Jade Capital Advisors LLC Buys New Shares in Sonoco Products (NYSE:SON)

Jade Capital Advisors LLC acquired a new position in shares of Sonoco Products (NYSE:SON) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,000 shares of the industrial products company’s stock, valued at approximately $273,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Raymond James & Associates lifted its stake in Sonoco Products by 18.1% during the third quarter. Raymond James & Associates now owns 121,583 shares of the industrial products company’s stock worth $6,642,000 after purchasing an additional 18,648 shares during the period. Bfsg LLC acquired a new stake in Sonoco Products in the 3rd quarter valued at $205,000. B.O.S.S. Retirement Advisors LLC grew its position in Sonoco Products by 8.7% in the third quarter. B.O.S.S. Retirement Advisors LLC now owns 22,191 shares of the industrial products company’s stock valued at $1,212,000 after acquiring an additional 1,784 shares during the period. Creative Planning raised its stake in Sonoco Products by 4.3% during the third quarter. Creative Planning now owns 11,435 shares of the industrial products company’s stock worth $625,000 after acquiring an additional 473 shares in the last quarter. Finally, Novare Capital Management LLC bought a new position in shares of Sonoco Products during the third quarter valued at $213,000. 77.69% of the stock is currently owned by institutional investors.

Sonoco Products Price Performance

Shares of SON stock opened at $52.33 on Tuesday. The firm has a market cap of $5.14 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 2.06 and a beta of 0.68. Sonoco Products has a 12 month low of $48.22 and a 12 month high of $61.73. The company has a quick ratio of 0.85, a current ratio of 1.30 and a debt-to-equity ratio of 1.04. The stock has a 50-day moving average price of $53.71 and a 200 day moving average price of $54.87.

Sonoco Products (NYSE:SON) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.28 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 company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the previous year, the company earned $1.38 EPS. Sonoco Products’s revenue was down 4.8% on a year-over-year basis. Research analysts expect that Sonoco Products will post 5.08 EPS for the current year.

Sonoco Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders 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 3.97%. The ex-dividend date of this dividend is Friday, November 8th. Sonoco Products’s payout ratio is 52.53%.

Analyst Upgrades and Downgrades

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

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.