25,124 Sonoco Products Company $SON Shares Acquired by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP grew its position in Sonoco Products Company (NYSE:SON) by 209,366.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,136 shares of the industrial products company’s stock after purchasing an additional 25,124 shares during the quarter. Fulcrum Asset Management LLP’s holdings in Sonoco Products were worth $1,247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Commonwealth Equity Services LLC increased its stake in Sonoco Products by 1.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 19,238 shares of the industrial products company’s stock worth $939,000 after buying an additional 317 shares in the last quarter. Kestra Private Wealth Services LLC lifted its position in shares of Sonoco Products by 2.0% in the third quarter. Kestra Private Wealth Services LLC now owns 38,976 shares of the industrial products company’s stock valued at $1,903,000 after acquiring an additional 762 shares in the last quarter. Chicago Partners Investment Group LLC lifted its position in shares of Sonoco Products by 63.3% in the third quarter. Chicago Partners Investment Group LLC now owns 9,778 shares of the industrial products company’s stock valued at $490,000 after acquiring an additional 3,792 shares in the last quarter. Verity Asset Management Inc. bought a new position in shares of Sonoco Products in the third quarter worth about $226,000. Finally, Ascent Group LLC boosted its stake in shares of Sonoco Products by 5.6% in the third quarter. Ascent Group LLC now owns 15,435 shares of the industrial products company’s stock worth $754,000 after acquiring an additional 820 shares during the period. 77.69% of the stock is currently owned by institutional investors.

Sonoco Products Stock Down 0.4%

Shares of NYSE:SON opened at $49.57 on Thursday. The business’s 50 day moving average is $49.61 and its 200 day moving average is $52.46. The stock has a market cap of $4.90 billion, a P/E ratio of -21.55, a price-to-earnings-growth ratio of 1.71 and a beta of 0.37. Sonoco Products Company has a 52-week low of $39.27 and a 52-week high of $60.67. The company has a quick ratio of 0.67, a current ratio of 1.18 and a debt-to-equity ratio of 1.34.

Sonoco Products (NYSE:SON) last posted its quarterly earnings results on Wednesday, October 21st. The industrial products company reported $1.67 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.07). The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.07 billion. Sonoco Products had a negative net margin of 3.08% and a positive return on equity of 16.40%. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.92 EPS. Sell-side analysts predict that Sonoco Products Company will post 5.41 EPS for the current year.

Sonoco Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Tuesday, November 10th will be paid a dividend of $0.54 per share. The ex-dividend date is Tuesday, November 10th. This represents a $2.16 dividend on an annualized basis and a yield of 4.4%. Sonoco Products’s dividend payout ratio is presently -93.91%.

Wall Street Analyst Weigh In

SON has been the subject of several recent analyst reports. Citigroup dropped their price target on Sonoco Products from $63.00 to $59.00 and set a “buy” rating for the company in a research note on Friday, October 23rd. UBS Group restated a “neutral” rating and set a $50.00 price objective on shares of Sonoco Products in a research report on Monday, October 26th. Weiss Ratings cut Sonoco Products from a “hold (c+)” rating to a “sell (d+)” rating in a report on Friday, October 30th. Bank of America downgraded Sonoco Products from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $69.00 to $60.00 in a research report on Thursday, September 3rd. Finally, Wells Fargo & Company dropped their price target on Sonoco Products from $56.00 to $53.00 and set an “equal weight” rating for the company in a research note on Monday, October 19th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $57.38.

About Sonoco Products

Sonoco Products Company is a global packaging manufacturer founded in 1899 and headquartered in Hartsville, South Carolina. It develops packaging and related services for customers in industries including food, consumer goods, health care and manufacturing. Its products include metal and paper containers, flexible packaging, industrial paper-based packaging and protective packaging. Sonoco also provides packaging-related services, such as supply-chain and graphics management. The company serves customers worldwide through operations in multiple regions, including North America, Europe and Asia.