Brown Brothers Harriman & Co. Raises Position in Sonoco Products (NYSE:SON)

Brown Brothers Harriman & Co. grew its holdings in shares of Sonoco Products (NYSE:SON) by 1.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 228,976 shares of the industrial products company’s stock after acquiring an additional 4,210 shares during the period. Brown Brothers Harriman & Co.’s holdings in Sonoco Products were worth $11,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of SON. Rise Advisors LLC purchased a new stake in Sonoco Products in the first quarter worth about $26,000. FinTrust Capital Advisors LLC increased its holdings in Sonoco Products by 78.8% in the 1st quarter. FinTrust Capital Advisors LLC now owns 490 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 216 shares in the last quarter. Burkett Financial Services LLC bought a new stake in Sonoco Products during the 4th quarter worth approximately $30,000. TFO Wealth Partners LLC lifted its holdings in Sonoco Products by 12,183.3% during the fourth quarter. TFO Wealth Partners LLC now owns 737 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 731 shares in the last quarter. Finally, Parallel Advisors LLC boosted its position in shares of Sonoco Products by 154.6% in the fourth quarter. Parallel Advisors LLC now owns 881 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 535 shares during the period. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Sonoco Products Stock Performance

NYSE SON opened at $55.07 on Monday. The stock has a market capitalization of $5.41 billion, a PE ratio of 13.91, a P/E/G ratio of 2.11 and a beta of 0.68. Sonoco Products has a 1-year low of $52.76 and a 1-year high of $55.57. The business has a 50 day simple moving average of $52.12 and a two-hundred day simple moving average of $55.39. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.30 and a quick ratio of 0.85.

Sonoco Products (NYSE:SON) last released its earnings results on Wednesday, July 31st. The industrial products company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.02. Sonoco Products had a net margin of 5.57% and a return on equity of 20.10%. The firm had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same quarter last year, the business earned $1.38 EPS. The business’s revenue was down 4.8% on a year-over-year basis. On average, research analysts predict that Sonoco Products will post 5.09 EPS for the current fiscal year.

Sonoco Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 3.78%. Sonoco Products’s payout ratio is 52.53%.

Wall Street Analyst Weigh In

SON has been the topic of a number of analyst reports. Citigroup lowered their target price on shares of Sonoco Products from $64.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Wells Fargo & Company downgraded Sonoco Products from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $54.00 to $52.00 in a research report on Wednesday, August 21st. StockNews.com cut Sonoco Products from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 3rd. Finally, Raymond James assumed coverage on shares of Sonoco Products in a research note on Friday, July 19th. They set an “outperform” rating and a $62.00 target price for the company. One research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Sonoco Products presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.00.

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.