Nicholson Wealth Management Group LLC Invests $353,000 in Sonoco Products (NYSE:SON)

Nicholson Wealth Management Group LLC acquired a new stake in shares of Sonoco Products (NYSE:SON) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 6,453 shares of the industrial products company’s stock, valued at approximately $353,000.

Other institutional investors also recently bought and sold shares of the company. Impact Partnership Wealth LLC boosted its position in Sonoco Products by 7.7% during the 3rd quarter. Impact Partnership Wealth LLC now owns 4,506 shares of the industrial products company’s stock valued at $246,000 after acquiring an additional 323 shares in the last quarter. International Assets Investment Management LLC boosted its position in Sonoco Products by 5,363.0% during the third quarter. International Assets Investment Management LLC now owns 13,275 shares of the industrial products company’s stock valued at $725,000 after purchasing an additional 13,032 shares in the last quarter. Community Trust & Investment Co. purchased a new position in Sonoco Products in the third quarter valued at about $917,000. Westhampton Capital LLC grew its stake in Sonoco Products by 35.8% in the third quarter. Westhampton Capital LLC now owns 36,532 shares of the industrial products company’s stock valued at $1,996,000 after purchasing an additional 9,630 shares during the last quarter. Finally, Jade Capital Advisors LLC bought a new position in Sonoco Products in the third quarter worth about $273,000. 77.69% of the stock is owned by hedge funds and other institutional investors.

Sonoco Products Stock Performance

SON opened at $53.08 on Friday. The company has a current ratio of 1.30, a quick ratio of 0.85 and a debt-to-equity ratio of 1.04. Sonoco Products has a 12-month low of $48.22 and a 12-month high of $61.73. The firm has a 50 day moving average of $53.94 and a two-hundred day moving average of $54.77. The firm has a market capitalization of $5.22 billion, a PE ratio of 14.27, a P/E/G ratio of 2.20 and a beta of 0.68.

Sonoco Products (NYSE:SON) last posted its earnings results 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. The company had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.69 billion. Sonoco Products had a net margin of 5.57% and a return on equity of 20.10%. The firm’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.38 earnings per share. On average, analysts anticipate that Sonoco Products will post 5 EPS for the current year.

Sonoco Products Announces Dividend

The business also recently declared 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. This represents a $2.08 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date of this dividend is Friday, November 8th. Sonoco Products’s payout ratio is presently 55.91%.

Analyst Upgrades and Downgrades

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