30,402 Shares in Sonoco Products Company $SON Acquired by Fox Run Management L.L.C.

Fox Run Management L.L.C. acquired a new stake in Sonoco Products Company (NYSE:SON) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 30,402 shares of the industrial products company’s stock, valued at approximately $1,324,000.

Other institutional investors have also recently modified their holdings of the company. Savant Capital LLC bought a new position in shares of Sonoco Products in the second quarter worth $320,000. SouthState Corp grew its stake in Sonoco Products by 439.1% during the second quarter. SouthState Corp now owns 1,240 shares of the industrial products company’s stock worth $54,000 after buying an additional 1,010 shares in the last quarter. Access Investment Management LLC acquired a new stake in Sonoco Products during the second quarter worth about $10,550,000. Speece Thorson Capital Group Inc. increased its holdings in Sonoco Products by 63.5% in the 2nd quarter. Speece Thorson Capital Group Inc. now owns 355,136 shares of the industrial products company’s stock valued at $15,470,000 after buying an additional 137,881 shares during the period. Finally, Strs Ohio acquired a new position in shares of Sonoco Products in the 2nd quarter valued at approximately $2,371,000. 77.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Sonoco Products

In other Sonoco Products news, CFO Paul Joachimczyk purchased 20,500 shares of the business’s stock in a transaction dated Wednesday, October 29th. The shares were bought at an average price of $39.50 per share, for a total transaction of $809,750.00. Following the completion of the acquisition, the chief financial officer owned 20,500 shares in the company, valued at approximately $809,750. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John R. Haley acquired 2,506 shares of Sonoco Products stock in a transaction that occurred on Tuesday, October 28th. The stock was acquired at an average cost of $39.87 per share, for a total transaction of $99,914.22. Following the purchase, the director owned 23,310 shares of the company’s stock, valued at $929,369.70. The trade was a 12.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.74% of the stock is currently owned by company insiders.

Sonoco Products Trading Up 0.7%

Shares of SON stock opened at $40.72 on Friday. Sonoco Products Company has a twelve month low of $38.65 and a twelve month high of $52.77. The stock’s fifty day simple moving average is $43.06 and its 200 day simple moving average is $44.72. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $4.02 billion, a P/E ratio of 6.46, a P/E/G ratio of 0.73 and a beta of 0.67.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Wednesday, June 22nd. The industrial products company reported $1.00 EPS for the quarter. The firm had revenue of $1.35 billion for the quarter. Sonoco Products had a return on equity of 20.49% and a net margin of 8.82%. Sonoco Products has set its Q2 2022 guidance at $1.60-$1.70 EPS. As a group, sell-side analysts predict that Sonoco Products Company will post 6.1 EPS for the current fiscal year.

Sonoco Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 5.2%. The ex-dividend date is Monday, November 10th. Sonoco Products’s dividend payout ratio is 33.65%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. UBS Group reduced their price target on shares of Sonoco Products from $50.00 to $46.00 and set a “neutral” rating on the stock in a research report on Monday, October 6th. Jefferies Financial Group cut their target price on Sonoco Products from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, October 24th. Truist Financial reduced their target price on Sonoco Products from $58.00 to $57.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Zacks Research cut Sonoco Products from a “hold” rating to a “strong sell” rating in a report on Monday, October 27th. Finally, Citigroup dropped their price objective on Sonoco Products from $56.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, September 29th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Sonoco Products currently has an average rating of “Hold” and an average price target of $54.43.

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.