Perigon Wealth Management LLC Invests $251,000 in Sonoco Products (NYSE:SON)

Perigon Wealth Management LLC acquired a new position in shares of Sonoco Products (NYSE:SON - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,268 shares of the industrial products company's stock, valued at approximately $251,000.

Other hedge funds also recently modified their holdings of the company. Kennebec Savings Bank bought a new position in shares of Sonoco Products in the 3rd quarter valued at about $27,000. Capital Performance Advisors LLP acquired a new stake in Sonoco Products in the 3rd quarter valued at about $33,000. Wilmington Savings Fund Society FSB bought a new position in Sonoco Products during the third quarter worth about $71,000. Albion Financial Group UT acquired a new position in Sonoco Products during the fourth quarter worth approximately $84,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Sonoco Products by 821.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,879 shares of the industrial products company's stock valued at $95,000 after buying an additional 1,675 shares during the period. Institutional investors own 77.69% of the company's stock.

Sonoco Products Stock Performance

Shares of NYSE:SON traded down $0.45 on Thursday, reaching $47.68. 652,582 shares of the company's stock were exchanged, compared to its average volume of 741,862. Sonoco Products has a twelve month low of $45.93 and a twelve month high of $61.73. The company has a fifty day moving average of $49.12 and a 200-day moving average of $51.39. The company has a market capitalization of $4.69 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 0.76 and a beta of 0.67. The company has a current ratio of 2.36, a quick ratio of 1.91 and a debt-to-equity ratio of 1.74.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Sonoco Products news, Director Robert R. Hill, Jr. sold 4,000 shares of the 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 sale, the director now directly owns 16,065 shares in the company, valued at $770,316.75. This represents a 19.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.51% of the stock is currently owned by company 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.