Meadow Creek Wealth Advisors LLC Takes $11.67 Million Position in Sonoco Products (NYSE:SON)

Meadow Creek Wealth Advisors LLC bought a new position in shares of Sonoco Products (NYSE:SON - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 238,936 shares of the industrial products company's stock, valued at approximately $11,672,000. Sonoco Products makes up 8.4% of Meadow Creek Wealth Advisors LLC's investment portfolio, making the stock its biggest holding. Meadow Creek Wealth Advisors LLC owned approximately 0.24% of Sonoco Products at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in Sonoco Products by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,863,756 shares of the industrial products company's stock worth $101,842,000 after purchasing an additional 42,701 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Sonoco Products by 63.2% in the fourth quarter. Nordea Investment Management AB now owns 1,129,133 shares of the industrial products company's stock valued at $55,181,000 after buying an additional 437,128 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Sonoco Products by 50.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,029,166 shares of the industrial products company's stock valued at $56,223,000 after buying an additional 344,658 shares during the period. Private Management Group Inc. boosted its position in Sonoco Products by 27.7% during the fourth quarter. Private Management Group Inc. now owns 584,390 shares of the industrial products company's stock worth $28,547,000 after acquiring an additional 126,867 shares during the last quarter. Finally, FMR LLC grew its stake in Sonoco Products by 70.1% in the 3rd quarter. FMR LLC now owns 559,596 shares of the industrial products company's stock worth $30,571,000 after acquiring an additional 230,709 shares during the period. 77.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Sonoco Products Stock Down 1.6 %

Shares of SON traded down $0.77 during midday trading on Friday, reaching $46.91. 568,272 shares of the company were exchanged, compared to its average volume of 684,358. Sonoco Products has a 1-year low of $45.93 and a 1-year high of $61.73. The stock has a 50-day moving average price of $49.02 and a 200-day moving average price of $51.35. The company has a current ratio of 2.36, a quick ratio of 1.91 and a debt-to-equity ratio of 1.74. The company has a market cap of $4.61 billion, a price-to-earnings ratio of 16.12, a P/E/G ratio of 0.76 and a beta of 0.67.

Insider Buying and Selling at Sonoco Products

In other 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 shares were sold at an average price of $47.95, for a total transaction of $191,800.00. Following the completion of the sale, the director now owns 16,065 shares of the company's stock, valued at approximately $770,316.75. This trade represents a 19.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.51% of the stock is owned by corporate insiders.

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.