Jade Capital Advisors LLC Takes Position in Sonoco Products (NYSE:SON)

Jade Capital Advisors LLC purchased a new position in shares of Sonoco Products (NYSE:SON) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,000 shares of the industrial products company’s stock, valued at approximately $273,000.

Other large investors also recently bought and sold shares of the company. Earnest Partners LLC grew its stake in shares of 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 during the period. Dimensional Fund Advisors LP grew its position in Sonoco Products by 11.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,631,259 shares of the industrial products company’s stock worth $133,465,000 after acquiring an additional 261,062 shares during the period. Victory Capital Management Inc. increased its stake in 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 worth $111,338,000 after acquiring an additional 50,577 shares during the last quarter. Pacer Advisors Inc. raised its position in Sonoco Products by 13,464.6% in the second quarter. Pacer Advisors Inc. now owns 1,980,297 shares of the industrial products company’s stock valued at $100,441,000 after purchasing an additional 1,965,698 shares during the period. Finally, Sei Investments Co. lifted its stake 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 valued at $75,602,000 after purchasing an additional 126,643 shares during the last quarter. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SON. Wells Fargo & Company downgraded Sonoco Products from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $54.00 to $52.00 in a research report on Wednesday, August 21st. StockNews.com lowered shares of Sonoco Products from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 3rd. Citigroup lifted their target price on shares of Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Finally, 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. One investment analyst has rated the stock with a sell rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $59.00.

Sonoco Products Trading Down 1.2 %

NYSE:SON opened at $52.33 on Tuesday. The stock has a fifty day moving average price of $53.71 and a 200 day moving average price of $54.87. 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 has a 12-month low of $48.22 and a 12-month high of $61.73. The firm has a market cap of $5.14 billion, a PE ratio of 13.21, a price-to-earnings-growth ratio of 2.06 and a beta of 0.68.

Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.28 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.69 billion. During the same period in the previous year, the company posted $1.38 earnings per share. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. Sell-side analysts anticipate that Sonoco Products will post 5.08 earnings per share for the current fiscal year.

Sonoco Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.97%. Sonoco Products’s payout ratio is currently 52.53%.

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.