Bfsg LLC Acquires New Shares in Sonoco Products (NYSE:SON)

Bfsg LLC acquired a new position in shares of Sonoco Products (NYSE:SON) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,750 shares of the industrial products company’s stock, valued at approximately $205,000.

Other large investors also recently made changes to their positions in the company. Rise Advisors LLC acquired a new position in Sonoco Products in the 1st quarter worth about $26,000. FinTrust Capital Advisors LLC grew its stake in Sonoco Products by 78.8% in the 1st quarter. FinTrust Capital Advisors LLC now owns 490 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 216 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Sonoco Products in the first quarter valued at $50,000. Abich Financial Wealth Management LLC bought a new position in shares of Sonoco Products in the second quarter worth $50,000. Finally, Gradient Investments LLC purchased a new position in shares of Sonoco Products during the 2nd quarter valued at $58,000. Institutional investors and hedge funds own 77.69% of the company’s stock.

Sonoco Products Stock Down 1.5 %

Shares of NYSE SON opened at $53.44 on Friday. Sonoco Products has a 12-month low of $48.22 and a 12-month high of $61.73. The stock has a market cap of $5.25 billion, a PE ratio of 13.49, a P/E/G ratio of 2.12 and a beta of 0.68. The company has a 50-day moving average of $53.63 and a 200 day moving average of $54.94. The company has a current ratio of 1.30, a quick ratio of 0.85 and a debt-to-equity ratio of 1.04.

Sonoco Products (NYSE:SON) last released 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. The firm had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.69 billion. Sonoco Products had a net margin of 5.57% and a return on equity of 20.10%. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.38 EPS. As a group, sell-side analysts predict that Sonoco Products will post 5.09 EPS for the current fiscal year.

Sonoco Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be paid a $0.52 dividend. The ex-dividend date is Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 3.89%. Sonoco Products’s dividend payout ratio is presently 52.53%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Raymond James started coverage on shares of Sonoco Products in a research report on Friday, July 19th. They set an “outperform” rating and a $62.00 price target for the company. Wells Fargo & Company cut shares of Sonoco Products from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $54.00 to $52.00 in a research note on Wednesday, August 21st. StockNews.com cut Sonoco Products from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 3rd. Finally, Citigroup raised their price target on Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $59.00.

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.