206,921 Shares in Sonoco Products (NYSE:SON) Purchased by Axa S.A.

Axa S.A. acquired a new position in shares of Sonoco Products (NYSE:SON) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 206,921 shares of the industrial products company’s stock, valued at approximately $10,108,000. Axa S.A. owned 0.21% of Sonoco Products at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SON. Quarry LP lifted its position in shares of Sonoco Products by 111.3% in the 4th quarter. Quarry LP now owns 970 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 511 shares in the last quarter. Principal Securities Inc. raised its stake in Sonoco Products by 35.0% during the 4th quarter. Principal Securities Inc. now owns 1,355 shares of the industrial products company’s stock valued at $66,000 after purchasing an additional 351 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Sonoco Products in the third quarter valued at $71,000. Albion Financial Group UT acquired a new stake in shares of Sonoco Products in the fourth quarter worth $84,000. Finally, SRS Capital Advisors Inc. raised its position in Sonoco Products by 311.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,713 shares of the industrial products company’s stock valued at $84,000 after buying an additional 1,297 shares during the period. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Sonoco Products Stock Up 0.5 %

SON stock opened at $44.93 on Tuesday. The firm has a market cap of $4.43 billion, a PE ratio of 27.23, a PEG ratio of 0.76 and a beta of 0.68. Sonoco Products has a 1 year low of $39.46 and a 1 year high of $61.73. The company has a fifty day simple moving average of $45.40 and a 200 day simple moving average of $48.08. The company has a current ratio of 0.79, a quick ratio of 1.91 and a debt-to-equity ratio of 2.18.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $1.38 earnings per share for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.03). The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $2.02 billion. Sonoco Products had a return on equity of 20.81% and a net margin of 2.60%. Sonoco Products’s quarterly revenue was up 30.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.12 EPS. Sell-side analysts anticipate that Sonoco Products will post 6.1 EPS for the current fiscal year.

Sonoco Products Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 4.72%. The ex-dividend date is Friday, May 9th. This is an increase from Sonoco Products’s previous quarterly dividend of $0.52. Sonoco Products’s dividend payout ratio (DPR) is 137.66%.

Insider Activity

In other Sonoco Products news, Director John R. Haley acquired 2,246 shares of the company’s stock in a transaction dated Friday, May 2nd. The shares were acquired at an average cost of $44.57 per share, for a total transaction of $100,104.22. Following the completion of the purchase, the director now owns 20,804 shares of the company’s stock, valued at approximately $927,234.28. This trade represents a 12.10 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert R. Hill, Jr. bought 5,475 shares of the firm’s stock in a transaction that occurred on Wednesday, April 30th. The shares were acquired at an average price of $40.34 per share, with a total value of $220,861.50. Following the purchase, the director now owns 29,540 shares in the company, valued at $1,191,643.60. This trade represents a 22.75 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 50,721 shares of company stock valued at $2,206,646 over the last 90 days. 0.74% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SON has been the subject of a number of research reports. Jefferies Financial Group began coverage on Sonoco Products in a research note on Tuesday, April 22nd. They set a “buy” rating and a $62.00 target price on the stock. StockNews.com lowered shares of Sonoco Products from a “hold” rating to a “sell” rating in a research note on Friday, April 25th. Bank of America lifted their target price on shares of Sonoco Products from $66.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Raymond James dropped their price target on shares of Sonoco Products from $54.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 22nd. Finally, Citigroup reduced their price objective on Sonoco Products from $59.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Sonoco Products presently has a consensus rating of “Hold” and a consensus target price of $56.43.

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.