SG Americas Securities LLC Has $5.54 Million Stock Position in Sonoco Products (NYSE:SON)

SG Americas Securities LLC grew its holdings in Sonoco Products (NYSE:SON - Free Report) by 710.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 113,421 shares of the industrial products company's stock after buying an additional 99,431 shares during the period. SG Americas Securities LLC owned 0.12% of Sonoco Products worth $5,541,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Albion Financial Group UT acquired a new stake in Sonoco Products during the 4th quarter valued at $84,000. HB Wealth Management LLC lifted its stake in shares of Sonoco Products by 10.2% during the 4th quarter. HB Wealth Management LLC now owns 7,198 shares of the industrial products company's stock worth $352,000 after buying an additional 665 shares during the last quarter. Merit Financial Group LLC bought a new stake in shares of Sonoco Products during the 4th quarter worth about $298,000. Steph & Co. acquired a new position in Sonoco Products in the 4th quarter valued at about $263,000. Finally, Park Avenue Securities LLC raised its holdings in Sonoco Products by 2.2% in the 4th quarter. Park Avenue Securities LLC now owns 14,084 shares of the industrial products company's stock valued at $688,000 after acquiring an additional 298 shares during the period. 77.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Sonoco Products

In other Sonoco Products news, Director Robert R. Hill, Jr. sold 4,000 shares of the business's stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $47.95, for a total transaction of $191,800.00. Following the completion of the transaction, the director now owns 16,065 shares of the company's stock, valued at approximately $770,316.75. The trade was a 19.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.51% of the company's stock.

Sonoco Products Price Performance

SON stock traded down $0.17 during midday trading on Friday, reaching $48.44. The company had a trading volume of 513,736 shares, compared to its average volume of 602,184. 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 $49.59 and a 200-day moving average price of $51.55. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.36 and a quick ratio of 1.91. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of 16.65, a price-to-earnings-growth ratio of 0.78 and a beta of 0.68.

Sonoco Products (NYSE:SON - Get Free Report) last issued its earnings results on Thursday, October 31st. The industrial products company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.45 by $0.04. The company had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.72 billion. Sonoco Products had a net margin of 4.38% and a return on equity of 19.92%. The business's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.46 EPS. Equities research analysts expect that Sonoco Products will post 5.12 earnings per share for the current year.

About Sonoco Products

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.