SageView Advisory Group LLC Has $765,000 Stock Holdings in Sonoco Products (NYSE:SON)

SageView Advisory Group LLC boosted its holdings in Sonoco Products (NYSE:SON) by 17.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,088 shares of the industrial products company’s stock after purchasing an additional 1,977 shares during the quarter. SageView Advisory Group LLC’s holdings in Sonoco Products were worth $765,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Johnson Investment Counsel Inc. grew its position in Sonoco Products by 0.6% during the third quarter. Johnson Investment Counsel Inc. now owns 31,339 shares of the industrial products company’s stock valued at $1,703,000 after buying an additional 200 shares during the period. Curbstone Financial Management Corp grew its position in Sonoco Products by 0.7% during the fourth quarter. Curbstone Financial Management Corp now owns 27,550 shares of the industrial products company’s stock valued at $1,539,000 after acquiring an additional 200 shares during the last quarter. Treasurer of the State of North Carolina grew its position in Sonoco Products by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 42,937 shares of the industrial products company’s stock valued at $2,334,000 after acquiring an additional 220 shares during the last quarter. Equitable Trust Co. grew its holdings in shares of Sonoco Products by 1.5% in the fourth quarter. Equitable Trust Co. now owns 18,688 shares of the industrial products company’s stock worth $1,044,000 after purchasing an additional 272 shares during the last quarter. Finally, IVC Wealth Advisors LLC grew its holdings in shares of Sonoco Products by 7.1% in the fourth quarter. IVC Wealth Advisors LLC now owns 4,669 shares of the industrial products company’s stock worth $261,000 after purchasing an additional 310 shares during the last quarter. 77.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SON. Wells Fargo & Company raised their price objective on Sonoco Products from $56.00 to $57.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Citigroup cut their price target on Sonoco Products from $66.00 to $65.00 and set a “buy” rating for the company in a research note 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 equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $63.33.

Insider Activity

In other Sonoco Products 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 sale, 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 through the SEC website. In other Sonoco Products news, VP Adam Wood sold 537 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 28,273 shares of the company’s stock, valued at approximately $1,612,691.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Russell K. Grissett sold 2,039 shares of the firm’s stock in a transaction that occurred 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 directly owns 11,988 shares of the company’s stock, valued at $672,047.28. The disclosure for this sale can be found here. Corporate insiders own 0.51% of the company’s stock.

Sonoco Products Stock Down 0.0 %

NYSE SON traded down $0.03 during trading on Friday, hitting $60.61. The company’s stock had a trading volume of 473,617 shares, compared to its average volume of 562,735. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.31 and a quick ratio of 0.83. The company has a market cap of $5.96 billion, a PE ratio of 15.31, a P/E/G ratio of 2.31 and a beta of 0.68. The business’s 50 day simple moving average is $57.76 and its 200-day simple moving average is $56.82. Sonoco Products has a fifty-two week low of $49.98 and a fifty-two week high of $63.74.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.07. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.67 billion. Sonoco Products had a return on equity of 20.79% and a net margin of 5.86%. Sonoco Products’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.40 earnings per share. On average, equities analysts anticipate that Sonoco Products will post 5.19 EPS for the current fiscal year.

Sonoco Products Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.43%. The ex-dividend date 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%.

Sonoco Products 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.