Steph & Co. Invests $263,000 in Sonoco Products (NYSE:SON)

Steph & Co. purchased a new position in Sonoco Products (NYSE:SON - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 5,384 shares of the industrial products company's stock, valued at approximately $263,000.

Other hedge funds have also made changes to their positions in the company. Oppenheimer Asset Management Inc. raised its stake in Sonoco Products by 41.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 28,323 shares of the industrial products company's stock valued at $1,437,000 after buying an additional 8,284 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Sonoco Products by 3.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 110,342 shares of the industrial products company's stock worth $5,597,000 after acquiring an additional 4,079 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Sonoco Products by 11.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,631,259 shares of the industrial products company's stock worth $133,465,000 after acquiring an additional 261,062 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Sonoco Products by 30.1% during the 2nd quarter. Renaissance Technologies LLC now owns 212,500 shares of the industrial products company's stock worth $10,778,000 after purchasing an additional 49,200 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new position in shares of Sonoco Products during the 2nd quarter worth approximately $3,494,000. Institutional investors and hedge funds own 77.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SON shares. Robert W. Baird cut their price target 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 target 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. Citigroup decreased their price objective on shares of 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 upped their target price on shares of Sonoco Products from $63.00 to $68.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Finally, Bank of America increased their price objective 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Sonoco Products currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.17.

Insider Buying and Selling at Sonoco Products

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 transaction of $191,800.00. Following the completion of the sale, the director now owns 16,065 shares of the company's stock, valued at $770,316.75. This represents a 19.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.51% of the company's stock.

Sonoco Products Stock Performance

Shares of NYSE:SON traded up $0.41 on Thursday, hitting $47.62. 517,091 shares of the company were exchanged, compared to its average volume of 746,509. The company's 50 day moving average price is $49.92 and its two-hundred day moving average price is $51.62. Sonoco Products has a one year low of $45.93 and a one 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 firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of 16.37, a PEG ratio of 0.72 and a beta of 0.68.

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

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.