Teachers Advisors LLC Grows Stake in Sonoco (SON)

Teachers Advisors LLC grew its stake in shares of Sonoco (NYSE:SON) by 1.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 114,278 shares of the industrial products company’s stock after acquiring an additional 2,005 shares during the period. Teachers Advisors LLC owned about 0.11% of Sonoco worth $6,073,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH grew its position in shares of Sonoco by 743.7% during the 3rd quarter. Allianz Asset Management GmbH now owns 235,196 shares of the industrial products company’s stock valued at $11,865,000 after acquiring an additional 207,320 shares during the period. BlackRock Inc. grew its position in shares of Sonoco by 0.5% during the 4th quarter. BlackRock Inc. now owns 10,807,162 shares of the industrial products company’s stock valued at $574,293,000 after acquiring an additional 50,184 shares during the period. First Trust Advisors LP grew its position in shares of Sonoco by 12.3% during the 4th quarter. First Trust Advisors LP now owns 775,642 shares of the industrial products company’s stock valued at $41,218,000 after acquiring an additional 84,665 shares during the period. Capital Analysts LLC bought a new position in shares of Sonoco during the 4th quarter valued at approximately $7,752,000. Finally, California Public Employees Retirement System grew its position in shares of Sonoco by 3.4% during the 3rd quarter. California Public Employees Retirement System now owns 254,300 shares of the industrial products company’s stock valued at $12,829,000 after acquiring an additional 8,250 shares during the period. 70.78% of the stock is owned by hedge funds and other institutional investors.

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A number of research analysts have recently weighed in on the stock. TheStreet downgraded shares of Sonoco from a “b” rating to a “c+” rating in a research report on Friday, February 16th. Barclays raised shares of Sonoco from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $49.00 to $55.00 in a research report on Friday, December 15th. Zacks Investment Research downgraded shares of Sonoco from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. Bank of America cut shares of Sonoco from a “buy” rating to a “neutral” rating and set a $59.00 price target on the stock. in a research note on Monday, April 2nd. Finally, Vertical Research upgraded shares of Sonoco from a “hold” rating to a “buy” rating in a research note on Friday, March 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $53.71.

Shares of SON stock opened at $47.84 on Friday. The company has a market cap of $4,837.08, a P/E ratio of 17.15, a price-to-earnings-growth ratio of 3.25 and a beta of 1.12. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.09 and a current ratio of 1.56. Sonoco has a 12 month low of $46.55 and a 12 month high of $55.77.

Sonoco (NYSE:SON) last announced its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.72 EPS for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.01). The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Sonoco had a net margin of 3.48% and a return on equity of 16.63%. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 earnings per share. research analysts forecast that Sonoco will post 3.2 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Wednesday, February 28th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend was Tuesday, February 27th. Sonoco’s payout ratio is currently 55.91%.

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Sonoco Company Profile

Sonoco Products Company manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through four segments: Consumer Packaging, Display and Packaging, Paper and Industrial Converted Products, and Protective Solutions. The Consumer Packaging segment offers composite and thermoformed plastic round and shaped rigid containers and trays; extruded and injection-molded plastic products; printed flexible packaging products; brand artwork management; and metal and peelable membrane ends and closures.

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Institutional Ownership by Quarter for Sonoco (NYSE:SON)

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