Sanctuary Advisors LLC Purchases 3,341 Shares of Sonoco Products (NYSE:SON)

Sanctuary Advisors LLC increased its position in shares of Sonoco Products (NYSE:SON) by 23.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,482 shares of the industrial products company’s stock after buying an additional 3,341 shares during the quarter. Sanctuary Advisors LLC’s holdings in Sonoco Products were worth $890,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Mercer Global Advisors Inc. ADV grew its stake 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 in the last quarter. Creative Financial Designs Inc. ADV grew its position in Sonoco Products by 13.9% in the third quarter. Creative Financial Designs Inc. ADV now owns 2,373 shares of the industrial products company’s stock valued at $130,000 after purchasing an additional 289 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake 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 valued at $1,002,000 after buying an additional 298 shares during the last quarter. TD Asset Management Inc lifted its position in 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 buying an additional 300 shares in the last quarter. Finally, Curi RMB Capital LLC boosted its stake in shares of Sonoco Products by 2.4% during the 3rd quarter. Curi RMB Capital LLC now owns 12,979 shares of the industrial products company’s stock worth $709,000 after buying an additional 304 shares during the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.

Analyst Ratings Changes

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

Sonoco Products Stock Performance

SON opened at $49.42 on Monday. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.36 and a quick ratio of 1.91. The business has a fifty day simple moving average of $51.58 and a 200 day simple moving average of $52.67. Sonoco Products has a 1 year low of $48.22 and a 1 year high of $61.73. The company has a market capitalization of $4.86 billion, a PE ratio of 16.98, a price-to-earnings-growth ratio of 2.14 and a beta of 0.67.

Sonoco Products (NYSE:SON) last announced its earnings results on Thursday, October 31st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the business posted $1.46 earnings per share. Sonoco Products’s quarterly revenue was down 2.0% on a year-over-year basis. Research analysts expect that Sonoco Products will post 5.09 EPS for the current year.

Sonoco Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.21%. 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.