16,779 Shares in Sonoco Products (NYSE:SON) Bought by Community Trust & Investment Co.

Community Trust & Investment Co. acquired a new position in shares of Sonoco Products (NYSE:SON) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 16,779 shares of the industrial products company’s stock, valued at approximately $917,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sei Investments Co. grew its position in Sonoco Products by 6.9% during the 1st quarter. Sei Investments Co. now owns 1,363,937 shares of the industrial products company’s stock worth $78,890,000 after acquiring an additional 88,407 shares during the last quarter. Russell Investments Group Ltd. grew its position in Sonoco Products by 49.3% during the 1st quarter. Russell Investments Group Ltd. now owns 123,974 shares of the industrial products company’s stock worth $7,171,000 after acquiring an additional 40,927 shares during the last quarter. Atria Investments Inc bought a new stake in shares of Sonoco Products in the 1st quarter valued at about $1,626,000. AQR Capital Management LLC grew its position in shares of Sonoco Products by 80.8% in the 2nd quarter. AQR Capital Management LLC now owns 555,575 shares of the industrial products company’s stock valued at $28,179,000 after buying an additional 248,236 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Sonoco Products in the 2nd quarter valued at about $2,419,000. Institutional investors own 77.69% of the company’s stock.

Sonoco Products Stock Up 0.3 %

Shares of NYSE:SON opened at $52.51 on Wednesday. The company has a market capitalization of $5.16 billion, a price-to-earnings ratio of 13.26, a P/E/G ratio of 2.06 and a beta of 0.68. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.30 and a quick ratio of 0.85. The business’s 50-day moving average is $53.77 and its 200-day moving average is $54.83. Sonoco Products has a 1 year low of $48.22 and a 1 year high of $61.73.

Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.02. The company had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.69 billion. Sonoco Products had a return on equity of 20.10% and a net margin of 5.57%. The firm’s revenue was down 4.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.38 EPS. Equities research analysts predict that Sonoco Products will post 5.08 earnings per share for the current year.

Sonoco Products Dividend Announcement

The company also recently declared 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. This represents a $2.08 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date is Friday, November 8th. Sonoco Products’s dividend payout ratio (DPR) is currently 52.53%.

Wall Street Analyst Weigh In

SON has been the topic of a number of analyst reports. StockNews.com lowered Sonoco Products from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 3rd. Wells Fargo & Company lowered Sonoco Products from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $54.00 to $52.00 in a research report on Wednesday, August 21st. Citigroup upped their price target on Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Finally, Raymond James began coverage on Sonoco Products in a research report on Friday, July 19th. They issued an “outperform” rating and a $62.00 price target on the stock. 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.com, Sonoco Products currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.00.

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.