SRS Capital Advisors Inc. Boosts Stock Position in Sonoco Products (NYSE:SON)

SRS Capital Advisors Inc. raised its position in shares of Sonoco Products (NYSE:SON) by 311.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,713 shares of the industrial products company’s stock after buying an additional 1,297 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Sonoco Products were worth $84,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. State of Alaska Department of Revenue lifted its position in Sonoco Products by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 11,351 shares of the industrial products company’s stock valued at $620,000 after acquiring an additional 770 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Sonoco Products by 2.8% during the third quarter. Janney Montgomery Scott LLC now owns 18,333 shares of the industrial products company’s stock worth $1,002,000 after purchasing an additional 507 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new stake in shares of Sonoco Products during the 3rd quarter valued at $224,000. D.B. Root & Company LLC boosted its position in shares of Sonoco Products by 16.9% in the 3rd quarter. D.B. Root & Company LLC now owns 14,581 shares of the industrial products company’s stock worth $797,000 after purchasing an additional 2,103 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in Sonoco Products during the 3rd quarter worth $33,000. 77.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SON shares. Bank of America increased their price target on Sonoco Products from $66.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, January 6th. StockNews.com upgraded shares of Sonoco Products from a “sell” rating to a “hold” rating in a research note on Wednesday. Truist Financial cut their price target on shares of Sonoco Products from $68.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Wells Fargo & Company decreased their price target on shares of Sonoco Products from $50.00 to $48.00 and set an “underweight” rating for the company in a report on Monday, February 24th. Finally, Citigroup dropped their price objective on shares of Sonoco Products from $59.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $58.50.

Insider Buying and Selling at Sonoco Products

In other news, Director John R. Haley acquired 3,000 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was bought at an average price of $46.76 per share, with a total value of $140,280.00. Following the completion of the acquisition, the director now owns 18,558 shares of the company’s stock, valued at approximately $867,772.08. This represents a 19.28 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert R. Hill, Jr. sold 4,000 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $47.95, for a total transaction of $191,800.00. Following the sale, the director now directly owns 16,065 shares in the company, valued at approximately $770,316.75. The trade was a 19.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by corporate insiders.

Sonoco Products Stock Up 1.6 %

SON stock opened at $46.93 on Friday. The company has a market capitalization of $4.61 billion, a P/E ratio of 28.44, a price-to-earnings-growth ratio of 0.76 and a beta of 0.61. Sonoco Products has a 12 month low of $44.35 and a 12 month high of $61.73. The firm’s fifty day simple moving average is $47.64 and its 200-day simple moving average is $50.87. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.79 and a quick ratio of 1.91.

Sonoco Products (NYSE:SON) last posted its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.01). The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Sonoco Products had a net margin of 2.60% and a return on equity of 20.81%. As a group, equities research analysts forecast that Sonoco Products will post 6.1 earnings per share for the current year.

Sonoco Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 26th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend is Wednesday, February 26th. Sonoco Products’s dividend payout ratio is currently 126.06%.

Sonoco Products Company 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.