18,181 Shares in Sonoco Products Company $SON Purchased by WINTON GROUP Ltd

WINTON GROUP Ltd purchased a new stake in shares of Sonoco Products Company (NYSE:SON) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 18,181 shares of the industrial products company’s stock, valued at approximately $783,000.

Several other institutional investors have also added to or reduced their stakes in SON. Cornerstone Planning Group LLC bought a new position in shares of Sonoco Products during the 3rd quarter valued at approximately $29,000. TD Waterhouse Canada Inc. bought a new stake in Sonoco Products in the second quarter worth $30,000. True Wealth Design LLC increased its position in Sonoco Products by 172.5% in the third quarter. True Wealth Design LLC now owns 744 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 471 shares during the last quarter. Ameriflex Group Inc. raised its stake in Sonoco Products by 1,263.6% during the third quarter. Ameriflex Group Inc. now owns 900 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 834 shares in the last quarter. Finally, Clearstead Advisors LLC lifted its position in Sonoco Products by 258.7% during the third quarter. Clearstead Advisors LLC now owns 1,338 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 965 shares during the last quarter. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Truist Financial reissued a “buy” rating and issued a $69.00 price objective (up from $54.00) on shares of Sonoco Products in a research note on Friday, February 20th. Zacks Research raised shares of Sonoco Products from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. UBS Group lifted their price target on Sonoco Products from $48.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, February 19th. Raymond James Financial reissued a “market perform” rating on shares of Sonoco Products in a research note on Friday, March 6th. Finally, Wells Fargo & Company upped their price objective on Sonoco Products from $47.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 18th. Four analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Sonoco Products has an average rating of “Hold” and a consensus price target of $62.63.

Insider Transactions at Sonoco Products

In other Sonoco Products news, insider Ernest D. Haynes III sold 1,581 shares of the company’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $56.39, for a total value of $89,152.59. Following the transaction, the insider owned 9,377 shares of the company’s stock, valued at $528,769.03. This represents a 14.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.74% of the stock is currently owned by insiders.

Sonoco Products Trading Up 0.4%

Shares of SON stock traded up $0.22 during trading hours on Friday, reaching $52.96. 83,141 shares of the stock were exchanged, compared to its average volume of 1,012,384. The firm has a market capitalization of $5.22 billion, a price-to-earnings ratio of 5.25, a price-to-earnings-growth ratio of 1.07 and a beta of 0.51. Sonoco Products Company has a 12-month low of $38.65 and a 12-month high of $58.44. The company’s 50-day moving average price is $51.11 and its 200-day moving average price is $45.69. The company has a current ratio of 1.05, a quick ratio of 0.60 and a debt-to-equity ratio of 1.04.

Sonoco Products (NYSE:SON) last posted its quarterly earnings data on Tuesday, February 17th. The industrial products company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.04. Sonoco Products had a net margin of 13.34% and a return on equity of 18.52%. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period in the prior year, the company posted $1.17 EPS. The firm’s revenue for the quarter was up 29.7% on a year-over-year basis. As a group, equities analysts anticipate that Sonoco Products Company will post 6.1 earnings per share for the current year.

Sonoco Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Wednesday, February 25th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Wednesday, February 25th. Sonoco Products’s dividend payout ratio (DPR) is currently 21.05%.

About Sonoco Products

Sonoco Products Company (NYSE: SON) is a global provider of diversified packaging solutions, serving a wide range of consumer, industrial and retail markets. The company offers a broad portfolio that includes rigid paper and plastic containers, flexible packaging, industrial core and tube products, thermoformed plastics, retail point-of-purchase displays, and packaging supply chain services. Through its solutions, Sonoco helps customers in food and beverage, personal care, chemicals, healthcare, home and garden, and electronics industries address their packaging needs, improve product shelf appeal, and optimize logistics efficiency.

With operations in more than 30 countries across North America, South America, Europe, Asia and Africa, Sonoco leverages a global network of manufacturing facilities, recycling centers and distribution channels to meet the demands of multinational and regional customers.