Sonoco Products (NYSE:SON) Shares Acquired by Brown Advisory Inc.

Brown Advisory Inc. lifted its holdings in shares of Sonoco Products (NYSE:SONFree Report) by 105.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 724,637 shares of the industrial products company’s stock after purchasing an additional 371,096 shares during the quarter. Brown Advisory Inc. owned about 0.74% of Sonoco Products worth $40,485,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Sonoco Products by 0.6% during the third quarter. Vanguard Group Inc. now owns 10,969,740 shares of the industrial products company’s stock valued at $596,205,000 after acquiring an additional 64,047 shares during the last quarter. American Century Companies Inc. raised its position in Sonoco Products by 20.2% in the third quarter. American Century Companies Inc. now owns 2,787,019 shares of the industrial products company’s stock valued at $151,474,000 after purchasing an additional 467,431 shares during the period. Dimensional Fund Advisors LP lifted its stake in Sonoco Products by 5.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,300,033 shares of the industrial products company’s stock worth $128,506,000 after purchasing an additional 109,983 shares in the last quarter. Earnest Partners LLC boosted its position in shares of Sonoco Products by 6.8% during the third quarter. Earnest Partners LLC now owns 2,181,648 shares of the industrial products company’s stock worth $118,573,000 after buying an additional 138,181 shares during the period. Finally, Fuller & Thaler Asset Management Inc. grew its stake in shares of Sonoco Products by 3.8% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,279,667 shares of the industrial products company’s stock valued at $69,550,000 after buying an additional 46,870 shares in the last quarter. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SON shares. Wells Fargo & Company increased their target price on Sonoco Products from $56.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. Citigroup dropped their price objective on shares of Sonoco Products from $66.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, April 4th. Finally, TheStreet lowered shares of Sonoco Products from a “b-” rating to a “c+” rating in a report on Wednesday, February 14th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $63.33.

View Our Latest Stock Analysis on Sonoco Products

Sonoco Products Stock Up 0.4 %

SON stock traded up $0.26 during mid-day trading on Friday, reaching $60.28. The company had a trading volume of 1,339,203 shares, compared to its average volume of 462,080. Sonoco Products has a fifty-two week low of $49.98 and a fifty-two week high of $63.74. The company has a market capitalization of $5.92 billion, a price-to-earnings ratio of 15.22, a price-to-earnings-growth ratio of 2.32 and a beta of 0.68. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.83 and a current ratio of 1.31. The firm has a fifty day simple moving average of $57.39 and a 200 day simple moving average of $56.60.

Sonoco Products (NYSE:SONGet Free Report) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $1.12 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter last year, the company earned $1.40 earnings per share. The firm’s revenue was down 5.3% compared to the same quarter last year. Analysts forecast that Sonoco Products will post 5.19 earnings per share for the current fiscal year.

Sonoco Products Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend is Thursday, May 9th. This is a positive change from Sonoco Products’s previous quarterly dividend of $0.51. Sonoco Products’s dividend payout ratio is 52.53%.

Insider Buying and Selling at Sonoco Products

In other news, insider Russell K. Grissett sold 2,039 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $56.06, for a total transaction of $114,306.34. Following the completion of the transaction, the insider now directly owns 11,988 shares of the company’s stock, valued at approximately $672,047.28. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Russell K. Grissett sold 2,039 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $56.06, for a total value of $114,306.34. Following the completion of the transaction, the insider now owns 11,988 shares in the company, valued at approximately $672,047.28. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Adam Wood sold 537 shares of Sonoco Products stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $57.04, for a total transaction of $30,630.48. Following the sale, the vice president now owns 28,273 shares in the company, valued at $1,612,691.92. The disclosure for this sale can be found here. Insiders have sold a total of 13,076 shares of company stock worth $749,002 over the last ninety days. Corporate insiders own 0.51% of the company’s stock.

Sonoco Products Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Sonoco Products (NYSE:SON)

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