Nvwm LLC Decreases Stock Holdings in Sonoco Products (NYSE:SON)

Nvwm LLC trimmed its stake in shares of Sonoco Products (NYSE:SON) by 1.0% in the 1st quarter, Holdings Channel reports. The firm owned 41,392 shares of the industrial products company’s stock after selling 405 shares during the period. Nvwm LLC’s holdings in Sonoco Products were worth $2,394,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Rise Advisors LLC purchased a new stake in Sonoco Products during the first quarter valued at approximately $26,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Sonoco Products in the fourth quarter worth $28,000. FinTrust Capital Advisors LLC increased its stake in shares of Sonoco Products by 78.8% in the first quarter. FinTrust Capital Advisors LLC now owns 490 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 216 shares in the last quarter. Burkett Financial Services LLC purchased a new stake in shares of Sonoco Products in the fourth quarter worth $30,000. Finally, TFO Wealth Partners LLC increased its stake in shares of Sonoco Products by 12,183.3% in the fourth quarter. TFO Wealth Partners LLC now owns 737 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 731 shares in the last quarter. 77.69% of the stock is owned by hedge funds and other institutional investors.

Sonoco Products Price Performance

Shares of NYSE:SON traded up $1.27 during midday trading on Friday, reaching $50.88. 836,964 shares of the company were exchanged, compared to its average volume of 1,077,906. The company has a current ratio of 1.31, a quick ratio of 0.83 and a debt-to-equity ratio of 1.08. The business’s fifty day moving average is $56.60 and its two-hundred day moving average is $56.83. Sonoco Products has a one year low of $48.22 and a one year high of $61.73. The stock has a market cap of $5.00 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 1.93 and a beta of 0.68.

Sonoco Products (NYSE:SON) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.07. Sonoco Products had a net margin of 5.86% and a return on equity of 20.79%. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the business earned $1.40 earnings per share. Sonoco Products’s revenue for the quarter was down 5.3% on a year-over-year basis. As a group, analysts predict that Sonoco Products will post 5.08 earnings per share for the current year.

Sonoco Products Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were given a dividend of $0.52 per share. This is a positive change from Sonoco Products’s previous quarterly dividend of $0.51. The ex-dividend date was Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.09%. Sonoco Products’s dividend payout ratio is currently 52.53%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SON. Citigroup reduced their price objective on shares of Sonoco Products from $64.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, July 8th. StockNews.com cut shares of Sonoco Products from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 3rd. Finally, Wells Fargo & Company increased their price objective on shares of Sonoco Products from $56.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $58.50.

About Sonoco Products

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.