 490 shares of the industrial products company’s stock worth $28,000 after buying an additional 216 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted 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 buying an additional 237 shares during the period. 77.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SON shares. Raymond James began coverage on shares of Sonoco Products in a research report on Friday, July 19th. They set an “outperform” rating and a $62.00 target price for the company. Citigroup cut their price objective on Sonoco Products from $64.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Wells Fargo & Company lowered Sonoco Products from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $54.00 to $52.00 in a report on Wednesday, August 21st. Finally, StockNews.com lowered Sonoco Products from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

Sonoco Products Stock Up 0.8 %

Shares of SON opened at $54.63 on Tuesday. Sonoco Products has a 52 week low of $48.22 and a 52 week high of $61.73. The firm has a market capitalization of $5.37 billion, a P/E ratio of 13.80, a P/E/G ratio of 2.11 and a beta of 0.68. The company has a 50-day simple moving average of $53.02 and a 200-day simple moving average of $55.20. 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 (NYSE:SON) last posted its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.28 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the prior year, the firm posted $1.38 EPS. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. On average, equities research analysts expect that Sonoco Products will post 5.09 earnings per share for the current year.

Sonoco Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend was Friday, August 9th. Sonoco Products’s dividend payout ratio (DPR) is presently 52.53%.

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.