Sei Investments Co. Increases Position in Sonoco Products (NYSE:SON)

Sei Investments Co. lifted its position in shares of Sonoco Products (NYSE:SON) by 3.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,345,054 shares of the industrial products company’s stock after purchasing an additional 43,238 shares during the period. Sei Investments Co.’s holdings in Sonoco Products were worth $65,706,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SON. Wilmington Savings Fund Society FSB purchased a new stake in Sonoco Products during the 3rd quarter worth about $71,000. Principal Securities Inc. boosted its holdings in Sonoco Products by 35.0% in the fourth quarter. Principal Securities Inc. now owns 1,355 shares of the industrial products company’s stock valued at $66,000 after purchasing an additional 351 shares in the last quarter. SRS Capital Advisors Inc. increased its stake in Sonoco Products by 311.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,713 shares of the industrial products company’s stock valued at $84,000 after purchasing an additional 1,297 shares during the last quarter. Albion Financial Group UT acquired a new stake in Sonoco Products during the fourth quarter worth approximately $84,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Sonoco Products during the 3rd quarter worth approximately $111,000. Institutional investors and hedge funds own 77.69% of the company’s stock.

Insider Activity at Sonoco Products

In other Sonoco Products news, Director John R. Haley acquired 3,000 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was purchased at an average price of $46.76 per share, for a total transaction of $140,280.00. Following the completion of the transaction, the director now owns 18,558 shares of the company’s stock, valued at $867,772.08. The trade was a 19.28 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert R. Hill, Jr. sold 4,000 shares of the business’s stock in a transaction 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 sale, the director now owns 16,065 shares in the company, valued at $770,316.75. The trade was a 19.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.51% of the stock is owned by insiders.

Sonoco Products Stock Down 2.4 %

Sonoco Products stock opened at $46.69 on Monday. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 28.30, a PEG ratio of 0.76 and a beta of 0.61. The company has a current ratio of 0.79, a quick ratio of 1.91 and a debt-to-equity ratio of 2.18. The stock has a 50 day moving average of $47.36 and a two-hundred day moving average of $50.26. Sonoco Products has a twelve month low of $44.36 and a twelve month high of $61.73.

Sonoco Products (NYSE:SON) last posted its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.01). The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Sonoco Products had a net margin of 2.60% and a return on equity of 20.81%. As a group, research analysts expect that Sonoco Products will post 6.1 earnings per share for the current year.

Sonoco Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Wednesday, February 26th were issued a dividend of $0.52 per share. The ex-dividend date was Wednesday, February 26th. This represents a $2.08 annualized dividend and a yield of 4.46%. Sonoco Products’s dividend payout ratio is currently 126.06%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SON shares. Bank of America lifted their price target on shares of Sonoco Products from $66.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Truist Financial cut their target price on Sonoco Products from $68.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Wells Fargo & Company dropped their price target on Sonoco Products from $50.00 to $48.00 and set an “underweight” rating on the stock in a research note on Monday, February 24th. StockNews.com upgraded Sonoco Products from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th. Finally, Citigroup lowered their target price on shares of Sonoco Products from $59.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $58.50.

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.