Sonoco Products (NYSE:SON) Shares Bought by Amundi

Amundi lifted its position in Sonoco Products (NYSE:SON - Free Report) by 154.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 182,330 shares of the industrial products company's stock after purchasing an additional 110,810 shares during the quarter. Amundi owned about 0.19% of Sonoco Products worth $8,619,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SON. Principal Securities Inc. increased its position 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 worth $66,000 after purchasing an additional 351 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Sonoco Products during the 3rd quarter valued at about $71,000. Albion Financial Group UT purchased a new position in Sonoco Products in the fourth quarter worth about $84,000. SRS Capital Advisors Inc. increased its stake in Sonoco Products by 311.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,713 shares of the industrial products company's stock worth $84,000 after acquiring an additional 1,297 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Sonoco Products in the 3rd quarter valued at approximately $111,000. Hedge funds and other institutional investors own 77.69% of the company's stock.

Analyst Upgrades and Downgrades

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

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Sonoco Products Trading Up 0.5 %

Shares of NYSE SON traded up $0.25 during trading hours on Tuesday, reaching $47.42. The stock had a trading volume of 668,397 shares, compared to its average volume of 679,156. The business's fifty day moving average price is $47.31 and its two-hundred day moving average price is $50.49. The firm has a market cap of $4.66 billion, a price-to-earnings ratio of 28.74, a P/E/G ratio of 0.76 and a beta of 0.61. Sonoco Products has a 52-week low of $44.36 and a 52-week high of $61.73. The company has a current ratio of 0.79, a quick ratio of 1.91 and a debt-to-equity ratio of 2.18.

Sonoco Products (NYSE:SON - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.18 by ($0.01). The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.67 billion. Sonoco Products had a return on equity of 20.81% and a net margin of 2.60%. Analysts expect that Sonoco Products will post 6.1 EPS for the current fiscal year.

Sonoco Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 26th were given a $0.52 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $2.08 annualized dividend and a dividend yield of 4.39%. Sonoco Products's payout ratio is presently 126.06%.

Insider Activity

In other Sonoco Products news, Director Robert R. Hill, Jr. sold 4,000 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $47.95, for a total transaction of $191,800.00. Following the completion of the sale, the director now directly owns 16,065 shares of the company's stock, valued at approximately $770,316.75. This represents a 19.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John R. Haley purchased 3,000 shares of the stock in a transaction dated 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 acquisition, the director now directly owns 18,558 shares in the company, valued at approximately $867,772.08. This represents a 19.28 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.51% of the company's stock.

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.