Rowlandmiller & PARTNERS.ADV Has $3.06 Million Stake in Sonoco Products (NYSE:SON)

Rowlandmiller & PARTNERS.ADV decreased its stake in shares of Sonoco Products (NYSE:SON) by 0.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 62,598 shares of the industrial products company’s stock after selling 411 shares during the period. Rowlandmiller & PARTNERS.ADV’s holdings in Sonoco Products were worth $3,058,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Access Investment Management LLC increased its holdings in shares of Sonoco Products by 2.3% during the 4th quarter. Access Investment Management LLC now owns 187,770 shares of the industrial products company’s stock valued at $9,173,000 after acquiring an additional 4,150 shares during the last quarter. ING Groep NV boosted its stake in Sonoco Products by 579.8% during the 4th quarter. ING Groep NV now owns 144,800 shares of the industrial products company’s stock valued at $7,073,000 after purchasing an additional 123,500 shares during the period. Concurrent Investment Advisors LLC boosted its stake in Sonoco Products by 11.6% during the 4th quarter. Concurrent Investment Advisors LLC now owns 4,571 shares of the industrial products company’s stock valued at $223,000 after purchasing an additional 475 shares during the period. Handelsbanken Fonder AB boosted its stake in Sonoco Products by 17.7% during the 4th quarter. Handelsbanken Fonder AB now owns 27,267 shares of the industrial products company’s stock valued at $1,332,000 after purchasing an additional 4,100 shares during the period. Finally, Ieq Capital LLC bought a new stake in Sonoco Products during the 4th quarter valued at approximately $1,933,000. Institutional investors and hedge funds own 77.69% of the company’s stock.

Insider Buying and Selling

In related news, Director Robert R. Hill, Jr. sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $47.95, for a total transaction of $191,800.00. Following the completion of the transaction, the director now owns 16,065 shares in the company, valued at $770,316.75. This trade represents a 19.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.51% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SON shares. Robert W. Baird decreased their target price on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. StockNews.com downgraded Sonoco Products from a “buy” rating to a “hold” rating in a research note on Thursday. Truist Financial decreased their target price on Sonoco Products from $68.00 to $60.00 and set a “buy” rating for the company in a research note on Friday. Bank of America increased their target price on Sonoco Products from $66.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Wells Fargo & Company reduced their price objective on Sonoco Products from $52.00 to $50.00 and set an “underweight” rating for the company in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $58.83.

Sonoco Products Price Performance

Sonoco Products stock opened at $46.88 on Monday. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.79 and a quick ratio of 1.91. The company has a market capitalization of $4.61 billion, a PE ratio of 28.41, a price-to-earnings-growth ratio of 0.76 and a beta of 0.67. Sonoco Products has a one year low of $44.35 and a one year high of $61.73. The business has a 50 day simple moving average of $48.12 and a 200 day simple moving average of $51.04.

Sonoco Products (NYSE:SON) last posted its earnings results on Tuesday, February 18th. The industrial products company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.01). The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.67 billion. Sonoco Products had a return on equity of 20.81% and a net margin of 2.60%. On average, sell-side analysts forecast that Sonoco Products will post 6.1 EPS for the current fiscal year.

Sonoco Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 26th will be given a dividend of $0.52 per share. The ex-dividend date is Wednesday, February 26th. This represents a $2.08 annualized dividend and a dividend yield of 4.44%. Sonoco Products’s dividend payout ratio (DPR) is presently 126.06%.

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.