Impact Partnership Wealth LLC Has $246,000 Stake in Sonoco Products (NYSE:SON)

Impact Partnership Wealth LLC boosted its holdings in Sonoco Products (NYSE:SON) by 7.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 4,506 shares of the industrial products company’s stock after acquiring an additional 323 shares during the period. Impact Partnership Wealth LLC’s holdings in Sonoco Products were worth $246,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of SON. Richardson Financial Services Inc. increased its holdings in Sonoco Products by 5.7% in the 1st quarter. Richardson Financial Services Inc. now owns 3,345 shares of the industrial products company’s stock valued at $193,000 after buying an additional 180 shares during the period. FinTrust Capital Advisors LLC increased its holdings in Sonoco Products by 78.8% in the 1st quarter. FinTrust Capital Advisors LLC now owns 490 shares of the industrial products company’s stock valued at $28,000 after buying an additional 216 shares during the period. Mercer Global Advisors Inc. ADV increased its holdings in Sonoco Products by 2.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 8,862 shares of the industrial products company’s stock valued at $445,000 after buying an additional 237 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Sonoco Products by 1.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,765 shares of the industrial products company’s stock valued at $1,002,000 after purchasing an additional 298 shares during the last quarter. Finally, TD Asset Management Inc grew its holdings in shares of Sonoco Products by 2.0% during the 2nd quarter. TD Asset Management Inc now owns 15,200 shares of the industrial products company’s stock valued at $771,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.

Sonoco Products Stock Up 0.7 %

Shares of NYSE SON opened at $53.08 on Friday. The company has a market capitalization of $5.22 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 2.20 and a beta of 0.68. Sonoco Products has a 52-week low of $48.22 and a 52-week high of $61.73. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.85 and a current ratio of 1.30. The company’s 50 day moving average price is $53.94 and its 200-day moving average price is $54.77.

Sonoco Products (NYSE:SON) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.02. The firm had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.69 billion. Sonoco Products had a net margin of 5.57% and a return on equity of 20.10%. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.38 EPS. Equities analysts forecast that Sonoco Products will post 5 earnings per share for the current year.

Sonoco Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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 dividend yield of 3.92%. Sonoco Products’s payout ratio is presently 55.91%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SON. Raymond James began coverage on shares of Sonoco Products in a report on Friday, July 19th. They set an “outperform” rating and a $62.00 price target on the stock. Citigroup boosted their target price on shares of Sonoco Products from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Wells Fargo & Company lowered shares of Sonoco Products from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $54.00 to $52.00 in a report on Wednesday, August 21st. Finally, StockNews.com lowered shares of Sonoco Products from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.00.

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.