Sonoco Products (NYSE:SON) Shares Bought by Alliancebernstein L.P.

Alliancebernstein L.P. increased its holdings in shares of Sonoco Products (NYSE:SON - Free Report) by 9.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 171,055 shares of the industrial products company's stock after acquiring an additional 14,684 shares during the period. Alliancebernstein L.P. owned approximately 0.17% of Sonoco Products worth $8,356,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SON. Principal Securities Inc. boosted its stake in shares of Sonoco Products by 35.0% during the 4th quarter. Principal Securities Inc. now owns 1,355 shares of the industrial products company's stock worth $66,000 after acquiring an additional 351 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Sonoco Products during the third quarter worth $71,000. Albion Financial Group UT acquired a new stake in Sonoco Products in the fourth quarter valued at $84,000. SRS Capital Advisors Inc. increased its position in shares of Sonoco Products by 311.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,713 shares of the industrial products company's stock valued at $84,000 after buying an additional 1,297 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Sonoco Products by 33.8% during the 4th quarter. GAMMA Investing LLC now owns 3,158 shares of the industrial products company's stock worth $154,000 after buying an additional 798 shares during the last quarter. Hedge funds and other institutional investors own 77.69% of the company's stock.

Analyst Ratings Changes

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

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Insider Transactions at Sonoco Products

In other Sonoco Products news, Director John R. Haley acquired 3,000 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was bought at an average cost of $46.76 per share, for a total transaction of $140,280.00. Following the completion of the purchase, the director now directly owns 18,558 shares in the company, valued at $867,772.08. This represents a 19.28 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO R. Howard Coker bought 20,000 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $46.10 per share, for a total transaction of $922,000.00. Following the purchase, the chief executive officer now owns 482,365 shares in the company, valued at approximately $22,237,026.50. This trade represents a 4.33 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.74% of the company's stock.

Sonoco Products Trading Down 0.3 %

Shares of NYSE:SON traded down $0.13 during midday trading on Tuesday, reaching $44.00. The company's stock had a trading volume of 591,531 shares, compared to its average volume of 741,819. The firm has a market cap of $4.34 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 0.76 and a beta of 0.64. The business has a 50 day moving average price of $46.20 and a 200 day moving average price of $49.05. Sonoco Products has a 1 year low of $39.46 and a 1 year high of $61.73. The company has a quick ratio of 1.91, a current ratio of 0.79 and a debt-to-equity ratio of 2.18.

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

Sonoco Products Announces Dividend

The business also recently disclosed 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 was Wednesday, February 26th. This represents a $2.08 annualized dividend and a dividend yield of 4.73%. Sonoco Products's dividend payout ratio is presently 126.06%.

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.