Southeast Asset Advisors LLC Has $708,000 Stock Position in Sonoco Products Company $SON

Southeast Asset Advisors LLC raised its holdings in shares of Sonoco Products Company (NYSE:SON) by 26.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,259 shares of the industrial products company’s stock after purchasing an additional 3,375 shares during the period. Southeast Asset Advisors LLC’s holdings in Sonoco Products were worth $708,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the stock. ST Germain D J Co. Inc. acquired a new stake in shares of Sonoco Products in the 2nd quarter valued at approximately $26,000. TD Waterhouse Canada Inc. acquired a new stake in Sonoco Products in the 2nd quarter valued at approximately $30,000. SouthState Corp raised its holdings in shares of Sonoco Products by 439.1% in the second quarter. SouthState Corp now owns 1,240 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 1,010 shares during the last quarter. Hilltop National Bank bought a new stake in Sonoco Products during the 2nd quarter worth about $56,000. Finally, Quarry LP raised its holdings in Sonoco Products by 56.5% during the first quarter. Quarry LP now owns 1,518 shares of the industrial products company’s stock worth $72,000 after acquiring an additional 548 shares in the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.

Insider Buying and Selling

In other Sonoco Products news, CFO Paul Joachimczyk purchased 20,500 shares of the firm’s stock in a transaction on Wednesday, October 29th. The stock was acquired at an average price of $39.50 per share, for a total transaction of $809,750.00. Following the purchase, the chief financial officer owned 20,500 shares of the company’s stock, valued at $809,750. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John R. Haley acquired 2,506 shares of the company’s stock in a transaction on Tuesday, October 28th. The stock was acquired at an average cost of $39.87 per share, for a total transaction of $99,914.22. Following the completion of the purchase, the director directly owned 23,310 shares of the company’s stock, valued at approximately $929,369.70. This represents a 12.05% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.74% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on SON shares. Wells Fargo & Company increased their price target on shares of Sonoco Products from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Raymond James Financial reissued a “market perform” rating on shares of Sonoco Products in a report on Friday, October 17th. UBS Group cut their price target on Sonoco Products from $50.00 to $46.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. Zacks Research lowered shares of Sonoco Products from a “hold” rating to a “strong sell” rating in a report on Monday, October 27th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Sonoco Products in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $54.43.

Sonoco Products Stock Performance

NYSE:SON opened at $40.74 on Tuesday. The firm has a market capitalization of $4.02 billion, a P/E ratio of 6.47, a P/E/G ratio of 0.73 and a beta of 0.67. Sonoco Products Company has a twelve month low of $38.65 and a twelve month high of $52.77. The company has a fifty day moving average of $41.73 and a 200-day moving average of $44.38. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 1.14.

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

Sonoco Products Announces Dividend

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

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.