Private Management Group Inc. grew its stake in Sonoco Products (NYSE:SON - Free Report) by 27.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 584,390 shares of the industrial products company's stock after buying an additional 126,867 shares during the quarter. Private Management Group Inc. owned 0.59% of Sonoco Products worth $28,547,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in SON. Kennebec Savings Bank acquired a new stake in Sonoco Products in the 3rd quarter valued at $27,000. Capital Performance Advisors LLP purchased a new position in Sonoco Products in the 3rd quarter worth approximately $33,000. Wilmington Savings Fund Society FSB purchased a new position in Sonoco Products in the 3rd quarter worth approximately $71,000. Albion Financial Group UT purchased a new stake in Sonoco Products in the 4th quarter valued at $84,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of 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 purchasing an additional 1,675 shares during the period. Institutional investors and hedge funds own 77.69% of the company's stock.
Insider Transactions at Sonoco Products
In other news, Director Robert R. Hill, Jr. sold 4,000 shares of the business'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 in the company, valued at approximately $770,316.75. The trade was a 19.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.51% of the company's stock.
Analyst Upgrades and Downgrades
SON has been the topic of several research analyst reports. Wells Fargo & Company reduced their price objective on shares of Sonoco Products from $52.00 to $50.00 and set an "underweight" rating on the stock in a report on Monday, January 6th. Bank of America boosted 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. Citigroup dropped 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. 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. Finally, Truist Financial upped their price objective on Sonoco Products from $63.00 to $68.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $60.17.
Check Out Our Latest Report on SON
Sonoco Products Stock Down 1.6 %
Shares of SON stock traded down $0.77 on Friday, reaching $46.91. 568,272 shares of the stock were exchanged, compared to its average volume of 684,358. The company has a market capitalization of $4.61 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 0.76 and a beta of 0.67. The business's 50 day moving average price is $49.02 and its 200 day moving average price is $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. Sonoco Products has a twelve month low of $45.93 and a twelve month high of $61.73.
About Sonoco Products
(
Free Report)
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.
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