Captrust Financial Advisors Increases Holdings in Sonoco Products (NYSE:SON)

Captrust Financial Advisors increased its holdings in Sonoco Products (NYSE:SON) by 20.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,377 shares of the industrial products company’s stock after acquiring an additional 4,426 shares during the quarter. Captrust Financial Advisors’ holdings in Sonoco Products were worth $1,289,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Barclays PLC lifted its stake in shares of Sonoco Products by 29.8% in the 3rd quarter. Barclays PLC now owns 94,885 shares of the industrial products company’s stock valued at $5,184,000 after purchasing an additional 21,799 shares during the period. Franklin Resources Inc. lifted its position in Sonoco Products by 110.4% during the third quarter. Franklin Resources Inc. now owns 73,501 shares of the industrial products company’s stock valued at $4,018,000 after buying an additional 38,564 shares during the period. Wedmont Private Capital lifted its position in Sonoco Products by 3.9% during the fourth quarter. Wedmont Private Capital now owns 6,652 shares of the industrial products company’s stock valued at $306,000 after buying an additional 247 shares during the period. Pallas Capital Advisors LLC grew its position in shares of Sonoco Products by 6.4% in the 4th quarter. Pallas Capital Advisors LLC now owns 4,701 shares of the industrial products company’s stock worth $230,000 after buying an additional 284 shares during the period. Finally, Park Avenue Securities LLC grew its position in shares of Sonoco Products by 2.2% in the 4th quarter. Park Avenue Securities LLC now owns 14,084 shares of the industrial products company’s stock worth $688,000 after buying an additional 298 shares during the period. 77.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Sonoco Products news, Director John R. Haley purchased 3,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were acquired at an average price of $46.76 per share, for a total transaction of $140,280.00. Following the purchase, the director now directly owns 18,558 shares of the company’s stock, valued at $867,772.08. The trade was a 19.28% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO R. Howard Coker purchased 20,000 shares of Sonoco Products stock in a transaction on Thursday, March 13th. The stock was bought at an average price of $46.10 per share, with a total value of $922,000.00. Following the transaction, the chief executive officer now owns 482,365 shares of the company’s stock, valued at approximately $22,237,026.50. This represents a 4.33% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 50,721 shares of company stock worth $2,206,646. 0.74% of the stock is owned by insiders.

Sonoco Products Stock Performance

Shares of SON opened at $45.24 on Thursday. Sonoco Products has a 12 month low of $39.46 and a 12 month high of $61.73. The business’s fifty day simple moving average is $45.11 and its two-hundred day simple moving average is $47.77. The company has a current ratio of 0.79, a quick ratio of 1.91 and a debt-to-equity ratio of 2.18. The company has a market cap of $4.46 billion, a price-to-earnings ratio of 27.42, a P/E/G ratio of 0.76 and a beta of 0.68.

Sonoco Products (NYSE:SON) last released its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $1.38 EPS for the quarter, missing the consensus estimate of $1.41 by ($0.03). The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Sonoco Products had a net margin of 2.60% and a return on equity of 20.81%. The company’s quarterly revenue was up 30.6% on a year-over-year basis. During the same period last year, the business earned $1.12 earnings per share. Research analysts anticipate that Sonoco Products will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 4.69%. This is a boost from Sonoco Products’s previous quarterly dividend of $0.52. The ex-dividend date is Friday, May 9th. Sonoco Products’s payout ratio is presently 137.66%.

Wall Street Analyst Weigh In

SON has been the subject of several recent research reports. StockNews.com upgraded shares of Sonoco Products from a “sell” rating to a “hold” rating in a report on Wednesday, May 7th. Wells Fargo & Company cut their target price on Sonoco Products from $50.00 to $48.00 and set an “underweight” rating on the stock in a research note on Monday, February 24th. Raymond James cut their target price on Sonoco Products from $54.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 22nd. Truist Financial lowered their price target on Sonoco Products from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Finally, Jefferies Financial Group began coverage on shares of Sonoco Products in a research report on Tuesday, April 22nd. They set a “buy” rating and a $62.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $56.43.

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.