Livforsakringsbolaget Skandia Omsesidigt Has $1.04 Million Stock Position in Sonoco Products (NYSE:SON)

Livforsakringsbolaget Skandia Omsesidigt trimmed its holdings in Sonoco Products (NYSE:SON - Free Report) by 26.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,300 shares of the industrial products company's stock after selling 7,600 shares during the period. Livforsakringsbolaget Skandia Omsesidigt's holdings in Sonoco Products were worth $1,040,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in Sonoco Products by 2.3% in the third quarter. Geode Capital Management LLC now owns 1,863,756 shares of the industrial products company's stock worth $101,842,000 after purchasing an additional 42,701 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Sonoco Products by 63.2% during the 4th quarter. Nordea Investment Management AB now owns 1,129,133 shares of the industrial products company's stock worth $55,181,000 after acquiring an additional 437,128 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Sonoco Products by 50.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,029,166 shares of the industrial products company's stock valued at $56,223,000 after acquiring an additional 344,658 shares during the last quarter. Private Management Group Inc. raised its stake in shares of Sonoco Products by 27.7% in the 4th quarter. Private Management Group Inc. now owns 584,390 shares of the industrial products company's stock valued at $28,547,000 after acquiring an additional 126,867 shares in the last quarter. Finally, FMR LLC lifted its holdings in Sonoco Products by 70.1% in the 3rd quarter. FMR LLC now owns 559,596 shares of the industrial products company's stock worth $30,571,000 after purchasing an additional 230,709 shares during the last quarter. Institutional investors and hedge funds own 77.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Citigroup lowered their price target on Sonoco Products from $59.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Bank of America lifted their target price on shares of 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 target on shares of Sonoco Products from $63.00 to $68.00 and gave the company a "buy" rating in a report on Monday, January 6th. Wells Fargo & Company dropped their price objective on Sonoco Products from $52.00 to $50.00 and set an "underweight" rating on the stock in a research note on Monday, January 6th. Finally, Robert W. Baird decreased their target price on Sonoco Products from $58.00 to $55.00 and set a "neutral" rating for the company in a research note on Monday, November 4th. 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 company's stock. According to data from MarketBeat.com, Sonoco Products presently has an average rating of "Moderate Buy" and an average price target of $60.17.

Insiders Place Their Bets

In other news, Director Robert R. Hill, Jr. sold 4,000 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $47.95, for a total value of $191,800.00. Following the completion of the transaction, the director now owns 16,065 shares in the company, valued at approximately $770,316.75. This represents a 19.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.51% of the company's stock.

Sonoco Products Stock Performance

Shares of NYSE SON traded up $0.26 during mid-day trading on Tuesday, hitting $47.62. The company had a trading volume of 596,836 shares, compared to its average volume of 726,549. Sonoco Products has a 12 month low of $45.93 and a 12 month high of $61.73. 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 firm has a market cap of $4.68 billion, a P/E ratio of 16.37, a PEG ratio of 0.76 and a beta of 0.67. The business's 50-day simple moving average is $48.83 and its 200-day simple moving average is $51.28.

Sonoco Products Company 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.