Sonoco Products (NYSE:SON) Shares Sold by Rowlandmiller & PARTNERS.ADV

Rowlandmiller & PARTNERS.ADV trimmed its position in shares of Sonoco Products (NYSE:SON) by 0.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,009 shares of the industrial products company’s stock after selling 540 shares during the quarter. Rowlandmiller & PARTNERS.ADV’s holdings in Sonoco Products were worth $3,442,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Earnest Partners LLC boosted its holdings in Sonoco Products by 2.5% during the 2nd quarter. Earnest Partners LLC now owns 2,645,744 shares of the industrial products company’s stock valued at $134,192,000 after acquiring an additional 64,915 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Sonoco Products by 11.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,631,259 shares of the industrial products company’s stock valued at $133,465,000 after acquiring an additional 261,062 shares during the period. Victory Capital Management Inc. boosted its holdings in Sonoco Products by 2.4% during the 2nd quarter. Victory Capital Management Inc. now owns 2,195,155 shares of the industrial products company’s stock valued at $111,338,000 after acquiring an additional 50,577 shares during the period. Pacer Advisors Inc. boosted its holdings in Sonoco Products by 13,464.6% during the 2nd quarter. Pacer Advisors Inc. now owns 1,980,297 shares of the industrial products company’s stock valued at $100,441,000 after acquiring an additional 1,965,698 shares during the period. Finally, Sei Investments Co. boosted its holdings in Sonoco Products by 9.3% during the 2nd quarter. Sei Investments Co. now owns 1,490,580 shares of the industrial products company’s stock valued at $75,602,000 after acquiring an additional 126,643 shares during the period. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wells Fargo & Company cut Sonoco Products from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $54.00 to $52.00 in a report on Wednesday, August 21st. Raymond James assumed coverage on Sonoco Products in a research note on Friday, July 19th. They issued an “outperform” rating and a $62.00 price objective for the company. Citigroup lifted their price objective on Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Finally, StockNews.com cut Sonoco Products from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.00.

Sonoco Products Stock Performance

Shares of SON opened at $53.08 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.85 and a current ratio of 1.30. Sonoco Products has a 1 year low of $48.22 and a 1 year high of $61.73. The stock has a market capitalization of $5.22 billion, a PE ratio of 14.27, a PEG ratio of 2.20 and a beta of 0.68. The stock has a 50-day simple moving average of $53.94 and a 200-day simple moving average of $54.77.

Sonoco Products (NYSE:SON) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.02. Sonoco Products had a return on equity of 20.10% and a net margin of 5.57%. The business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter last year, the company earned $1.38 EPS. The business’s quarterly revenue was down 4.8% on a year-over-year basis. On average, analysts predict that Sonoco Products will post 5 earnings per share for the current fiscal year.

Sonoco Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.92%. The ex-dividend date is Friday, November 8th. Sonoco Products’s dividend payout ratio (DPR) is presently 55.91%.

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 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.