Thrivent Financial for Lutherans Has $5.30 Million Position in Sonoco Products (NYSE:SON)

Thrivent Financial for Lutherans lifted its holdings in Sonoco Products (NYSE:SON) by 305.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 97,024 shares of the industrial products company’s stock after buying an additional 73,099 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Sonoco Products were worth $5,300,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. AQR Capital Management LLC boosted its holdings in shares of 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 valued at $28,179,000 after buying an additional 248,236 shares during the period. Atria Investments Inc acquired a new position in Sonoco Products in the 1st quarter worth $1,626,000. Canada Pension Plan Investment Board bought a new position in Sonoco Products during the 2nd quarter worth about $2,419,000. Oak Thistle LLC raised its stake in shares of Sonoco Products by 368.2% in the 2nd quarter. Oak Thistle LLC now owns 20,321 shares of the industrial products company’s stock valued at $1,031,000 after purchasing an additional 15,981 shares during the period. Finally, Versor Investments LP acquired a new position in shares of Sonoco Products during the third quarter worth about $970,000. 77.69% of the stock is owned by institutional investors.

Sonoco Products Trading Up 1.5 %

NYSE SON opened at $50.92 on Friday. The company has a market cap of $5.00 billion, a PE ratio of 17.50, a PEG ratio of 2.06 and a beta of 0.69. Sonoco Products has a 12 month low of $48.22 and a 12 month high of $61.73. The stock has a 50 day moving average of $52.72 and a 200-day moving average of $53.92. The company has a current ratio of 2.36, a quick ratio of 1.91 and a debt-to-equity ratio of 1.74.

Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.04. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.72 billion. Sonoco Products had a net margin of 4.38% and a return on equity of 19.92%. The company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.46 EPS. On average, equities research analysts anticipate that Sonoco Products will post 5.1 EPS for the current fiscal year.

Sonoco Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be given a $0.52 dividend. The ex-dividend date is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.08%. Sonoco Products’s payout ratio is 71.48%.

Analyst Ratings Changes

SON has been the topic of a number of recent research reports. Citigroup lifted their target price on Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company lowered shares of Sonoco Products from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $54.00 to $52.00 in a research report on Wednesday, August 21st. Finally, Robert W. Baird decreased their target price on shares of Sonoco Products from $58.00 to $55.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $58.00.

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.