GoalVest Advisory LLC Has $1.15 Million Holdings in Sonoco Products (NYSE:SON)

GoalVest Advisory LLC lifted its position in shares of Sonoco Products (NYSE:SON) by 7.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,901 shares of the industrial products company’s stock after purchasing an additional 1,336 shares during the quarter. GoalVest Advisory LLC’s holdings in Sonoco Products were worth $1,151,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of SON. Norges Bank acquired a new stake in shares of Sonoco Products during the 4th quarter worth approximately $62,387,000. FMR LLC grew its holdings in shares of Sonoco Products by 1,231.2% during the 3rd quarter. FMR LLC now owns 694,263 shares of the industrial products company’s stock worth $37,733,000 after purchasing an additional 642,109 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Sonoco Products by 20.2% during the 3rd quarter. American Century Companies Inc. now owns 2,787,019 shares of the industrial products company’s stock worth $151,474,000 after purchasing an additional 467,431 shares in the last quarter. Brown Advisory Inc. grew its holdings in shares of Sonoco Products by 105.0% during the 4th quarter. Brown Advisory Inc. now owns 724,637 shares of the industrial products company’s stock worth $40,485,000 after purchasing an additional 371,096 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in Sonoco Products by 30.8% in the 4th quarter. Sei Investments Co. now owns 1,275,530 shares of the industrial products company’s stock valued at $71,264,000 after buying an additional 300,697 shares in the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on SON shares. Wells Fargo & Company boosted their price target on Sonoco Products from $56.00 to $57.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Citigroup decreased their price target on Sonoco Products from $66.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. Finally, StockNews.com raised Sonoco Products from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Sonoco Products currently has a consensus rating of “Moderate Buy” and an average price target of $63.33.

Sonoco Products Price Performance

Sonoco Products stock traded down $1.35 on Tuesday, reaching $51.95. The company’s stock had a trading volume of 1,363,040 shares, compared to its average volume of 532,247. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.83 and a current ratio of 1.31. The company has a market cap of $5.10 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 2.12 and a beta of 0.72. The business’s fifty day moving average price is $58.31 and its 200 day moving average price is $57.37. Sonoco Products has a twelve month low of $49.98 and a twelve month high of $61.73.

Sonoco Products (NYSE:SON) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.07. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.67 billion. Sonoco Products had a return on equity of 20.79% and a net margin of 5.86%. The business’s revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.40 earnings per share. Equities analysts expect that Sonoco Products will post 5.19 earnings per share for the current fiscal year.

Sonoco Products Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.00%. This is an increase from Sonoco Products’s previous quarterly dividend of $0.51. Sonoco Products’s payout ratio is presently 52.53%.

Sonoco Products Profile

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.