Sonoco Products (NYSE:SON) Holdings Increased by Schroder Investment Management Group

Schroder Investment Management Group grew its stake in shares of Sonoco Products (NYSE:SON – Get Rating) by 23.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 904,430 shares of the industrial products company’s stock after buying an additional 174,209 shares during the quarter. Schroder Investment Management Group owned about 0.93% of Sonoco Products worth $54,908,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SON. Nuveen Asset Management LLC grew its stake in shares of Sonoco Products by 35.8% in the 3rd quarter. Nuveen Asset Management LLC now owns 346,837 shares of the industrial products company’s stock worth $19,676,000 after purchasing an additional 91,388 shares during the last quarter. Lido Advisors LLC acquired a new stake in Sonoco Products in the third quarter valued at approximately $914,000. Cibc World Markets Corp acquired a new stake in Sonoco Products in the third quarter valued at approximately $1,424,000. Retirement Systems of Alabama lifted its stake in Sonoco Products by 0.7% in the fourth quarter. Retirement Systems of Alabama now owns 128,523 shares of the industrial products company’s stock valued at $7,803,000 after acquiring an additional 870 shares during the last quarter. Finally, Independent Advisor Alliance acquired a new stake in Sonoco Products in the third quarter valued at approximately $211,000. 76.43% of the stock is currently owned by institutional investors.

Sonoco Products Stock Up 1.1 %

NYSE SON traded up $0.66 during trading hours on Friday, reaching $60.67. 8,475 shares of the company’s stock were exchanged, compared to its average volume of 447,064. The company has a market capitalization of $5.94 billion, a price-to-earnings ratio of 11.88, a price-to-earnings-growth ratio of 2.07 and a beta of 0.71. Sonoco Products has a one year low of $51.52 and a one year high of $65.96. The company’s 50-day moving average is $59.75 and its two-hundred day moving average is $59.77. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.79 and a current ratio of 1.47.

Sonoco Products (NYSE:SON – Get Rating) last issued its quarterly earnings results on Monday, May 1st. The industrial products company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.07. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Sonoco Products had a net margin of 6.93% and a return on equity of 29.17%. The business’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the business earned $1.85 EPS. On average, analysts forecast that Sonoco Products will post 5.82 EPS for the current fiscal year.

Sonoco Products Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 9th. Shareholders of record on Wednesday, May 10th will be issued a dividend of $0.51 per share. This is an increase from Sonoco Products’s previous quarterly dividend of $0.49. The ex-dividend date is Tuesday, May 9th. This represents a $2.04 annualized dividend and a yield of 3.36%. Sonoco Products’s dividend payout ratio (DPR) is currently 40.40%.

Wall Street Analyst Weigh In

SON has been the subject of a number of analyst reports. Argus upgraded shares of Sonoco Products from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a research note on Tuesday, February 14th. They noted that the move was a valuation call. Citigroup reduced their price objective on shares of Sonoco Products from $71.00 to $69.00 and set a “buy” rating for the company in a research note on Monday, February 13th. Bank of America boosted their price objective on shares of Sonoco Products from $76.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, April 20th. Seaport Res Ptn upgraded shares of Sonoco Products from a “neutral” rating to a “buy” rating in a research note on Monday, March 20th. Finally, StockNews.com cut shares of Sonoco Products from a “buy” rating to a “hold” rating in a research note on Thursday, May 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Sonoco Products has a consensus rating of “Hold” and a consensus price target of $66.17.

Insider Buying and Selling at Sonoco Products

In other Sonoco Products news, insider Ernest D. Haynes III sold 1,834 shares of the firm’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $60.00, for a total transaction of $110,040.00. Following the completion of the sale, the insider now owns 1,729 shares of the company’s stock, valued at approximately $103,740. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Sonoco Products news, Director Robert R. Hill, Jr. bought 10,000 shares of the firm’s stock in a transaction on Monday, March 13th. The shares were purchased at an average price of $56.00 per share, for a total transaction of $560,000.00. Following the completion of the transaction, the director now directly owns 20,065 shares in the company, valued at approximately $1,123,640. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ernest D. Haynes III sold 1,834 shares of Sonoco Products stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $60.00, for a total value of $110,040.00. Following the completion of the transaction, the insider now owns 1,729 shares in the company, valued at approximately $103,740. The disclosure for this sale can be found here. Insiders sold 2,565 shares of company stock valued at $152,754 in the last quarter. 0.51% of the stock is currently owned by insiders.

Sonoco Products Profile

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Sonoco Products Co engages in the manufacture of industrial and consumer packaging products and services. It operates through the following segments: Consumer Packaging, Paper and Industrial Converted Products, Protective Solutions, and Display and Packaging. The Consumer Packaging segment offers round and shaped rigid containers, fiber and plastic caulk and adhesive tubes, and aluminum, steel, and peelable membrane easy-open closures for paper and metal cans.