Westhampton Capital LLC Has $2 Million Holdings in Sonoco Products (NYSE:SON)

Westhampton Capital LLC increased its position in shares of Sonoco Products (NYSE:SON) by 35.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,532 shares of the industrial products company’s stock after buying an additional 9,630 shares during the quarter. Westhampton Capital LLC’s holdings in Sonoco Products were worth $1,996,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Richardson Financial Services Inc. raised its position in Sonoco Products by 5.7% during the first quarter. Richardson Financial Services Inc. now owns 3,345 shares of the industrial products company’s stock worth $193,000 after acquiring an additional 180 shares in the last quarter. FinTrust Capital Advisors LLC boosted its position in shares of Sonoco Products by 78.8% during 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. Mercer Global Advisors Inc. ADV grew its position in Sonoco Products by 2.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 8,862 shares of the industrial products company’s stock valued at $445,000 after acquiring an additional 237 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Sonoco Products by 1.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,765 shares of the industrial products company’s stock worth $1,002,000 after buying an additional 298 shares in the last quarter. Finally, TD Asset Management Inc raised its position in Sonoco Products by 2.0% in the second quarter. TD Asset Management Inc now owns 15,200 shares of the industrial products company’s stock valued at $771,000 after purchasing an additional 300 shares during the last quarter. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SON shares. Raymond James started coverage on Sonoco Products in a research note on Friday, July 19th. They issued an “outperform” rating and a $62.00 price target for the company. Citigroup raised their price objective on Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company lowered shares of Sonoco Products from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $54.00 to $52.00 in a report on Wednesday, August 21st. Finally, StockNews.com lowered Sonoco Products from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $59.00.

Sonoco Products Trading Up 0.3 %

Shares of Sonoco Products stock opened at $52.51 on Wednesday. Sonoco Products has a 1 year low of $48.22 and a 1 year high of $61.73. The company has a 50 day simple moving average of $53.77 and a two-hundred day simple moving average of $54.83. The firm has a market cap of $5.16 billion, a PE ratio of 13.26, a PEG ratio of 2.06 and a beta of 0.68. 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 announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.02. Sonoco Products had a return on equity of 20.10% and a net margin of 5.57%. The firm had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same period last year, the firm earned $1.38 earnings per share. The company’s revenue for the quarter was down 4.8% compared to the same quarter last year. Analysts expect that Sonoco Products will post 5.08 earnings per share for the current fiscal year.

Sonoco Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 3.96%. Sonoco Products’s dividend payout ratio (DPR) is presently 52.53%.

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.