Sonoco Products (NYSE:SON) Position Boosted by GoalVest Advisory LLC

GoalVest Advisory LLC boosted its position in Sonoco Products (NYSE:SON) by 8.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 20,885 shares of the industrial products company’s stock after buying an additional 1,624 shares during the period. GoalVest Advisory LLC’s holdings in Sonoco Products were worth $1,141,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kennebec Savings Bank acquired a new position in shares of Sonoco Products in the 3rd quarter worth approximately $27,000. Capital Performance Advisors LLP bought a new stake in Sonoco Products during the third quarter valued at $33,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Sonoco Products during the first quarter worth $50,000. Abich Financial Wealth Management LLC bought a new position in shares of Sonoco Products in the 2nd quarter worth about $50,000. Finally, Gradient Investments LLC acquired a new position in shares of Sonoco Products in the 2nd quarter valued at about $58,000. Institutional investors and hedge funds own 77.69% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on SON. Robert W. Baird dropped their price objective on shares of Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Citigroup increased their price target on Sonoco Products from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company lowered Sonoco Products from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $54.00 to $52.00 in a research report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $58.00.

Sonoco Products Price Performance

NYSE SON opened at $50.07 on Friday. The company has a 50-day moving average price of $53.16 and a two-hundred day moving average price of $54.16. Sonoco Products has a 52 week low of $48.22 and a 52 week high of $61.73. The stock has a market cap of $4.92 billion, a price-to-earnings ratio of 17.21, a price-to-earnings-growth ratio of 2.06 and a beta of 0.69. The company has a current ratio of 2.36, a quick ratio of 1.91 and a debt-to-equity ratio of 1.74.

Sonoco Products (NYSE:SON) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period in the prior year, the company posted $1.46 EPS. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. Analysts forecast that Sonoco Products will post 5.1 EPS for the current year.

Sonoco Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date is Friday, November 8th. Sonoco Products’s dividend payout ratio is currently 71.48%.

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.