Sonoco Products (NYSE:SON) Shares Purchased by Holocene Advisors LP

Holocene Advisors LP boosted its holdings in Sonoco Products (NYSE:SON) by 163.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,819 shares of the industrial products company’s stock after acquiring an additional 58,214 shares during the quarter. Holocene Advisors LP owned 0.10% of Sonoco Products worth $5,125,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV raised its holdings in shares of Sonoco Products by 2.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 8,862 shares of the industrial products company’s stock worth $445,000 after acquiring an additional 237 shares in the last quarter. Creative Financial Designs Inc. ADV raised its stake in shares of Sonoco Products by 13.9% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 2,373 shares of the industrial products company’s stock worth $130,000 after purchasing an additional 289 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Sonoco Products by 1.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,765 shares of the industrial products company’s stock valued at $1,002,000 after buying an additional 298 shares during the last quarter. TD Asset Management Inc grew its stake in shares of Sonoco Products by 2.0% in the 2nd quarter. TD Asset Management Inc now owns 15,200 shares of the industrial products company’s stock valued at $771,000 after buying an additional 300 shares in the last quarter. Finally, Curi RMB Capital LLC increased its holdings in Sonoco Products by 2.4% in the third quarter. Curi RMB Capital LLC now owns 12,979 shares of the industrial products company’s stock worth $709,000 after buying an additional 304 shares during the last quarter. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Sonoco Products Stock Down 0.5 %

SON stock opened at $51.91 on Thursday. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.36 and a quick ratio of 1.91. Sonoco Products has a 52-week low of $48.22 and a 52-week high of $61.73. The company has a 50-day moving average of $52.28 and a two-hundred day moving average of $53.49. The stock has a market capitalization of $5.10 billion, a price-to-earnings ratio of 17.84, a price-to-earnings-growth ratio of 2.15 and a beta of 0.67.

Sonoco Products (NYSE:SON) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $1.72 billion. During the same period in the prior year, the company earned $1.46 earnings per share. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Sonoco Products will post 5.09 EPS for the current year.

Sonoco Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders 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 yield of 4.01%. The ex-dividend date of this dividend is Friday, November 8th. Sonoco Products’s dividend payout ratio (DPR) is 71.48%.

Wall Street Analysts Forecast Growth

SON has been the subject of several recent research reports. Wells Fargo & Company lowered shares of Sonoco Products from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $54.00 to $52.00 in a research note on Wednesday, August 21st. Citigroup upped their price objective on shares of Sonoco Products from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Truist Financial assumed coverage on shares of Sonoco Products in a report on Tuesday, November 26th. They issued a “buy” rating and a $63.00 price objective for the company. Finally, Robert W. Baird decreased their price objective on shares of Sonoco Products from $58.00 to $55.00 and set a “neutral” rating for the company in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Sonoco Products has an average rating of “Moderate Buy” and a consensus price target 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.