Cooper Creek Partners Management LLC Buys Shares of 1,600,888 Sonoco Products (NYSE:SON)

Cooper Creek Partners Management LLC acquired a new stake in Sonoco Products (NYSE:SON - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,600,888 shares of the industrial products company's stock, valued at approximately $78,203,000. Sonoco Products comprises about 2.4% of Cooper Creek Partners Management LLC's investment portfolio, making the stock its 15th biggest position. Cooper Creek Partners Management LLC owned approximately 1.63% of Sonoco Products as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of SON. Principal Securities Inc. grew its holdings in shares of 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 acquiring an additional 351 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Sonoco Products in the 3rd quarter valued at $71,000. Albion Financial Group UT bought a new stake in shares of Sonoco Products during the 4th quarter worth $84,000. SRS Capital Advisors Inc. boosted its holdings in shares of Sonoco Products by 311.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,713 shares of the industrial products company's stock worth $84,000 after buying an additional 1,297 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Sonoco Products by 33.8% during the 4th quarter. GAMMA Investing LLC now owns 3,158 shares of the industrial products company's stock worth $154,000 after purchasing an additional 798 shares during the last quarter. Institutional investors own 77.69% of the company's stock.

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Analyst Ratings Changes

A number of brokerages have recently commented on SON. Bank of America raised their price objective on shares of Sonoco Products from $66.00 to $71.00 and gave the company a "buy" rating in a research report on Monday, January 6th. StockNews.com upgraded Sonoco Products from a "sell" rating to a "hold" rating in a report on Wednesday, March 5th. Wells Fargo & Company cut their price objective on Sonoco Products from $50.00 to $48.00 and set an "underweight" rating on the stock in a research report on Monday, February 24th. Truist Financial decreased their price target on shares of Sonoco Products from $68.00 to $60.00 and set a "buy" rating for the company in a research note on Friday, February 21st. Finally, Citigroup lowered their price objective 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. One research 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's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $58.50.

Insider Buying and Selling

In other Sonoco Products news, Director John R. Haley acquired 3,000 shares of the company's stock in a transaction dated Thursday, February 27th. The shares were acquired at an average cost of $46.76 per share, with a total value of $140,280.00. Following the acquisition, the director now directly owns 18,558 shares of the company's stock, valued at approximately $867,772.08. The trade was a 19.28 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO R. Howard Coker purchased 20,000 shares of the business's stock in a transaction on Thursday, March 13th. The shares were bought at an average cost of $46.10 per share, for a total transaction of $922,000.00. Following the completion of the transaction, the chief executive officer now directly owns 482,365 shares in the company, valued at $22,237,026.50. This trade represents a 4.33 % increase in their position. The disclosure for this purchase can be found here. 0.74% of the stock is owned by company insiders.

Sonoco Products Trading Down 0.3 %

Shares of NYSE:SON traded down $0.13 during trading on Tuesday, reaching $44.00. The company's stock had a trading volume of 591,531 shares, compared to its average volume of 743,620. 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 firm's 50 day simple moving average is $46.12 and its two-hundred day simple moving average is $49.01. The stock has a market capitalization of $4.34 billion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 0.76 and a beta of 0.64. Sonoco Products has a 12 month low of $39.46 and a 12 month high of $61.73.

Sonoco Products (NYSE:SON - Get Free Report) last issued 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). Sonoco Products had a return on equity of 20.81% and a net margin of 2.60%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.67 billion. On average, research analysts predict that Sonoco Products will post 6.1 EPS for the current fiscal year.

Sonoco Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 26th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.73%. The ex-dividend date of this dividend was Wednesday, February 26th. Sonoco Products's dividend payout ratio is currently 126.06%.

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.