Campbell & CO Investment Adviser LLC Has $2.15 Million Stake in Sonoco Products Company $SON

Campbell & CO Investment Adviser LLC raised its holdings in Sonoco Products Company (NYSE:SON) by 527.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,459 shares of the industrial products company’s stock after buying an additional 41,574 shares during the period. Campbell & CO Investment Adviser LLC owned about 0.05% of Sonoco Products worth $2,154,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Principal Financial Group Inc. raised its stake in shares of Sonoco Products by 0.5% during the 1st quarter. Principal Financial Group Inc. now owns 226,179 shares of the industrial products company’s stock worth $10,685,000 after purchasing an additional 1,044 shares during the period. OneDigital Investment Advisors LLC bought a new position in Sonoco Products in the 1st quarter worth approximately $232,000. Raymond James Financial Inc. grew its position in shares of Sonoco Products by 11.0% in the first quarter. Raymond James Financial Inc. now owns 136,553 shares of the industrial products company’s stock valued at $6,451,000 after purchasing an additional 13,479 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in Sonoco Products in the 1st quarter worth about $748,000. Finally, Millennium Management LLC lifted its holdings in shares of Sonoco Products by 739.7% in the first quarter. Millennium Management LLC now owns 1,152,506 shares of the industrial products company’s stock worth $54,444,000 after buying an additional 1,015,250 shares in the last quarter. Institutional investors own 77.69% of the company’s stock.

Insider Buying and Selling

In other Sonoco Products news, Director John R. Haley bought 2,506 shares of Sonoco Products stock in a transaction that occurred on Tuesday, October 28th. The shares were bought at an average price of $39.87 per share, with a total value of $99,914.22. Following the acquisition, the director owned 23,310 shares in the company, valued at approximately $929,369.70. This trade represents a 12.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Paul Joachimczyk bought 20,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 29th. The stock was acquired at an average price of $39.50 per share, for a total transaction of $809,750.00. Following the transaction, the chief financial officer owned 20,500 shares in the company, valued at $809,750. This trade represents a ? increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.74% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Sonoco Products in a report on Wednesday, October 8th. Raymond James Financial reaffirmed a “market perform” rating on shares of Sonoco Products in a report on Friday, October 17th. Wells Fargo & Company lifted their price objective on Sonoco Products from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Citigroup reduced their target price on Sonoco Products from $56.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, September 29th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $56.00 price target on shares of Sonoco Products in a report on Thursday, October 9th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $54.43.

Sonoco Products Stock Down 0.4%

SON opened at $40.52 on Tuesday. The business’s fifty day simple moving average is $42.93 and its 200 day simple moving average is $44.67. Sonoco Products Company has a 52 week low of $38.65 and a 52 week high of $52.77. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 1.14. The stock has a market cap of $4.00 billion, a PE ratio of 6.43, a P/E/G ratio of 0.73 and a beta of 0.67.

Sonoco Products (NYSE:SON) last issued its quarterly earnings results on Wednesday, June 22nd. The industrial products company reported $1.00 earnings per share (EPS) for the quarter. The firm had revenue of $1.35 billion during the quarter. Sonoco Products had a return on equity of 20.49% and a net margin of 8.82%. Sonoco Products has set its Q2 2022 guidance at $1.60-$1.70 EPS. As a group, research analysts expect that Sonoco Products Company will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date is Monday, November 10th. Sonoco Products’s dividend payout ratio (DPR) is presently 33.65%.

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.