Financial Counselors Inc. Purchases 2,177 Shares of Sonoco Products (NYSE:SON)

Financial Counselors Inc. boosted its position in Sonoco Products (NYSE:SON) by 1.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 230,205 shares of the industrial products company’s stock after purchasing an additional 2,177 shares during the period. Financial Counselors Inc. owned approximately 0.23% of Sonoco Products worth $12,576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC lifted its stake in Sonoco Products by 80.8% in the second quarter. AQR Capital Management LLC now owns 555,575 shares of the industrial products company’s stock worth $28,179,000 after purchasing an additional 248,236 shares during the last quarter. Atria Investments Inc bought a new stake in shares of Sonoco Products during the first quarter valued at approximately $1,626,000. Canada Pension Plan Investment Board bought a new stake in shares of Sonoco Products during the second quarter valued at approximately $2,419,000. Oak Thistle LLC raised its stake in shares of Sonoco Products by 368.2% during the second quarter. Oak Thistle LLC now owns 20,321 shares of the industrial products company’s stock valued at $1,031,000 after acquiring an additional 15,981 shares in the last quarter. Finally, Versor Investments LP bought a new stake in shares of Sonoco Products during the third quarter valued at approximately $970,000. Institutional investors own 77.69% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on SON shares. Truist Financial started coverage on shares of Sonoco Products in a research note on Tuesday. They set a “buy” rating and a $63.00 price target for the company. Wells Fargo & Company downgraded shares of Sonoco Products from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $54.00 to $52.00 in a research note on Wednesday, August 21st. Robert W. Baird cut their price objective on shares of Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Finally, Citigroup lifted their price objective 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $59.00.

Sonoco Products Price Performance

Shares of SON opened at $51.31 on Friday. The firm has a market capitalization of $5.04 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 2.11 and a beta of 0.69. The company’s fifty day moving average price is $52.49 and its 200-day moving average price is $53.77. Sonoco Products has a 1-year low of $48.22 and a 1-year high of $61.73. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.36 and a quick ratio of 1.91.

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

Sonoco Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, November 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.05%. Sonoco Products’s dividend payout ratio (DPR) is presently 71.48%.

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.