AlphaCore Capital LLC Buys Shares of 7,285 Sonoco Products Company $SON

AlphaCore Capital LLC purchased a new stake in shares of Sonoco Products Company (NYSE:SON) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 7,285 shares of the industrial products company’s stock, valued at approximately $317,000.

Several other large investors also recently modified their holdings of SON. Dimensional Fund Advisors LP lifted its holdings in Sonoco Products by 14.4% in the first quarter. Dimensional Fund Advisors LP now owns 3,591,263 shares of the industrial products company’s stock valued at $169,646,000 after acquiring an additional 450,792 shares during the period. Nordea Investment Management AB increased its position in shares of Sonoco Products by 70.1% during the 2nd quarter. Nordea Investment Management AB now owns 2,827,569 shares of the industrial products company’s stock valued at $122,914,000 after purchasing an additional 1,164,849 shares during the last quarter. Earnest Partners LLC lifted its stake in shares of Sonoco Products by 2.3% in the 1st quarter. Earnest Partners LLC now owns 2,655,347 shares of the industrial products company’s stock worth $125,439,000 after purchasing an additional 60,746 shares during the period. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Sonoco Products by 9.8% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,308,939 shares of the industrial products company’s stock worth $109,074,000 after buying an additional 206,749 shares during the last quarter. Finally, Invesco Ltd. grew its position in Sonoco Products by 3.2% during the first quarter. Invesco Ltd. now owns 1,401,051 shares of the industrial products company’s stock valued at $66,186,000 after buying an additional 43,049 shares during the period. Institutional investors own 77.69% of the company’s stock.

Insider Activity at Sonoco Products

In other Sonoco Products news, CFO Paul Joachimczyk bought 20,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The stock was purchased at an average cost of $39.50 per share, with a total value of $809,750.00. Following the completion of the acquisition, the chief financial officer owned 20,500 shares in the company, valued at $809,750. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John R. Haley purchased 2,506 shares of Sonoco Products stock in a transaction that occurred on Tuesday, October 28th. The stock was acquired at an average price of $39.87 per share, for a total transaction of $99,914.22. Following the transaction, the director directly 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. Company insiders own 0.74% of the company’s stock.

Sonoco Products Price Performance

SON stock opened at $40.74 on Tuesday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.58 and a current ratio of 0.92. The company’s fifty day moving average price is $41.73 and its 200-day moving average price is $44.38. Sonoco Products Company has a one year low of $38.65 and a one year high of $52.77. The company has a market capitalization of $4.02 billion, a PE ratio of 6.47, a price-to-earnings-growth ratio of 0.73 and a beta of 0.67.

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

Sonoco Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Monday, November 10th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $2.12 dividend on an annualized basis and a yield of 5.2%. Sonoco Products’s dividend payout ratio is presently 33.65%.

Wall Street Analyst Weigh In

Several research firms have weighed in on SON. Weiss Ratings reiterated a “hold (c-)” rating on shares of Sonoco Products in a research report on Wednesday, October 8th. Bank of America reaffirmed a “neutral” rating and issued a $56.00 target price on shares of Sonoco Products in a report on Thursday, October 9th. Jefferies Financial Group cut their price target on Sonoco Products from $61.00 to $60.00 and set a “buy” rating for the company in a report on Friday, October 24th. Wells Fargo & Company raised their price objective on Sonoco Products from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Sonoco Products in a research note on Friday, October 17th. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Sonoco Products has an average rating of “Hold” and an average target price of $54.43.

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.