Sonoco Products Company $SON Stock Position Increased by Voya Investment Management LLC

Voya Investment Management LLC grew its position in Sonoco Products Company (NYSE:SON) by 329.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 50,390 shares of the industrial products company’s stock after buying an additional 38,653 shares during the period. Voya Investment Management LLC’s holdings in Sonoco Products were worth $2,171,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Richardson Financial Services Inc. boosted its position in shares of Sonoco Products by 13.2% during the 2nd quarter. Richardson Financial Services Inc. now owns 2,185 shares of the industrial products company’s stock valued at $100,000 after purchasing an additional 255 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Sonoco Products by 11.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,559 shares of the industrial products company’s stock worth $199,000 after buying an additional 459 shares during the last quarter. My Legacy Advisors LLC raised its position in shares of Sonoco Products by 8.1% in the second quarter. My Legacy Advisors LLC now owns 7,174 shares of the industrial products company’s stock valued at $337,000 after purchasing an additional 536 shares during the period. CW Advisors LLC lifted its position in shares of Sonoco Products by 3.7% during the 2nd quarter. CW Advisors LLC now owns 15,336 shares of the industrial products company’s stock worth $668,000 after purchasing an additional 545 shares during the last quarter. Finally, Quarry LP increased its holdings in shares of Sonoco Products by 56.5% during the 1st quarter. Quarry LP now owns 1,518 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 548 shares during the period. Institutional investors and hedge funds own 77.69% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. UBS Group lowered their price objective on Sonoco Products from $50.00 to $46.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. Jefferies Financial Group dropped their price objective on shares of Sonoco Products from $61.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, October 24th. Wells Fargo & Company raised their target price on shares of Sonoco Products from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Weiss Ratings reissued a “hold (c-)” rating on shares of Sonoco Products in a research note on Wednesday, October 8th. Finally, Zacks Research downgraded Sonoco Products from a “hold” rating to a “strong sell” rating in a research note on Monday, October 27th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $54.43.

Sonoco Products Trading Up 0.8%

Shares of NYSE:SON opened at $43.51 on Monday. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 1.14. The stock has a market cap of $4.29 billion, a PE ratio of 6.91, a P/E/G ratio of 0.80 and a beta of 0.55. The business has a 50 day moving average of $41.34 and a 200-day moving average of $43.83. Sonoco Products Company has a 12-month low of $38.65 and a 12-month high of $50.09.

Sonoco Products (NYSE:SON) last issued its quarterly earnings results on Wednesday, June 22nd. The industrial products company reported $1.00 earnings per share (EPS) for the quarter. The business had revenue of $1.35 billion for the quarter. Sonoco Products had a return on equity of 20.49% and a net margin of 8.82%.Sonoco Products has set its Q2 2022 guidance at $1.60-$1.70 EPS. As a group, equities research analysts forecast that Sonoco Products Company will post 6.1 earnings per share for the current year.

Sonoco Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th were given a $0.53 dividend. The ex-dividend date was Monday, November 10th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.9%. Sonoco Products’s payout ratio is 33.65%.

Insiders Place Their Bets

In other Sonoco Products news, CFO Paul Joachimczyk bought 20,500 shares of the stock in a transaction that occurred on Wednesday, October 29th. The shares were bought at an average price of $39.50 per share, for a total transaction of $809,750.00. Following the acquisition, the chief financial officer directly owned 20,500 shares of the company’s stock, valued at approximately $809,750. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John R. Haley purchased 2,506 shares of the business’s stock in a transaction that occurred on Tuesday, October 28th. The shares were purchased at an average price of $39.87 per share, for a total transaction of $99,914.22. Following the completion of the acquisition, the director owned 23,310 shares of the company’s stock, valued at $929,369.70. The trade was a 12.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.74% of the company’s stock.

Sonoco Products Profile

Sonoco Products Company (NYSE: SON) is a global provider of diversified packaging solutions, serving a wide range of consumer, industrial and retail markets. The company offers a broad portfolio that includes rigid paper and plastic containers, flexible packaging, industrial core and tube products, thermoformed plastics, retail point-of-purchase displays, and packaging supply chain services. Through its solutions, Sonoco helps customers in food and beverage, personal care, chemicals, healthcare, home and garden, and electronics industries address their packaging needs, improve product shelf appeal, and optimize logistics efficiency.

With operations in more than 30 countries across North America, South America, Europe, Asia and Africa, Sonoco leverages a global network of manufacturing facilities, recycling centers and distribution channels to meet the demands of multinational and regional customers.