Sonora Investment Management Group LLC cut its position in Sonoco Products (NYSE:SON - Free Report) by 12.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,214 shares of the industrial products company's stock after selling 7,245 shares during the quarter. Sonora Investment Management Group LLC owned 0.05% of Sonoco Products worth $2,453,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Kennebec Savings Bank purchased a new stake in Sonoco Products during the third quarter worth about $27,000. Capital Performance Advisors LLP purchased a new stake in Sonoco Products during the 3rd quarter worth approximately $33,000. Wilmington Savings Fund Society FSB purchased a new stake in Sonoco Products during the 3rd quarter worth approximately $71,000. Albion Financial Group UT acquired a new stake in Sonoco Products during the 4th quarter worth approximately $84,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Sonoco Products by 821.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,879 shares of the industrial products company's stock worth $95,000 after acquiring an additional 1,675 shares in the last quarter. Hedge funds and other institutional investors own 77.69% of the company's stock.
Analyst Ratings Changes
A number of research firms recently issued reports on SON. 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 report on Monday, November 4th. Wells Fargo & Company decreased their price objective on Sonoco Products from $52.00 to $50.00 and set an "underweight" rating for the company in a research note on Monday, January 6th. Bank of America upped their target price on shares of Sonoco Products from $66.00 to $71.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Citigroup decreased 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 note on Monday, January 6th. Finally, Truist Financial increased their price objective on shares of Sonoco Products from $63.00 to $68.00 and gave the company a "buy" rating in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $60.17.
Read Our Latest Research Report on Sonoco Products
Sonoco Products Stock Up 0.4 %
SON stock traded up $0.17 during midday trading on Tuesday, reaching $47.82. 485,678 shares of the company were exchanged, compared to its average volume of 735,940. The stock's 50-day simple moving average is $49.33 and its 200 day simple moving average is $51.46. Sonoco Products has a 1-year low of $45.93 and a 1-year high of $61.73. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.91 and a current ratio of 2.36. The company has a market cap of $4.70 billion, a price-to-earnings ratio of 16.43, a price-to-earnings-growth ratio of 0.76 and a beta of 0.67.
Insider Activity
In related 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 transaction, 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 filing with the SEC, which is available through this link. Company insiders own 0.51% of the company's stock.
About Sonoco Products
(
Free Report)
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.
See Also
Before you consider Sonoco Products, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sonoco Products wasn't on the list.
While Sonoco Products currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat's analysts have just released their top five short plays for March 2025. Learn which stocks have the most short interest and how to trade them. Enter your email address to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
