Sonoco Products (NYSE:SON) Shares Acquired by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Sonoco Products (NYSE:SON) by 24.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,900 shares of the industrial products company’s stock after purchasing an additional 5,700 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Sonoco Products were worth $1,579,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Rise Advisors LLC acquired a new stake in shares of Sonoco Products during the 1st quarter worth about $26,000. FinTrust Capital Advisors LLC lifted its position in shares of Sonoco Products by 78.8% during the 1st quarter. FinTrust Capital Advisors LLC now owns 490 shares of the industrial products company’s stock worth $28,000 after buying an additional 216 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Sonoco Products in the 1st quarter valued at $50,000. Abich Financial Wealth Management LLC purchased a new position in shares of Sonoco Products in the 2nd quarter valued at $50,000. Finally, Gradient Investments LLC acquired a new stake in Sonoco Products during the 2nd quarter worth $58,000. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Sonoco Products Trading Up 1.1 %

Shares of SON stock opened at $54.20 on Friday. The company has a market capitalization of $5.33 billion, a P/E ratio of 14.57, a price-to-earnings-growth ratio of 2.08 and a beta of 0.68. The company has a current ratio of 1.30, a quick ratio of 0.85 and a debt-to-equity ratio of 1.04. The business’s 50 day moving average is $53.25 and its two-hundred day moving average is $55.01. Sonoco Products has a twelve month low of $48.22 and a twelve month high of $61.73.

Sonoco Products (NYSE:SON) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.02. The firm had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.69 billion. Sonoco Products had a net margin of 5.57% and a return on equity of 20.10%. Sonoco Products’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period last year, the firm posted $1.38 EPS. Equities analysts forecast that Sonoco Products will post 5.09 EPS for the current year.

Sonoco Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date of this dividend was Friday, August 9th. Sonoco Products’s dividend payout ratio is presently 55.91%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SON shares. Citigroup upped their price objective on shares of Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Raymond James began coverage on Sonoco Products in a research report on Friday, July 19th. They set an “outperform” rating and a $62.00 price target on the stock. Wells Fargo & Company lowered shares of Sonoco Products from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $54.00 to $52.00 in a research report on Wednesday, August 21st. Finally, StockNews.com downgraded shares of Sonoco Products from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.00.

About Sonoco Products

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.