Atria Investments Inc Sells 454 Shares of Sonoco Products (NYSE:SON)

Atria Investments Inc cut its holdings in Sonoco Products (NYSE:SON) by 1.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,423 shares of the industrial products company’s stock after selling 454 shares during the quarter. Atria Investments Inc’s holdings in Sonoco Products were worth $1,553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Russell Investments Group Ltd. raised its position in shares of Sonoco Products by 49.3% in the 1st quarter. Russell Investments Group Ltd. now owns 123,974 shares of the industrial products company’s stock worth $7,171,000 after acquiring an additional 40,927 shares in the last quarter. AQR Capital Management LLC raised its position in Sonoco Products by 80.8% in the second quarter. AQR Capital Management LLC now owns 555,575 shares of the industrial products company’s stock worth $28,179,000 after acquiring an additional 248,236 shares during the period. Canada Pension Plan Investment Board bought a new stake in Sonoco Products during the second quarter valued at about $2,419,000. Bahl & Gaynor Inc. lifted its holdings in Sonoco Products by 8.7% during the first quarter. Bahl & Gaynor Inc. now owns 140,093 shares of the industrial products company’s stock valued at $8,103,000 after purchasing an additional 11,245 shares in the last quarter. Finally, Oak Thistle LLC raised its holdings in Sonoco Products by 368.2% during the second quarter. Oak Thistle LLC now owns 20,321 shares of the industrial products company’s stock valued at $1,031,000 after acquiring an additional 15,981 shares during the period. Institutional investors own 77.69% of the company’s stock.

Wall Street Analysts Forecast Growth

SON has been the subject of a number of research analyst reports. Wells Fargo & Company lowered Sonoco Products from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $54.00 to $52.00 in a research report on Wednesday, August 21st. Robert W. Baird reduced their target price on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Raymond James assumed coverage on Sonoco Products in a report on Friday, July 19th. They issued an “outperform” rating and a $62.00 target price for the company. Finally, Citigroup boosted 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $58.00.

Sonoco Products Trading Down 0.5 %

NYSE SON opened at $50.07 on Friday. The company has a fifty day simple moving average of $53.16 and a two-hundred day simple moving average of $54.17. Sonoco Products has a 12-month low of $48.22 and a 12-month high of $61.73. 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 stock has a market cap of $4.92 billion, a P/E ratio of 17.21, a P/E/G ratio of 2.09 and a beta of 0.69.

Sonoco Products (NYSE:SON) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.49 earnings per share 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 business earned $1.46 earnings per share. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, analysts forecast that Sonoco Products will post 5.1 earnings per share for the current year.

Sonoco Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.15%. 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.