Sonoco Products (NYSE:SON) Shares Bought by Quantbot Technologies LP

Quantbot Technologies LP lifted its holdings in Sonoco Products (NYSE:SON - Free Report) by 460.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,366 shares of the industrial products company's stock after buying an additional 9,339 shares during the quarter. Quantbot Technologies LP's holdings in Sonoco Products were worth $555,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Geode Capital Management LLC boosted its position in Sonoco Products by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,863,756 shares of the industrial products company's stock valued at $101,842,000 after buying an additional 42,701 shares during the period. Nordea Investment Management AB raised its stake in shares of Sonoco Products by 63.2% during 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 acquiring an additional 437,128 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Sonoco Products by 0.9% in the fourth quarter. Bank of New York Mellon Corp now owns 1,107,635 shares of the industrial products company's stock valued at $54,108,000 after purchasing an additional 9,899 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Sonoco Products by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,044,620 shares of the industrial products company's stock worth $51,030,000 after purchasing an additional 15,454 shares in the last quarter. Finally, Private Management Group Inc. increased its holdings in Sonoco Products by 27.7% during the 4th quarter. Private Management Group Inc. now owns 584,390 shares of the industrial products company's stock worth $28,547,000 after purchasing an additional 126,867 shares during the period. 77.69% of the stock is owned by institutional investors.

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Insider Transactions at Sonoco Products

In other news, CEO R. Howard Coker acquired 20,000 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were acquired at an average cost of $46.10 per share, with a total value of $922,000.00. Following the completion of the acquisition, the chief executive officer now owns 482,365 shares of the company's stock, valued at approximately $22,237,026.50. This trade represents a 4.33 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John R. Haley acquired 3,000 shares of Sonoco Products stock in a transaction dated Thursday, February 27th. The stock was purchased at an average price 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 approximately $867,772.08. The trade was a 19.28 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.74% of the company's stock.

Sonoco Products Stock Up 1.6 %

Shares of Sonoco Products stock traded up $0.73 on Tuesday, reaching $47.97. The stock had a trading volume of 753,075 shares, compared to its average volume of 720,770. The company has a quick ratio of 1.91, a current ratio of 0.79 and a debt-to-equity ratio of 2.18. The stock has a market capitalization of $4.73 billion, a P/E ratio of 29.08, a P/E/G ratio of 0.76 and a beta of 0.61. The company has a 50 day moving average price of $47.28 and a 200 day moving average price of $49.89. Sonoco Products has a 1 year low of $44.36 and a 1 year high of $61.73.

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

Sonoco Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 26th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.34%. Sonoco Products's payout ratio is 126.06%.

Analysts Set New Price Targets

Several brokerages have weighed in on SON. Bank of America upped their target price on Sonoco Products from $66.00 to $71.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Wells Fargo & Company dropped their target price on shares of Sonoco Products from $50.00 to $48.00 and set an "underweight" rating on the stock in a report on Monday, February 24th. StockNews.com upgraded shares of Sonoco Products from a "sell" rating to a "hold" rating in a report on Wednesday, March 5th. Citigroup lowered their price target 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. Finally, Truist Financial cut their price objective on shares of Sonoco Products from $68.00 to $60.00 and set a "buy" rating on the stock in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Sonoco Products presently has an average rating of "Hold" and an average target price of $58.50.

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.