B.O.S.S. Retirement Advisors LLC Raises Stock Position in Sonoco Products (NYSE:SON)

B.O.S.S. Retirement Advisors LLC lifted its stake in Sonoco Products (NYSE:SON) by 8.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,191 shares of the industrial products company’s stock after purchasing an additional 1,784 shares during the period. B.O.S.S. Retirement Advisors LLC’s holdings in Sonoco Products were worth $1,212,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of SON. Quadrature Capital Ltd bought a new stake in Sonoco Products during the 4th quarter valued at approximately $969,000. Sei Investments Co. boosted its position in shares of Sonoco Products by 6.9% during the first quarter. Sei Investments Co. now owns 1,363,937 shares of the industrial products company’s stock valued at $78,890,000 after purchasing an additional 88,407 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Sonoco Products by 49.3% in the first quarter. Russell Investments Group Ltd. now owns 123,974 shares of the industrial products company’s stock worth $7,171,000 after purchasing an additional 40,927 shares during the period. Atria Investments Inc bought a new position in Sonoco Products in the first quarter worth $1,626,000. Finally, AQR Capital Management LLC lifted its position in Sonoco Products by 80.8% during the second quarter. AQR Capital Management LLC now owns 555,575 shares of the industrial products company’s stock valued at $28,179,000 after buying an additional 248,236 shares during the period. Institutional investors own 77.69% of the company’s stock.

Sonoco Products Stock Down 1.2 %

NYSE:SON opened at $54.21 on Thursday. The firm has a 50-day simple moving average of $53.55 and a two-hundred day simple moving average of $54.95. The firm has a market cap of $5.33 billion, a P/E ratio of 13.69, a P/E/G ratio of 2.08 and a beta of 0.68. Sonoco Products has a fifty-two week low of $48.22 and a fifty-two week high of $61.73. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.85 and a current ratio of 1.30.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.02. The company had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.69 billion. Sonoco Products had a net margin of 5.57% and a return on equity of 20.10%. The firm’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.38 earnings per share. Analysts predict that Sonoco Products will post 5.09 earnings per share for the current fiscal year.

Sonoco Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 annualized dividend and a dividend yield of 3.84%. Sonoco Products’s dividend payout ratio (DPR) is presently 52.53%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SON shares. Citigroup upped their target price on shares of Sonoco Products from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Raymond James assumed coverage on shares of Sonoco Products in a report on Friday, July 19th. They set an “outperform” rating and a $62.00 target price for the company. Wells Fargo & Company cut Sonoco Products from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $54.00 to $52.00 in a research report on Wednesday, August 21st. Finally, StockNews.com lowered Sonoco Products from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 3rd. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.00.

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.