Sonoco Products (NYSE:SON) Shares Acquired by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC boosted its position in Sonoco Products (NYSE:SON - Free Report) by 17.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,340 shares of the industrial products company's stock after purchasing an additional 24,607 shares during the period. Kingsview Wealth Management LLC owned about 0.17% of Sonoco Products worth $8,272,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SON. Sumitomo Mitsui Trust Group Inc. raised its position in Sonoco Products by 40.1% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 16,970 shares of the industrial products company's stock worth $829,000 after acquiring an additional 4,860 shares during the last quarter. Centennial Wealth Advisory LLC raised its position in shares of Sonoco Products by 15.0% during the 4th quarter. Centennial Wealth Advisory LLC now owns 6,530 shares of the industrial products company's stock worth $319,000 after purchasing an additional 851 shares during the last quarter. Meadow Creek Wealth Advisors LLC purchased a new stake in Sonoco Products in the 4th quarter valued at approximately $11,672,000. Private Management Group Inc. lifted its stake in Sonoco Products by 27.7% in the 4th quarter. Private Management Group Inc. now owns 584,390 shares of the industrial products company's stock valued at $28,547,000 after buying an additional 126,867 shares in the last quarter. Finally, Trust Point Inc. grew its holdings in Sonoco Products by 70.6% during the 4th quarter. Trust Point Inc. now owns 10,003 shares of the industrial products company's stock valued at $489,000 after buying an additional 4,141 shares during the last quarter. 77.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SON has been the subject of a number of analyst reports. Robert W. Baird cut their price objective on shares of Sonoco Products from $58.00 to $55.00 and set a "neutral" rating for the company in a research report on Monday, November 4th. Wells Fargo & Company decreased their target price on Sonoco Products from $52.00 to $50.00 and set an "underweight" rating for the company in a report on Monday, January 6th. Truist Financial raised their price objective on Sonoco Products from $63.00 to $68.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Bank of America lifted their price target on shares of Sonoco Products from $66.00 to $71.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Finally, Citigroup decreased their price objective on shares of Sonoco Products from $59.00 to $55.00 and set a "buy" rating for the company in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $60.17.

Insider Buying and Selling at Sonoco Products

In other news, Director Robert R. Hill, Jr. sold 4,000 shares of the stock in a transaction 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 transaction, the director now 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 document filed with the SEC, which can be accessed through this link. 0.51% of the stock is currently owned by company insiders.

Sonoco Products Stock Performance

SON stock traded down $0.74 during mid-day trading on Wednesday, reaching $46.84. The company had a trading volume of 623,373 shares, compared to its average volume of 722,863. Sonoco Products has a one year low of $45.93 and a one year high of $61.73. The stock has a market capitalization of $4.60 billion, a P/E ratio of 16.10, a P/E/G ratio of 0.76 and a beta of 0.67. The company has a quick ratio of 1.91, a current ratio of 2.36 and a debt-to-equity ratio of 1.74. The stock's 50-day simple moving average is $48.83 and its two-hundred day simple moving average is $51.28.

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.