Los Angeles Capital Management LLC Acquires 10,710 Shares of Sonoco Products (NYSE:SON)

Los Angeles Capital Management LLC lifted its position in Sonoco Products (NYSE:SON - Free Report) by 271.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,655 shares of the industrial products company's stock after purchasing an additional 10,710 shares during the quarter. Los Angeles Capital Management LLC's holdings in Sonoco Products were worth $716,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Kennebec Savings Bank bought a new stake in Sonoco Products during the third quarter valued at approximately $27,000. Capital Performance Advisors LLP bought a new stake in shares of Sonoco Products during the 3rd quarter worth $33,000. Principal Securities Inc. grew 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 acquiring an additional 351 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Sonoco Products in the third quarter valued at $71,000. Finally, Albion Financial Group UT purchased a new stake in Sonoco Products during the fourth quarter valued at about $84,000. Hedge funds and other institutional investors own 77.69% of the company's stock.

Insider Buying and Selling at Sonoco Products

In related news, Director Robert R. Hill, Jr. sold 4,000 shares of the business's 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 transaction, the director now owns 16,065 shares in the company, valued at $770,316.75. The trade was a 19.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John R. Haley purchased 3,000 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average cost of $46.76 per share, with a total value of $140,280.00. Following the completion of the purchase, the director now owns 18,558 shares of the company's stock, valued at $867,772.08. This represents a 19.28 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.51% of the stock is currently owned by corporate insiders.

Sonoco Products Trading Down 1.1 %

Shares of NYSE:SON traded down $0.53 during trading on Monday, reaching $47.29. 834,699 shares of the company traded hands, compared to its average volume of 827,602. 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 52-week low of $44.35 and a 52-week high of $61.73. The firm has a market capitalization of $4.65 billion, a price-to-earnings ratio of 28.66, a P/E/G ratio of 0.76 and a beta of 0.67. The business's fifty day moving average is $47.81 and its 200-day moving average is $50.96.

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

Sonoco Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 26th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $2.08 dividend on an annualized basis and a yield of 4.40%. Sonoco Products's dividend payout ratio is presently 126.06%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SON shares. Citigroup cut their price objective on Sonoco Products from $59.00 to $55.00 and set a "buy" rating for the company in a report on Monday, January 6th. Truist Financial cut their target price on Sonoco Products from $68.00 to $60.00 and set a "buy" rating for the company in a research note on Friday, February 21st. Wells Fargo & Company decreased their price target on shares of Sonoco Products from $50.00 to $48.00 and set an "underweight" rating on the stock in a research note on Monday, February 24th. Bank of America upped their price objective on shares of Sonoco Products from $66.00 to $71.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Finally, Robert W. Baird reduced their target price on shares of Sonoco Products from $58.00 to $55.00 and set a "neutral" rating on the stock in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Sonoco Products currently has a consensus rating of "Hold" and an average price target of $58.50.

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.