First Affirmative Financial Network Has $217,000 Stock Holdings in Sonoco Products (NYSE:SON)

First Affirmative Financial Network lowered its position in shares of Sonoco Products (NYSE:SON) by 7.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,974 shares of the industrial products company’s stock after selling 306 shares during the quarter. First Affirmative Financial Network’s holdings in Sonoco Products were worth $217,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Richardson Financial Services Inc. bought a new position in shares of Sonoco Products during the fourth quarter valued at $177,000. SageView Advisory Group LLC lifted its stake in shares of Sonoco Products by 17.8% in the fourth quarter. SageView Advisory Group LLC now owns 13,088 shares of the industrial products company’s stock worth $765,000 after acquiring an additional 1,977 shares during the period. Quadrature Capital Ltd bought a new stake in Sonoco Products in the fourth quarter valued at approximately $969,000. Kapitalo Investimentos Ltda increased its position in Sonoco Products by 93.9% during the 4th quarter. Kapitalo Investimentos Ltda now owns 9,123 shares of the industrial products company’s stock valued at $510,000 after purchasing an additional 4,417 shares during the period. Finally, M&R Capital Management Inc. lifted its position in shares of Sonoco Products by 40.5% in the 1st quarter. M&R Capital Management Inc. now owns 1,298 shares of the industrial products company’s stock worth $75,000 after purchasing an additional 374 shares during the period. Institutional investors own 77.69% of the company’s stock.

Sonoco Products Trading Up 1.1 %

NYSE:SON opened at $54.20 on Friday. Sonoco Products has a 12 month low of $48.22 and a 12 month high of $61.73. The company has a current ratio of 1.30, a quick ratio of 0.85 and a debt-to-equity ratio of 1.04. The firm’s 50 day moving average is $53.25 and its 200 day moving average is $55.01. The stock has a market capitalization of $5.33 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 2.08 and a beta of 0.68.

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

Sonoco Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 3.84%. Sonoco Products’s dividend payout ratio is 55.91%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SON. Citigroup raised their price target 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 downgraded Sonoco Products from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $54.00 to $52.00 in a research note on Wednesday, August 21st. Raymond James started coverage on Sonoco Products in a research note on Friday, July 19th. They issued an “outperform” rating and a $62.00 price objective for the company. Finally, StockNews.com lowered Sonoco Products from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $59.00.

Sonoco Products Company 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.