RIA Advisory Group LLC Takes Position in Sonoco Products (NYSE:SON)

RIA Advisory Group LLC bought a new position in Sonoco Products (NYSE:SON) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,703 shares of the industrial products company’s stock, valued at approximately $257,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its holdings in shares of Sonoco Products by 49.3% in the first quarter. Russell Investments Group Ltd. now owns 123,974 shares of the industrial products company’s stock worth $7,171,000 after buying an additional 40,927 shares during the period. AQR Capital Management LLC grew its stake in shares of Sonoco Products by 80.8% in the second quarter. AQR Capital Management LLC now owns 555,575 shares of the industrial products company’s stock worth $28,179,000 after acquiring an additional 248,236 shares during the last quarter. Atria Investments Inc acquired a new stake in shares of Sonoco Products in the first quarter worth $1,626,000. Canada Pension Plan Investment Board acquired a new stake in shares of Sonoco Products in the second quarter worth $2,419,000. Finally, Bahl & Gaynor Inc. boosted its stake in Sonoco Products by 8.7% during the first quarter. Bahl & Gaynor Inc. now owns 140,093 shares of the industrial products company’s stock worth $8,103,000 after buying an additional 11,245 shares in the last quarter. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Sonoco Products Price Performance

Shares of NYSE:SON traded down $0.24 on Friday, hitting $50.07. The stock had a trading volume of 503,827 shares, compared to its average volume of 616,230. Sonoco Products has a twelve month low of $48.22 and a twelve month high of $61.73. 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’s 50 day moving average price is $53.16 and its 200-day moving average price is $54.17. The company has a market capitalization of $4.92 billion, a price-to-earnings ratio of 17.21, a price-to-earnings-growth ratio of 2.09 and a beta of 0.69.

Sonoco Products (NYSE:SON) last issued its earnings results on Thursday, October 31st. The industrial products company reported $1.49 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the previous year, the company earned $1.46 EPS. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, equities research analysts predict that Sonoco Products will post 5.1 earnings per share for the current year.

Sonoco Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.15%. Sonoco Products’s dividend payout ratio is 71.48%.

Analysts Set New Price Targets

A number of research firms have weighed in on SON. Raymond James began coverage on shares of Sonoco Products in a research note on Friday, July 19th. They set an “outperform” rating and a $62.00 price target on the stock. Wells Fargo & Company downgraded shares of Sonoco Products from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $54.00 to $52.00 in a research note on Wednesday, August 21st. Citigroup lifted their price target on shares of Sonoco Products from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Finally, Robert W. Baird decreased 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $58.00.

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.