Oak Thistle LLC Has $1.03 Million Stake in Sonoco Products (NYSE:SON)

Oak Thistle LLC grew its stake in Sonoco Products (NYSE:SON) by 368.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,321 shares of the industrial products company’s stock after purchasing an additional 15,981 shares during the period. Sonoco Products makes up about 0.8% of Oak Thistle LLC’s portfolio, making the stock its 7th biggest position. Oak Thistle LLC’s holdings in Sonoco Products were worth $1,031,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of SON. Norges Bank bought a new stake in shares of Sonoco Products during the 4th quarter worth approximately $62,387,000. Brown Advisory Inc. lifted its stake in shares of Sonoco Products by 105.0% during the 4th quarter. Brown Advisory Inc. now owns 724,637 shares of the industrial products company’s stock worth $40,485,000 after acquiring an additional 371,096 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Sonoco Products by 30.8% during the 4th quarter. Sei Investments Co. now owns 1,275,530 shares of the industrial products company’s stock worth $71,264,000 after acquiring an additional 300,697 shares during the last quarter. Kingsview Wealth Management LLC bought a new stake in shares of Sonoco Products during the 1st quarter worth approximately $8,507,000. Finally, Earnest Partners LLC lifted its stake in shares of Sonoco Products by 5.3% during the 1st quarter. Earnest Partners LLC now owns 2,580,829 shares of the industrial products company’s stock worth $149,275,000 after acquiring an additional 131,012 shares during the last quarter. 77.69% of the stock is owned by institutional investors.

Sonoco Products Stock Down 0.4 %

Shares of NYSE:SON traded down $0.22 on Friday, reaching $55.02. The company had a trading volume of 506,261 shares, compared to its average volume of 679,727. Sonoco Products has a 52-week low of $54.28 and a 52-week high of $56.66. The firm’s 50 day simple moving average is $51.63 and its 200-day simple moving average is $55.49. The firm has a market capitalization of $5.41 billion, a PE ratio of 13.89, a PEG ratio of 2.11 and a beta of 0.68. The company has a current ratio of 1.30, a quick ratio of 0.85 and a debt-to-equity ratio of 1.04.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.02. Sonoco Products had a return on equity of 20.10% and a net margin of 5.57%. The business had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same period last year, the business posted $1.38 EPS. The business’s revenue was down 4.8% compared to the same quarter last year. As a group, analysts expect that Sonoco Products will post 5.09 earnings per share for the current fiscal year.

Sonoco Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 3.78%. Sonoco Products’s dividend payout ratio (DPR) is 52.53%.

Analysts Set New Price Targets

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 decreased their price target for the stock from $54.00 to $52.00 in a research note on Wednesday, August 21st. StockNews.com downgraded Sonoco Products from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 3rd. Citigroup reduced their price objective on Sonoco Products from $64.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Finally, Raymond James assumed coverage on Sonoco Products in a report on Friday, July 19th. They set an “outperform” rating and a $62.00 price objective on the stock. One research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Sonoco Products presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

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.