Sonora Investment Management Group LLC Has $2.45 Million Position in Sonoco Products (NYSE:SON)

Sonora Investment Management Group LLC cut its holdings in shares of Sonoco Products (NYSE:SON) by 12.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,214 shares of the industrial products company’s stock after selling 7,245 shares during the period. Sonora Investment Management Group LLC’s holdings in Sonoco Products were worth $2,453,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SON. Jane Street Group LLC increased its holdings in Sonoco Products by 312.1% in the third quarter. Jane Street Group LLC now owns 185,351 shares of the industrial products company’s stock valued at $10,126,000 after purchasing an additional 140,370 shares during the period. Nordea Investment Management AB raised its holdings in shares of Sonoco Products by 63.2% during the fourth quarter. Nordea Investment Management AB now owns 1,129,133 shares of the industrial products company’s stock valued at $55,181,000 after purchasing an additional 437,128 shares during the period. Versor Investments LP acquired a new stake in shares of Sonoco Products in the 3rd quarter valued at about $970,000. Speece Thorson Capital Group Inc. increased its holdings in shares of Sonoco Products by 18.6% during the third quarter. Speece Thorson Capital Group Inc. now owns 305,971 shares of the industrial products company’s stock valued at $16,715,000 after acquiring an additional 47,928 shares in the last quarter. Finally, FMR LLC increased its stake in shares of Sonoco Products by 70.1% in the third quarter. FMR LLC now owns 559,596 shares of the industrial products company’s stock worth $30,571,000 after purchasing an additional 230,709 shares in the last quarter. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Sonoco Products Stock Up 0.2 %

Sonoco Products stock opened at $48.29 on Friday. The firm has a market cap of $4.74 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 0.77 and a beta of 0.68. The company has a current ratio of 2.36, a quick ratio of 1.91 and a debt-to-equity ratio of 1.74. Sonoco Products has a 12 month low of $45.93 and a 12 month high of $61.73. The stock has a fifty day simple moving average of $49.48 and a two-hundred day simple moving average of $51.52.

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. Sonoco Products had a net margin of 4.38% and a return on equity of 19.92%. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the previous year, the company earned $1.46 earnings per share. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. Equities analysts predict that Sonoco Products will post 5.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of Sonoco Products from $52.00 to $50.00 and set an “underweight” rating for the company in a research note on Monday, January 6th. Bank of America increased their target price on Sonoco Products from $66.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Citigroup reduced their price objective on Sonoco Products from $59.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Truist Financial upped their target price on Sonoco Products from $63.00 to $68.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Robert W. Baird lowered their price objective on shares of Sonoco Products from $58.00 to $55.00 and set a “neutral” rating for the company in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $60.17.

Insider Transactions at Sonoco Products

In related news, Director Robert R. Hill, Jr. sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $47.95, for a total transaction of $191,800.00. Following the completion of the transaction, the director now directly owns 16,065 shares in the company, valued at approximately $770,316.75. The trade was a 19.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.51% of the company’s stock.

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.