Cetera Investment Advisers Decreases Stock Position in Sonoco Products Company (NYSE:SON)

Cetera Investment Advisers lowered its stake in Sonoco Products Company (NYSE:SON) by 34.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,601 shares of the industrial products company’s stock after selling 41,446 shares during the period. Cetera Investment Advisers owned approximately 0.08% of Sonoco Products worth $3,666,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. increased its holdings in Sonoco Products by 508.1% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 900 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 752 shares during the period. UMB Bank n.a. increased its holdings in Sonoco Products by 152.7% during the 1st quarter. UMB Bank n.a. now owns 950 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 574 shares during the period. Quarry LP increased its holdings in Sonoco Products by 111.3% during the 4th quarter. Quarry LP now owns 970 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 511 shares during the period. Colonial Trust Co SC increased its holdings in Sonoco Products by 90.6% during the 4th quarter. Colonial Trust Co SC now owns 953 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 453 shares during the period. Finally, Allworth Financial LP increased its holdings in Sonoco Products by 152.0% during the 1st quarter. Allworth Financial LP now owns 1,071 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 646 shares during the period. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. UBS Group boosted their price target on Sonoco Products from $48.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Truist Financial boosted their price target on Sonoco Products from $53.00 to $58.00 and gave the company a “buy” rating in a report on Friday, July 25th. Raymond James Financial lifted their price objective on Sonoco Products from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Tuesday, July 15th. Jefferies Financial Group started coverage on Sonoco Products in a research report on Tuesday, April 22nd. They set a “buy” rating and a $62.00 price objective on the stock. Finally, Wells Fargo & Company raised Sonoco Products from an “underweight” rating to an “overweight” rating and lifted their price objective for the company from $45.00 to $55.00 in a research report on Friday, May 23rd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $57.63.

Sonoco Products Stock Up 1.1%

Shares of NYSE:SON opened at $44.74 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 0.72 and a debt-to-equity ratio of 1.53. Sonoco Products Company has a 12 month low of $39.46 and a 12 month high of $56.77. The company has a 50-day moving average price of $45.57 and a 200 day moving average price of $45.91. The company has a market cap of $4.41 billion, a price-to-earnings ratio of 8.02, a PEG ratio of 0.60 and a beta of 0.69.

Sonoco Products (NYSE:SON) last posted its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.07). Sonoco Products had a return on equity of 20.46% and a net margin of 8.35%. The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same period last year, the company earned $1.28 earnings per share. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. As a group, equities research analysts predict that Sonoco Products Company will post 6.1 earnings per share for the current year.

Sonoco Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.7%. Sonoco Products’s dividend payout ratio (DPR) is 37.99%.

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.