Edgestream Partners L.P. Has $7.49 Million Stock Holdings in Sonoco Products (NYSE:SON)

Edgestream Partners L.P. increased its holdings in shares of Sonoco Products (NYSE:SON - Free Report) by 422.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 153,350 shares of the industrial products company's stock after buying an additional 123,983 shares during the quarter. Edgestream Partners L.P. owned 0.16% of Sonoco Products worth $7,491,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in Sonoco Products during the fourth quarter valued at $6,012,000. Arizona State Retirement System boosted its position in Sonoco Products by 0.8% during the fourth quarter. Arizona State Retirement System now owns 28,516 shares of the industrial products company's stock valued at $1,393,000 after purchasing an additional 224 shares during the last quarter. M&T Bank Corp boosted its position in Sonoco Products by 4.4% during the fourth quarter. M&T Bank Corp now owns 46,662 shares of the industrial products company's stock valued at $2,280,000 after purchasing an additional 1,963 shares during the last quarter. Atria Investments Inc boosted its position in Sonoco Products by 5.4% during the fourth quarter. Atria Investments Inc now owns 29,952 shares of the industrial products company's stock valued at $1,463,000 after purchasing an additional 1,529 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Sonoco Products by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,044,620 shares of the industrial products company's stock valued at $51,030,000 after purchasing an additional 15,454 shares during the last quarter. Hedge funds and other institutional investors own 77.69% of the company's stock.

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Insider Activity at Sonoco Products

In other news, Director Robert R. Hill, Jr. sold 4,000 shares of the company'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 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 document filed with the SEC, which is accessible through this link. Also, Director John R. Haley acquired 3,000 shares of the stock in a transaction dated Thursday, February 27th. The stock was bought at an average price of $46.76 per share, for a total transaction of $140,280.00. Following the completion of the purchase, the director now 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. Corporate insiders own 0.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. StockNews.com raised Sonoco Products from a "sell" rating to a "hold" rating in a research report on Wednesday. Truist Financial reduced their price objective on Sonoco Products from $68.00 to $60.00 and set a "buy" rating for the company in a research report on Friday, February 21st. Citigroup reduced their price target 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. Bank of America boosted their price target on Sonoco Products from $66.00 to $71.00 and gave the stock a "buy" rating 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 for the company in a research report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $58.50.

Sonoco Products Stock Performance

Shares of Sonoco Products stock traded up $0.90 during 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 company has a debt-to-equity ratio of 2.18, a quick ratio of 1.91 and a current ratio of 0.79. The business's fifty day moving average price is $47.57 and its 200-day moving average price is $50.83. The firm has a market cap of $4.70 billion, a price-to-earnings ratio of 28.97, a price-to-earnings-growth ratio of 0.76 and a beta of 0.61. Sonoco Products has a one year low of $44.35 and a one year high of $61.73.

Sonoco Products (NYSE:SON - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $1.17 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 during the quarter, compared to the consensus estimate of $1.67 billion. As a group, equities research analysts predict 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 will be paid on Monday, March 10th. Investors of record on Wednesday, February 26th will be paid a dividend of $0.52 per share. The ex-dividend date is Wednesday, February 26th. This represents a $2.08 annualized dividend and a yield of 4.35%. Sonoco Products's dividend payout ratio is 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.