Sonoco Products Company $SON Shares Bought by Voya Investment Management LLC

Voya Investment Management LLC increased its stake in Sonoco Products Company (NYSE:SON) by 329.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 50,390 shares of the industrial products company’s stock after acquiring an additional 38,653 shares during the period. Voya Investment Management LLC owned approximately 0.05% of Sonoco Products worth $2,171,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of SON. Norges Bank purchased a new position in shares of Sonoco Products in the 2nd quarter worth $53,618,000. Nordea Investment Management AB lifted its stake in shares of Sonoco Products by 70.1% in the 2nd quarter. Nordea Investment Management AB now owns 2,827,569 shares of the industrial products company’s stock valued at $122,914,000 after purchasing an additional 1,164,849 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Sonoco Products by 739.7% during the 1st quarter. Millennium Management LLC now owns 1,152,506 shares of the industrial products company’s stock worth $54,444,000 after purchasing an additional 1,015,250 shares during the period. Balyasny Asset Management L.P. acquired a new stake in Sonoco Products during the 2nd quarter worth approximately $11,569,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Sonoco Products by 87.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 545,179 shares of the industrial products company’s stock valued at $25,754,000 after buying an additional 255,055 shares during the period. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Zacks Research downgraded shares of Sonoco Products from a “hold” rating to a “strong sell” rating in a research note on Monday, October 27th. UBS Group cut their price objective on Sonoco Products from $50.00 to $46.00 and set a “neutral” rating on the stock in a research report on Monday, October 6th. Raymond James Financial reissued a “market perform” rating on shares of Sonoco Products in a research report on Friday, October 17th. Citigroup decreased their price target on Sonoco Products from $56.00 to $55.00 and set a “buy” rating for the company in a report on Monday, September 29th. Finally, Jefferies Financial Group lowered their price objective on shares of Sonoco Products from $61.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, October 24th. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Sonoco Products currently has a consensus rating of “Hold” and an average target price of $54.43.

Sonoco Products Price Performance

SON opened at $43.51 on Monday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.58 and a current ratio of 0.92. Sonoco Products Company has a 1-year low of $38.65 and a 1-year high of $50.09. The company has a 50-day moving average of $41.34 and a 200-day moving average of $43.83. The company has a market capitalization of $4.29 billion, a P/E ratio of 6.91, a PEG ratio of 0.80 and a beta of 0.55.

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

Sonoco Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th were issued a $0.53 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $2.12 dividend on an annualized basis and a yield of 4.9%. Sonoco Products’s dividend payout ratio (DPR) is currently 33.65%.

Insider Transactions at Sonoco Products

In related news, Director John R. Haley bought 2,506 shares of the firm’s stock in a transaction on Tuesday, October 28th. The stock was bought at an average cost of $39.87 per share, for a total transaction of $99,914.22. Following the completion of the purchase, the director directly owned 23,310 shares in the company, valued at approximately $929,369.70. The trade was a 12.05% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Paul Joachimczyk purchased 20,500 shares of the company’s stock in a transaction dated Wednesday, October 29th. The shares were bought at an average price of $39.50 per share, for a total transaction of $809,750.00. Following the completion of the transaction, the chief financial officer directly owned 20,500 shares in the company, valued at approximately $809,750. This trade represents a ? increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.74% of the company’s stock.

Sonoco Products Company Profile

Sonoco Products Company (NYSE: SON) is a global provider of diversified packaging solutions, serving a wide range of consumer, industrial and retail markets. The company offers a broad portfolio that includes rigid paper and plastic containers, flexible packaging, industrial core and tube products, thermoformed plastics, retail point-of-purchase displays, and packaging supply chain services. Through its solutions, Sonoco helps customers in food and beverage, personal care, chemicals, healthcare, home and garden, and electronics industries address their packaging needs, improve product shelf appeal, and optimize logistics efficiency.

With operations in more than 30 countries across North America, South America, Europe, Asia and Africa, Sonoco leverages a global network of manufacturing facilities, recycling centers and distribution channels to meet the demands of multinational and regional customers.