AIA Group Ltd Takes Position in Sonoco Products (NYSE:SON)

AIA Group Ltd acquired a new stake in shares of Sonoco Products (NYSE:SON) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,576 shares of the industrial products company’s stock, valued at approximately $312,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SON. Bruce G. Allen Investments LLC acquired a new stake in Sonoco Products during the 4th quarter worth approximately $28,000. Authentikos Wealth Advisory LLC acquired a new stake in Sonoco Products in the third quarter valued at approximately $34,000. Point72 Asset Management L.P. acquired a new stake in Sonoco Products in the second quarter valued at approximately $34,000. Dark Forest Capital Management LP acquired a new stake in Sonoco Products in the first quarter valued at approximately $50,000. Finally, M&R Capital Management Inc. grew its position in Sonoco Products by 298.3% in the fourth quarter. M&R Capital Management Inc. now owns 924 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 692 shares in the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. TheStreet downgraded shares of Sonoco Products from a “b-” rating to a “c+” rating in a research report on Wednesday, February 14th. Citigroup lowered their price objective on shares of Sonoco Products from $66.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, April 4th. Finally, Wells Fargo & Company lowered their price objective on shares of Sonoco Products from $58.00 to $56.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 20th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $63.00.

Insider Buying and Selling at Sonoco Products

In other news, VP Adam Wood sold 537 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $57.04, for a total transaction of $30,630.48. Following the completion of the transaction, the vice president now owns 28,273 shares of the company’s stock, valued at $1,612,691.92. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Russell K. Grissett sold 2,039 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $56.06, for a total transaction of $114,306.34. Following the completion of the transaction, the insider now owns 11,988 shares of the company’s stock, valued at $672,047.28. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Adam Wood sold 537 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $57.04, for a total transaction of $30,630.48. Following the transaction, the vice president now directly owns 28,273 shares of the company’s stock, valued at approximately $1,612,691.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,076 shares of company stock worth $749,002. 0.51% of the stock is owned by insiders.

Sonoco Products Stock Performance

Shares of SON opened at $57.11 on Friday. The business’s fifty day moving average price is $56.93 and its 200 day moving average price is $55.82. Sonoco Products has a 12-month low of $49.98 and a 12-month high of $63.74. The stock has a market capitalization of $5.60 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 2.14 and a beta of 0.68. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.76 and a quick ratio of 1.10.

Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Thursday, February 15th. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.02). Sonoco Products had a return on equity of 22.42% and a net margin of 7.00%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter last year, the business earned $1.27 earnings per share. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. Equities research analysts forecast that Sonoco Products will post 5.26 EPS for the current year.

Sonoco Products Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, May 9th. This is a boost from Sonoco Products’s previous quarterly dividend of $0.51. This represents a $2.08 annualized dividend and a yield of 3.64%. Sonoco Products’s dividend payout ratio (DPR) is 42.50%.

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.