50,102 Shares in Sonoco Products (NYSE:SON) Bought by AGF Management Ltd.

AGF Management Ltd. purchased a new stake in shares of Sonoco Products (NYSE:SON) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 50,102 shares of the industrial products company’s stock, valued at approximately $2,447,000.

A number of other large investors have also added to or reduced their stakes in SON. Arizona State Retirement System boosted its holdings in shares of Sonoco Products by 0.8% during the fourth quarter. Arizona State Retirement System now owns 28,516 shares of the industrial products company’s stock worth $1,393,000 after purchasing an additional 224 shares during the period. IFP Advisors Inc lifted its holdings in Sonoco Products by 3.6% in the 4th quarter. IFP Advisors Inc now owns 7,073 shares of the industrial products company’s stock worth $346,000 after buying an additional 243 shares during the period. Wedmont Private Capital grew its position in shares of Sonoco Products by 3.9% in the 4th quarter. Wedmont Private Capital now owns 6,652 shares of the industrial products company’s stock worth $306,000 after buying an additional 247 shares during the last quarter. Pallas Capital Advisors LLC increased its stake in shares of Sonoco Products by 6.4% during the fourth quarter. Pallas Capital Advisors LLC now owns 4,701 shares of the industrial products company’s stock valued at $230,000 after buying an additional 284 shares during the period. Finally, Park Avenue Securities LLC raised its holdings in shares of Sonoco Products by 2.2% during the fourth quarter. Park Avenue Securities LLC now owns 14,084 shares of the industrial products company’s stock valued at $688,000 after acquiring an additional 298 shares in the last quarter. Institutional investors own 77.69% of the company’s stock.

Sonoco Products Price Performance

Shares of SON opened at $44.65 on Friday. Sonoco Products has a fifty-two week low of $44.35 and a fifty-two week high of $61.73. The firm’s 50-day simple moving average is $47.43 and its two-hundred day simple moving average is $50.70. The stock has a market cap of $4.39 billion, a PE ratio of 27.06, a price-to-earnings-growth ratio of 0.76 and a beta of 0.61. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.91 and a current ratio of 0.79.

Sonoco Products (NYSE:SON) last posted its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.01). The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Sonoco Products had a return on equity of 20.81% and a net margin of 2.60%. Analysts anticipate that Sonoco Products will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 26th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.66%. The ex-dividend date was Wednesday, February 26th. Sonoco Products’s dividend payout ratio is presently 126.06%.

Insider Buying and Selling

In other Sonoco Products news, Director John R. Haley acquired 3,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average cost of $46.76 per share, with a total value of $140,280.00. Following the transaction, the director now owns 18,558 shares of the company’s stock, valued at $867,772.08. The trade was a 19.28 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert R. Hill, Jr. sold 4,000 shares of Sonoco Products stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $47.95, for a total value of $191,800.00. Following the completion of the sale, the director now directly owns 16,065 shares of the company’s stock, valued at approximately $770,316.75. The trade was a 19.94 % decrease in their position. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. StockNews.com upgraded shares of Sonoco Products from a “sell” rating to a “hold” rating in a report on Wednesday, March 5th. Truist Financial cut their target price on shares of Sonoco Products from $68.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Wells Fargo & Company decreased their price target on shares of Sonoco Products from $50.00 to $48.00 and set an “underweight” rating for the company in a research note on Monday, February 24th. Bank of America lifted their price objective on Sonoco Products from $66.00 to $71.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, Citigroup decreased their target price on Sonoco Products from $59.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Sonoco Products has an average rating of “Hold” and a consensus price target of $58.50.

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.