Sonoco Products (NYSE:SON) Shares Acquired by Cetera Advisors LLC

Cetera Advisors LLC grew its stake in Sonoco Products (NYSE:SON) by 2.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 118,430 shares of the industrial products company’s stock after buying an additional 2,308 shares during the period. Cetera Advisors LLC’s holdings in Sonoco Products were worth $6,990,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Winthrop Advisory Group LLC acquired a new stake in shares of Sonoco Products in the second quarter worth $246,000. New Mexico Educational Retirement Board lifted its holdings in shares of Sonoco Products by 15.7% in the 1st quarter. New Mexico Educational Retirement Board now owns 17,700 shares of the industrial products company’s stock valued at $1,080,000 after buying an additional 2,400 shares during the period. Meritage Portfolio Management lifted its holdings in shares of Sonoco Products by 4.8% in the 2nd quarter. Meritage Portfolio Management now owns 39,922 shares of the industrial products company’s stock valued at $2,356,000 after buying an additional 1,845 shares during the period. Foundry Partners LLC acquired a new stake in Sonoco Products during the second quarter worth about $3,123,000. Finally, Cerity Partners LLC raised its position in Sonoco Products by 6.5% during the first quarter. Cerity Partners LLC now owns 14,578 shares of the industrial products company’s stock valued at $871,000 after acquiring an additional 895 shares in the last quarter. 76.20% of the stock is currently owned by institutional investors and hedge funds.

Sonoco Products Stock Performance

NYSE:SON opened at $54.96 on Friday. The stock has a market capitalization of $5.38 billion, a PE ratio of 11.08, a P/E/G ratio of 2.09 and a beta of 0.71. Sonoco Products has a fifty-two week low of $49.98 and a fifty-two week high of $63.74. The company has a fifty day moving average of $53.66 and a two-hundred day moving average of $56.90. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.19 and a current ratio of 1.89.

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

Sonoco Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 10th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $2.04 dividend on an annualized basis and a yield of 3.71%. Sonoco Products’s payout ratio is presently 41.13%.

Wall Street Analysts Forecast Growth

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

Sonoco Products Company 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 through two segments: Consumer Packaging and Industrial Paper Packaging.