Private Advisor Group LLC Sells 678 Shares of Sonoco Products (NYSE:SON)

Private Advisor Group LLC reduced its stake in shares of Sonoco Products (NYSE:SON) by 15.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,690 shares of the industrial products company’s stock after selling 678 shares during the quarter. Private Advisor Group LLC’s holdings in Sonoco Products were worth $202,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Community Trust & Investment Co. acquired a new stake in Sonoco Products during the 3rd quarter worth $917,000. Westhampton Capital LLC lifted its position in Sonoco Products by 35.8% during the 3rd quarter. Westhampton Capital LLC now owns 36,532 shares of the industrial products company’s stock worth $1,996,000 after buying an additional 9,630 shares in the last quarter. Jade Capital Advisors LLC bought a new stake in Sonoco Products during the 3rd quarter worth about $273,000. Raymond James & Associates lifted its position in Sonoco Products by 18.1% during the 3rd quarter. Raymond James & Associates now owns 121,583 shares of the industrial products company’s stock worth $6,642,000 after buying an additional 18,648 shares in the last quarter. Finally, Bfsg LLC acquired a new position in shares of Sonoco Products during the 3rd quarter worth about $205,000. Institutional investors and hedge funds own 77.69% of the company’s stock.

Sonoco Products Stock Performance

Shares of NYSE:SON opened at $50.65 on Friday. The company’s 50 day moving average price is $53.64 and its two-hundred day moving average price is $54.38. Sonoco Products has a 12-month low of $48.22 and a 12-month high of $61.73. The company has a quick ratio of 1.91, a current ratio of 2.36 and a debt-to-equity ratio of 1.74. The firm has a market cap of $4.98 billion, a PE ratio of 17.41, a PEG ratio of 2.11 and a beta of 0.69.

Sonoco Products (NYSE:SON) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. Sonoco Products had a net margin of 4.38% and a return on equity of 19.92%. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the firm posted $1.46 EPS. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. Equities research analysts predict that Sonoco Products will post 5.1 earnings per share for the current year.

Sonoco Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date of this dividend is Friday, November 8th. Sonoco Products’s dividend payout ratio (DPR) is presently 71.48%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SON shares. Citigroup boosted their price objective on shares of Sonoco Products from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Robert W. Baird decreased their target price on shares of Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Raymond James began coverage on shares of Sonoco Products in a research report on Friday, July 19th. They set an “outperform” rating and a $62.00 target price on the stock. Finally, Wells Fargo & Company lowered shares of Sonoco Products from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $54.00 to $52.00 in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $58.00.

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.