Insider Selling: Sonoco Products (NYSE:SON) Director Sells 4,000 Shares of Stock

Sonoco Products (NYSE:SON) Director Robert R. Hill, Jr. sold 4,000 shares of the business’s stock in a transaction dated 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 directly owns 16,065 shares in the company, valued at approximately $770,316.75. This represents a 19.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Sonoco Products Trading Down 2.8 %

Sonoco Products stock opened at $45.97 on Friday. The stock has a 50-day moving average price of $50.15 and a 200 day moving average price of $51.71. Sonoco Products has a 52 week low of $45.93 and a 52 week high of $61.73. The stock has a market cap of $4.52 billion, a PE ratio of 15.80, a P/E/G ratio of 2.14 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 (NYSE:SON) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates 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%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.46 earnings per share. Equities research analysts predict that Sonoco Products will post 5.09 earnings per share for the current fiscal year.

Sonoco Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.52%. The ex-dividend date was Friday, November 8th. Sonoco Products’s dividend payout ratio (DPR) is 71.48%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SON shares. Citigroup decreased their price target on Sonoco Products from $59.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Robert W. Baird decreased their target price on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. 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 report on Monday, January 6th. Truist Financial lifted their price target 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, Bank of America increased their price objective on shares of Sonoco Products from $66.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Sonoco Products has a consensus rating of “Moderate Buy” and an average target price of $60.17.

Hedge Funds Weigh In On Sonoco Products

Several institutional investors have recently added to or reduced their stakes in the business. Kennebec Savings Bank purchased a new stake in Sonoco Products in the 3rd quarter valued at about $27,000. Capital Performance Advisors LLP acquired a new position in Sonoco Products during the third quarter worth approximately $33,000. Abich Financial Wealth Management LLC purchased a new position in Sonoco Products during the second quarter worth approximately $50,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Sonoco Products in the 3rd quarter valued at $71,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Sonoco Products by 821.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,879 shares of the industrial products company’s stock valued at $95,000 after buying an additional 1,675 shares during the period. 77.69% of the stock is currently owned by institutional investors and hedge funds.

About Sonoco Products

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.