Lido Advisors LLC Raises Stock Position in Sonoco Products (NYSE:SON)

Lido Advisors LLC grew its holdings in Sonoco Products (NYSE:SON) by 27.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 36,220 shares of the industrial products company’s stock after acquiring an additional 7,760 shares during the period. Lido Advisors LLC’s holdings in Sonoco Products were worth $2,138,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Swiss National Bank grew its stake in shares of Sonoco Products by 1.3% in the 2nd quarter. Swiss National Bank now owns 213,300 shares of the industrial products company’s stock worth $12,589,000 after buying an additional 2,800 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Sonoco Products by 7.8% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 47,351 shares of the industrial products company’s stock worth $2,795,000 after buying an additional 3,431 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Sonoco Products by 3.5% in the 2nd quarter. Rhumbline Advisers now owns 310,988 shares of the industrial products company’s stock worth $18,355,000 after buying an additional 10,372 shares in the last quarter. Earnest Partners LLC boosted its stake in shares of Sonoco Products by 52.2% during the 2nd quarter. Earnest Partners LLC now owns 2,043,467 shares of the industrial products company’s stock worth $120,605,000 after purchasing an additional 700,414 shares during the period. Finally, Pinnacle Financial Partners Inc boosted its stake in shares of Sonoco Products by 3.7% during the 2nd quarter. Pinnacle Financial Partners Inc now owns 13,889 shares of the industrial products company’s stock worth $820,000 after purchasing an additional 500 shares during the period. 76.20% of the stock is owned by hedge funds and other institutional investors.

Sonoco Products Price Performance

Sonoco Products stock opened at $54.90 on Wednesday. The stock has a market cap of $5.38 billion, a price-to-earnings ratio of 11.07, a price-to-earnings-growth ratio of 2.01 and a beta of 0.71. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.89 and a quick ratio of 1.19. Sonoco Products has a 1 year low of $49.98 and a 1 year high of $63.74. The firm has a 50-day moving average of $53.65 and a two-hundred day moving average of $56.92.

Sonoco Products (NYSE:SON) last released its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.23. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Sonoco Products had a net margin of 7.20% and a return on equity of 24.40%. The firm’s quarterly revenue was down 9.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.60 EPS. On average, research analysts forecast that Sonoco Products will post 5.3 earnings per share for the current year.

Sonoco Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 10th will be given a $0.51 dividend. The ex-dividend date is Thursday, November 9th. This represents a $2.04 annualized dividend and a yield of 3.72%. Sonoco Products’s dividend payout ratio (DPR) is 41.13%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SON shares. StockNews.com cut shares of Sonoco Products from a “buy” rating to a “hold” rating in a research note on Monday. Argus cut shares of Sonoco Products from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Citigroup dropped their price target on shares of Sonoco Products from $69.00 to $65.00 in a research note on Tuesday, October 10th. Finally, Wells Fargo & Company dropped their price target on shares of Sonoco Products from $55.00 to $50.00 and set an “equal weight” rating for the company in a research note on Thursday, October 19th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Sonoco Products presently has an average rating of “Moderate Buy” and a consensus price target of $61.40.

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 through two segments: Consumer Packaging and Industrial Paper Packaging.