Quest Partners LLC Boosts Stock Holdings in Sonoco Products (NYSE:SON)

Quest Partners LLC lifted its holdings in shares of Sonoco Products (NYSE:SON) by 179.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 57,467 shares of the industrial products company’s stock after acquiring an additional 36,900 shares during the quarter. Quest Partners LLC’s holdings in Sonoco Products were worth $3,139,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Kennebec Savings Bank bought a new stake in Sonoco Products during the 3rd quarter valued at $27,000. Capital Performance Advisors LLP bought a new stake in shares of Sonoco Products during the 3rd quarter valued at $33,000. Allspring Global Investments Holdings LLC purchased a new stake in Sonoco Products during the 1st quarter worth about $50,000. Abich Financial Wealth Management LLC bought a new position in Sonoco Products in the 2nd quarter worth about $50,000. Finally, Gradient Investments LLC purchased a new position in Sonoco Products during the 2nd quarter valued at about $58,000. 77.69% of the stock is owned by institutional investors.

Sonoco Products Stock Down 0.5 %

SON stock opened at $50.07 on Monday. Sonoco Products has a 1-year low of $48.22 and a 1-year 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. The company’s 50 day moving average is $53.16 and its 200 day moving average is $54.14.

Sonoco Products (NYSE:SON) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.49 EPS for the quarter, topping 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 firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the firm earned $1.46 EPS. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. Sell-side analysts predict that Sonoco Products will post 5.1 EPS for the current fiscal year.

Sonoco Products Dividend Announcement

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 paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.15%. The ex-dividend date is Friday, November 8th. Sonoco Products’s dividend payout ratio (DPR) is currently 71.48%.

Wall Street Analysts Forecast Growth

SON has been the topic of a number of recent analyst reports. Wells Fargo & Company downgraded shares of Sonoco Products from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $54.00 to $52.00 in a report on Wednesday, August 21st. Robert W. Baird lowered their target price 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. Finally, Citigroup boosted their price target on shares of Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $58.00.

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.