Pacer Advisors Inc. Sells 7,524 Shares of Sonoco Products (NYSE:SON)

Pacer Advisors Inc. reduced its position in Sonoco Products (NYSE:SON - Free Report) by 33.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,651 shares of the industrial products company's stock after selling 7,524 shares during the quarter. Pacer Advisors Inc.'s holdings in Sonoco Products were worth $716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of SON. Algert Global LLC bought a new stake in Sonoco Products in the 2nd quarter valued at $502,000. Northwestern Mutual Wealth Management Co. increased its stake in Sonoco Products by 821.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,879 shares of the industrial products company's stock worth $95,000 after acquiring an additional 1,675 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Sonoco Products during the 2nd quarter worth approximately $717,000. Handelsbanken Fonder AB boosted its position in shares of Sonoco Products by 45.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 23,167 shares of the industrial products company's stock valued at $1,266,000 after acquiring an additional 7,200 shares during the last quarter. Finally, CWM LLC grew its holdings in shares of Sonoco Products by 111.6% in the third quarter. CWM LLC now owns 6,454 shares of the industrial products company's stock valued at $353,000 after purchasing an additional 3,404 shares in the last quarter. 77.69% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 transaction, the director now directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.51% of the company's stock.

Wall Street Analysts Forecast Growth

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

Sonoco Products Trading Down 1.6 %

Shares of SON stock traded down $0.77 on Friday, reaching $46.91. 568,272 shares of the company's stock were exchanged, compared to its average volume of 734,915. The company's fifty day simple moving average is $49.02 and its 200 day simple moving average is $51.35. Sonoco Products has a 52 week low of $45.93 and a 52 week high of $61.73. 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 stock has a market capitalization of $4.61 billion, a PE ratio of 16.12, a P/E/G ratio of 0.76 and a beta of 0.67.

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.