9,565 Shares in Sonoco Products (NYSE:SON) Acquired by Bailard Inc.

Bailard Inc. acquired a new position in Sonoco Products (NYSE:SON - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 9,565 shares of the industrial products company's stock, valued at approximately $467,000.

Several other hedge funds have also recently bought and sold shares of SON. Private Management Group Inc. raised its stake in shares of Sonoco Products by 27.7% during the 4th quarter. Private Management Group Inc. now owns 584,390 shares of the industrial products company's stock worth $28,547,000 after purchasing an additional 126,867 shares in the last quarter. Quilter Plc raised its stake in shares of Sonoco Products by 3.1% during the 4th quarter. Quilter Plc now owns 299,178 shares of the industrial products company's stock worth $14,615,000 after purchasing an additional 8,895 shares in the last quarter. Synergy Asset Management LLC raised its stake in shares of Sonoco Products by 9.0% during the 4th quarter. Synergy Asset Management LLC now owns 66,754 shares of the industrial products company's stock worth $3,610,000 after purchasing an additional 5,505 shares in the last quarter. ING Groep NV raised its stake in shares of Sonoco Products by 579.8% during the 4th quarter. ING Groep NV now owns 144,800 shares of the industrial products company's stock worth $7,073,000 after purchasing an additional 123,500 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in shares of Sonoco Products by 312.1% during the 3rd quarter. Jane Street Group LLC now owns 185,351 shares of the industrial products company's stock worth $10,126,000 after purchasing an additional 140,370 shares in the last quarter. 77.69% of the stock is owned by hedge funds and other institutional investors.

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Sonoco Products Stock Performance

SON traded up $0.90 during midday trading on Friday, reaching $47.80. The company's stock had a trading volume of 652,987 shares, compared to its average volume of 820,334. The stock has a market cap of $4.70 billion, a P/E ratio of 28.97, a PEG ratio of 0.76 and a beta of 0.61. The company has a fifty day simple moving average of $47.59 and a 200 day simple moving average of $50.85. 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 has a twelve month low of $44.35 and a twelve month high of $61.73.

Sonoco Products (NYSE:SON - Get Free Report) last released its 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 business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.67 billion. Sonoco Products had a net margin of 2.60% and a return on equity of 20.81%. Research analysts expect that Sonoco Products will post 6.1 earnings per share for the current year.

Sonoco Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 26th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date of this dividend is Wednesday, February 26th. Sonoco Products's dividend payout ratio (DPR) is currently 126.06%.

Insider Buying and Selling at Sonoco Products

In other Sonoco Products news, Director Robert R. Hill, Jr. sold 4,000 shares of the firm'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 value of $191,800.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John R. Haley acquired 3,000 shares of Sonoco Products stock in a transaction on Thursday, February 27th. The stock was purchased at an average price of $46.76 per share, with a total value of $140,280.00. Following the transaction, the director now directly owns 18,558 shares in the company, valued at approximately $867,772.08. This trade 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.

Analysts Set New Price Targets

SON has been the subject of a number of recent research reports. Bank of America raised their price target on Sonoco Products from $66.00 to $71.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Citigroup cut their price target on Sonoco Products from $59.00 to $55.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Truist Financial lowered their price objective on Sonoco Products from $68.00 to $60.00 and set a "buy" rating on the stock in a report on Friday, February 21st. Wells Fargo & Company lowered their price objective on Sonoco Products from $50.00 to $48.00 and set an "underweight" rating on the stock in a report on Monday, February 24th. Finally, StockNews.com raised Sonoco Products from a "sell" rating to a "hold" rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $58.50.

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.