Quest Partners LLC Has $3.14 Million Position in Sonoco Products (NYSE:SON)

Quest Partners LLC increased its stake in shares of Sonoco Products (NYSE:SON) by 179.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,467 shares of the industrial products company’s stock after acquiring an additional 36,900 shares during the quarter. Quest Partners LLC owned approximately 0.06% of Sonoco Products worth $3,139,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Earnest Partners LLC increased its position in Sonoco Products by 2.5% in the 2nd quarter. Earnest Partners LLC now owns 2,645,744 shares of the industrial products company’s stock valued at $134,192,000 after buying an additional 64,915 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Sonoco Products by 11.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,631,259 shares of the industrial products company’s stock valued at $133,465,000 after acquiring an additional 261,062 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Sonoco Products by 2.4% during the second quarter. Victory Capital Management Inc. now owns 2,195,155 shares of the industrial products company’s stock valued at $111,338,000 after acquiring an additional 50,577 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Sonoco Products by 13,464.6% during the second quarter. Pacer Advisors Inc. now owns 1,980,297 shares of the industrial products company’s stock worth $100,441,000 after purchasing an additional 1,965,698 shares during the period. Finally, Sei Investments Co. lifted its holdings in shares of Sonoco Products by 9.3% in the 2nd quarter. Sei Investments Co. now owns 1,490,580 shares of the industrial products company’s stock worth $75,602,000 after purchasing an additional 126,643 shares in the last quarter. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Citigroup upped their price objective 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. Robert W. Baird dropped their price target on shares of Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Finally, Wells Fargo & Company lowered Sonoco Products from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $54.00 to $52.00 in a report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Sonoco Products has a consensus rating of “Hold” and a consensus target price of $58.00.

Sonoco Products Stock Performance

NYSE SON opened at $50.07 on Monday. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.36 and a quick ratio of 1.91. The company has a fifty day moving average price of $53.16 and a 200-day moving average price of $54.14. Sonoco Products has a 1 year low of $48.22 and a 1 year high of $61.73. The firm has a market cap of $4.92 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 2.06 and a beta of 0.69.

Sonoco Products (NYSE:SON) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. Sonoco Products had a net margin of 4.38% and a return on equity of 19.92%. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the prior year, the firm posted $1.46 EPS. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, equities research analysts predict that Sonoco Products will post 5.1 EPS for the current fiscal year.

Sonoco Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.15%. Sonoco Products’s dividend payout ratio (DPR) is currently 71.48%.

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.