Wells Fargo & Company MN increased its holdings in shares of Sonoco Products Co (NYSE:SON) by 52.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 590,877 shares of the industrial products company’s stock after purchasing an additional 204,062 shares during the quarter. Wells Fargo & Company MN’s holdings in Sonoco Products were worth $36,356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Vanguard Group Inc lifted its holdings in Sonoco Products by 1.6% in the third quarter. Vanguard Group Inc now owns 9,461,054 shares of the industrial products company’s stock valued at $525,089,000 after buying an additional 149,108 shares during the period. Janney Montgomery Scott LLC lifted its holdings in Sonoco Products by 1.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 34,452 shares of the industrial products company’s stock valued at $1,830,000 after buying an additional 650 shares during the period. Chicago Equity Partners LLC acquired a new position in Sonoco Products in the fourth quarter valued at approximately $915,000. LSV Asset Management lifted its holdings in Sonoco Products by 33.3% in the fourth quarter. LSV Asset Management now owns 1,066,300 shares of the industrial products company’s stock valued at $56,652,000 after buying an additional 266,100 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its stake in Sonoco Products by 5,213.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,066,704 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 2,027,805 shares in the last quarter. 73.89% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:SON traded down $0.14 during trading hours on Friday, hitting $65.54. The stock had a trading volume of 1,574 shares, compared to its average volume of 316,974. Sonoco Products Co has a one year low of $50.30 and a one year high of $66.23. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.91 and a current ratio of 1.36. The company has a market capitalization of $6.58 billion, a PE ratio of 19.45, a PEG ratio of 3.93 and a beta of 0.96.

Sonoco Products (NYSE:SON) last issued its earnings results on Thursday, April 18th. The industrial products company reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.05. Sonoco Products had a net margin of 5.76% and a return on equity of 19.57%. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the prior year, the firm earned $0.74 earnings per share. The business’s quarterly revenue was up 3.6% on a year-over-year basis. On average, sell-side analysts forecast that Sonoco Products Co will post 3.58 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 2.62%. The ex-dividend date was Thursday, May 9th. This is an increase from Sonoco Products’s previous quarterly dividend of $0.41. Sonoco Products’s dividend payout ratio is presently 51.04%.

In other news, VP Roger P. Schrum sold 812 shares of the stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $62.25, for a total transaction of $50,547.00. Following the completion of the sale, the vice president now owns 7,938 shares of the company’s stock, valued at $494,140.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP R. Howard Coker sold 6,484 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $61.94, for a total transaction of $401,618.96. Following the sale, the senior vice president now directly owns 215,108 shares of the company’s stock, valued at approximately $13,323,789.52. The disclosure for this sale can be found here. Insiders have sold 12,381 shares of company stock valued at $758,537 in the last three months. 1.30% of the stock is owned by insiders.

Several equities research analysts have commented on SON shares. ValuEngine raised shares of Sonoco Products from a “hold” rating to a “buy” rating in a research note on Friday, June 7th. Argus raised shares of Sonoco Products from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research note on Wednesday, April 24th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Sonoco Products in a research note on Thursday, February 14th. KeyCorp reaffirmed a “hold” rating on shares of Sonoco Products in a research note on Thursday, February 14th. Finally, Vertical Research downgraded shares of Sonoco Products from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $59.40.

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Sonoco Products Profile

Sonoco Products Company manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through four segments: Consumer Packaging, Display and Packaging, Paper and Industrial Converted Products, and Protective Solutions. The Consumer Packaging segment offers composite and thermoformed plastic round and shaped rigid containers and trays; extruded and injection-molded plastic products; printed flexible packaging products; brand artwork management; and metal and peelable membrane ends and closures.

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Institutional Ownership by Quarter for Sonoco Products (NYSE:SON)

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