Y Intercept Hong Kong Ltd Has $958,000 Stake in Sonoco Products (NYSE:SON)

Y Intercept Hong Kong Ltd lowered its position in shares of Sonoco Products (NYSE:SON) by 54.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,543 shares of the industrial products company’s stock after selling 20,573 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Sonoco Products were worth $958,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in SON. Pacer Advisors Inc. increased its position 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 worth $100,441,000 after buying an additional 1,965,698 shares during the period. Private Management Group Inc. bought a new position in Sonoco Products during the third quarter worth about $24,994,000. Charles Schwab Investment Management Inc. raised its stake in Sonoco Products by 50.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,029,166 shares of the industrial products company’s stock worth $56,223,000 after purchasing an additional 344,658 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Sonoco Products by 11.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,631,259 shares of the industrial products company’s stock worth $133,465,000 after purchasing an additional 261,062 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Sonoco Products by 80.8% during the 2nd quarter. AQR Capital Management LLC now owns 555,575 shares of the industrial products company’s stock worth $28,179,000 after purchasing an additional 248,236 shares in the last quarter. 77.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SON has been the subject of a number of analyst reports. Citigroup lifted their price target on shares of Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Robert W. Baird dropped their price objective on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Truist Financial started coverage on Sonoco Products in a report on Tuesday, November 26th. They set a “buy” rating and a $63.00 target price on the stock. Finally, Wells Fargo & Company cut Sonoco Products from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $54.00 to $52.00 in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $59.00.

Sonoco Products Trading Up 0.2 %

Shares of SON stock opened at $52.14 on Friday. Sonoco Products has a fifty-two week low of $48.22 and a fifty-two week high of $61.73. The stock’s fifty day moving average price is $51.96 and its two-hundred day moving average price is $53.14. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.91 and a current ratio of 2.36. The company has a market cap of $5.12 billion, a PE ratio of 17.92, a P/E/G ratio of 2.14 and a beta of 0.67.

Sonoco Products (NYSE:SON) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.04. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.72 billion. Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. Sonoco Products’s revenue was down 2.0% compared to the same quarter last year. During the same period last year, the firm posted $1.46 earnings per share. Equities analysts predict that Sonoco Products will post 5.09 EPS for the current fiscal year.

Sonoco Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 8th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.99%. The ex-dividend date was Friday, November 8th. Sonoco Products’s payout ratio is 71.48%.

Sonoco Products 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.