15,371 Shares in Sonoco Products Company $SON Purchased by Bridgefront Capital LLC

Bridgefront Capital LLC purchased a new stake in shares of Sonoco Products Company (NYSE:SON) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 15,371 shares of the industrial products company’s stock, valued at approximately $662,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp grew its position in shares of Sonoco Products by 0.3% in the 2nd quarter. State Street Corp now owns 4,470,449 shares of the industrial products company’s stock worth $194,733,000 after buying an additional 13,161 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Sonoco Products by 2.9% in the third quarter. Dimensional Fund Advisors LP now owns 3,721,421 shares of the industrial products company’s stock worth $160,353,000 after acquiring an additional 105,798 shares during the period. Bank of America Corp DE lifted its stake in Sonoco Products by 6.1% in the second quarter. Bank of America Corp DE now owns 2,804,621 shares of the industrial products company’s stock worth $122,169,000 after acquiring an additional 162,262 shares during the period. AQR Capital Management LLC boosted its holdings in Sonoco Products by 357.8% in the third quarter. AQR Capital Management LLC now owns 2,117,022 shares of the industrial products company’s stock valued at $90,693,000 after acquiring an additional 1,654,576 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in Sonoco Products by 4.0% in the third quarter. Sei Investments Co. now owns 1,455,299 shares of the industrial products company’s stock valued at $62,709,000 after acquiring an additional 56,418 shares in the last quarter. Institutional investors own 77.69% of the company’s stock.

Sonoco Products Stock Performance

Shares of Sonoco Products stock opened at $53.34 on Monday. Sonoco Products Company has a 12 month low of $38.65 and a 12 month high of $58.44. The firm has a market capitalization of $5.26 billion, a P/E ratio of 5.30, a P/E/G ratio of 1.07 and a beta of 0.50. The company has a current ratio of 1.05, a quick ratio of 0.60 and a debt-to-equity ratio of 1.04. The business has a fifty day simple moving average of $51.29 and a two-hundred day simple moving average of $45.72.

Sonoco Products (NYSE:SON) last released its earnings results on Tuesday, February 17th. The industrial products company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.04. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.76 billion. Sonoco Products had a net margin of 13.34% and a return on equity of 18.52%. The company’s revenue was up 29.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.17 EPS. On average, equities analysts forecast that Sonoco Products Company will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 25th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Wednesday, February 25th. Sonoco Products’s dividend payout ratio is 21.05%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Robert W. Baird upped their price objective on shares of Sonoco Products from $48.00 to $60.00 and gave the stock a “neutral” rating in a report on Wednesday, February 18th. Truist Financial reaffirmed a “buy” rating and set a $69.00 target price (up from $54.00) on shares of Sonoco Products in a research note on Friday, February 20th. Zacks Research upgraded shares of Sonoco Products from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Sonoco Products in a research note on Wednesday, January 21st. Finally, Wells Fargo & Company lifted their price objective on Sonoco Products from $47.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 18th. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $62.63.

Insider Buying and Selling at Sonoco Products

In other Sonoco Products news, insider Ernest D. Haynes III sold 1,581 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $56.39, for a total transaction of $89,152.59. Following the completion of the transaction, the insider owned 9,377 shares of the company’s stock, valued at approximately $528,769.03. This trade represents a 14.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.