Sei Investments Co. Has $65.71 Million Position in Sonoco Products (NYSE:SON)

Sei Investments Co. raised its holdings in Sonoco Products (NYSE:SON - Free Report) by 3.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,345,054 shares of the industrial products company's stock after purchasing an additional 43,238 shares during the quarter. Sei Investments Co. owned approximately 1.37% of Sonoco Products worth $65,706,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of SON. Principal Securities Inc. raised its holdings in shares of Sonoco Products by 35.0% in the fourth quarter. Principal Securities Inc. now owns 1,355 shares of the industrial products company's stock valued at $66,000 after buying an additional 351 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Sonoco Products in the 3rd quarter valued at about $71,000. Albion Financial Group UT bought a new position in shares of Sonoco Products in the fourth quarter worth about $84,000. SRS Capital Advisors Inc. lifted its position in shares of Sonoco Products by 311.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,713 shares of the industrial products company's stock worth $84,000 after purchasing an additional 1,297 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Sonoco Products during the third quarter valued at approximately $111,000. Institutional investors and hedge funds own 77.69% of the company's stock.

Insider Activity

In other news, Director Robert R. Hill, Jr. sold 4,000 shares of the firm'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 sale, the director now owns 16,065 shares of the company's stock, valued at $770,316.75. This trade represents a 19.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John R. Haley bought 3,000 shares of the company's stock in a transaction on Thursday, February 27th. The shares were bought at an average price of $46.76 per share, for a total transaction of $140,280.00. Following the completion of the acquisition, the director now directly owns 18,558 shares in the company, valued at approximately $867,772.08. This trade represents a 19.28 % increase in their position. The disclosure for this purchase can be found here. 0.51% of the stock is owned by company insiders.

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Analyst Ratings Changes

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

Sonoco Products Trading Down 0.5 %

Shares of NYSE:SON traded down $0.24 during midday trading on Thursday, hitting $46.89. The company had a trading volume of 683,142 shares, compared to its average volume of 692,214. The company has a current ratio of 0.79, a quick ratio of 1.91 and a debt-to-equity ratio of 2.18. Sonoco Products has a 12 month low of $44.36 and a 12 month high of $61.73. The firm has a fifty day simple moving average of $47.35 and a 200 day simple moving average of $50.12. The stock has a market cap of $4.62 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 0.76 and a beta of 0.61.

Sonoco Products (NYSE:SON - Get Free Report) last posted its 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). The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.67 billion. Sonoco Products had a return on equity of 20.81% and a net margin of 2.60%. On average, analysts predict that Sonoco Products will post 6.1 EPS for the current year.

Sonoco Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 26th were given a dividend of $0.52 per share. The ex-dividend date was Wednesday, February 26th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.44%. Sonoco Products's dividend payout ratio is 126.06%.

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.