Dimensional Fund Advisors LP increased its stake in Sonoco Products Company (NYSE:SON – Free Report) by 0.8% during the 1st quarter, Holdings Channel reports. The firm owned 3,931,180 shares of the industrial products company’s stock after purchasing an additional 32,810 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Sonoco Products were worth $212,632,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Sonoco Products by 44.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,093 shares of the industrial products company’s stock worth $2,319,000 after acquiring an additional 15,079 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Sonoco Products by 80.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 206,493 shares of the industrial products company’s stock worth $9,755,000 after buying an additional 92,286 shares during the last quarter. Empowered Funds LLC lifted its position in Sonoco Products by 14.1% in the 1st quarter. Empowered Funds LLC now owns 11,058 shares of the industrial products company’s stock worth $522,000 after buying an additional 1,364 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Sonoco Products by 87.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 545,179 shares of the industrial products company’s stock worth $25,754,000 after buying an additional 255,055 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Sonoco Products by 315.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,587 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 1,205 shares during the last quarter. 77.69% of the stock is owned by hedge funds and other institutional investors.
Sonoco Products Trading Up 3.5%
NYSE SON opened at $58.27 on Friday. The stock has a market cap of $5.76 billion, a P/E ratio of 9.26, a price-to-earnings-growth ratio of 1.22 and a beta of 0.37. Sonoco Products Company has a fifty-two week low of $38.65 and a fifty-two week high of $58.62. The stock has a 50 day simple moving average of $52.16 and a two-hundred day simple moving average of $52.01. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.54 and a current ratio of 0.99.
Sonoco Products Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 10th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, August 10th. Sonoco Products’s dividend payout ratio (DPR) is currently 34.34%.
Analysts Set New Price Targets
Several equities analysts recently commented on the stock. Truist Financial increased their target price on shares of Sonoco Products from $64.00 to $68.00 and gave the company a “buy” rating in a report on Friday. Bank of America upped their price target on shares of Sonoco Products from $65.00 to $69.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. UBS Group reduced their price objective on Sonoco Products from $62.00 to $59.00 and set a “neutral” rating on the stock in a research note on Friday, April 10th. Citigroup lifted their price objective on Sonoco Products from $63.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Finally, Argus upgraded Sonoco Products to a “hold” rating in a report on Monday, April 20th. Five equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $61.78.
View Our Latest Report on Sonoco Products
Insider Activity at Sonoco Products
In related news, insider James A. Harrell III bought 6,753 shares of the business’s stock in a transaction dated Monday, April 27th. The shares were purchased at an average price of $50.37 per share, with a total value of $340,148.61. Following the purchase, the insider owned 10,070 shares of the company’s stock, valued at approximately $507,225.90. This trade represents a 203.59% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.98% of the company’s stock.
About Sonoco Products
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.
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