Trust Co of the South Acquires 1,658 Shares of Sonoco Products (NYSE:SON)

Trust Co of the South lifted its holdings in shares of Sonoco Products (NYSE:SON) by 11.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,248 shares of the industrial products company’s stock after acquiring an additional 1,658 shares during the period. Trust Co of the South’s holdings in Sonoco Products were worth $794,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SON. Mercer Global Advisors Inc. ADV grew its position in Sonoco Products by 2.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 8,862 shares of the industrial products company’s stock worth $445,000 after purchasing an additional 237 shares in the last quarter. Creative Financial Designs Inc. ADV grew its holdings in shares of Sonoco Products by 13.9% in the third quarter. Creative Financial Designs Inc. ADV now owns 2,373 shares of the industrial products company’s stock valued at $130,000 after acquiring an additional 289 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Sonoco Products by 1.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,765 shares of the industrial products company’s stock valued at $1,002,000 after acquiring an additional 298 shares during the last quarter. TD Asset Management Inc lifted its holdings in Sonoco Products by 2.0% during the second quarter. TD Asset Management Inc now owns 15,200 shares of the industrial products company’s stock worth $771,000 after acquiring an additional 300 shares during the period. Finally, Curi RMB Capital LLC boosted its position in Sonoco Products by 2.4% in the third quarter. Curi RMB Capital LLC now owns 12,979 shares of the industrial products company’s stock worth $709,000 after purchasing an additional 304 shares during the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Citigroup lifted their target price on Sonoco Products from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Truist Financial began coverage on shares of Sonoco Products in a research report on Tuesday, November 26th. They set a “buy” rating and a $63.00 target price for the company. Finally, Robert W. Baird reduced their price objective on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating for the company in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Sonoco Products currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.00.

Sonoco Products Stock Performance

Shares of NYSE:SON traded down $1.01 during midday trading on Thursday, reaching $47.84. 370,980 shares of the company traded hands, compared to its average volume of 625,042. The firm’s fifty day moving average price is $50.89 and its two-hundred day moving average price is $52.11. Sonoco Products has a 12 month low of $47.74 and a 12 month high of $61.73. The firm has a market capitalization of $4.70 billion, a price-to-earnings ratio of 16.44, a price-to-earnings-growth ratio of 2.14 and a beta of 0.67. The company has a quick ratio of 1.91, a current ratio of 2.36 and a debt-to-equity ratio of 1.74.

Sonoco Products (NYSE:SON) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.45 by $0.04. Sonoco Products had a net margin of 4.38% and a return on equity of 19.92%. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the company earned $1.46 earnings per share. Sonoco Products’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, equities analysts expect that Sonoco Products will post 5.09 earnings per share for the current year.

Sonoco Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.35%. Sonoco Products’s dividend payout ratio (DPR) is presently 71.48%.

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.