SG Americas Securities LLC Has $5.54 Million Stock Holdings in Sonoco Products (NYSE:SON)

SG Americas Securities LLC lifted its stake in Sonoco Products (NYSE:SON) by 710.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 113,421 shares of the industrial products company’s stock after purchasing an additional 99,431 shares during the quarter. SG Americas Securities LLC’s holdings in Sonoco Products were worth $5,541,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV increased its position in shares of 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 worth $445,000 after acquiring an additional 237 shares in the last quarter. Wedmont Private Capital grew its position in Sonoco Products by 3.9% during the 4th quarter. Wedmont Private Capital now owns 6,652 shares of the industrial products company’s stock worth $306,000 after purchasing an additional 247 shares in the last quarter. Pallas Capital Advisors LLC lifted its holdings in shares of Sonoco Products by 6.4% in the fourth quarter. Pallas Capital Advisors LLC now owns 4,701 shares of the industrial products company’s stock valued at $230,000 after purchasing an additional 284 shares in the last quarter. Creative Financial Designs Inc. ADV grew its holdings in shares of Sonoco Products by 13.9% during the third quarter. Creative Financial Designs Inc. ADV now owns 2,373 shares of the industrial products company’s stock valued at $130,000 after buying an additional 289 shares in the last quarter. Finally, Park Avenue Securities LLC raised its position in Sonoco Products by 2.2% during the fourth quarter. Park Avenue Securities LLC now owns 14,084 shares of the industrial products company’s stock valued at $688,000 after buying an additional 298 shares during the period. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Insider Transactions at Sonoco Products

In other news, Director Robert R. Hill, Jr. sold 4,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $47.95, for a total value of $191,800.00. Following the sale, the director now owns 16,065 shares in the company, valued at approximately $770,316.75. This trade represents a 19.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.51% of the stock is currently owned by corporate insiders.

Sonoco Products Stock Down 0.4 %

Shares of SON stock opened at $48.44 on Friday. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 0.78 and a beta of 0.68. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.91 and a current ratio of 2.36. The stock’s 50 day simple moving average is $49.59 and its 200 day simple moving average is $51.55. Sonoco Products has a twelve month low of $45.93 and a twelve month high of $61.73.

Sonoco Products (NYSE:SON) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.04. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.72 billion. Sonoco Products had a net margin of 4.38% and a return on equity of 19.92%. Sonoco Products’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.46 EPS. As a group, research analysts predict that Sonoco Products will post 5.12 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.