Synergy Asset Management LLC Increases Holdings in Sonoco Products (NYSE:SON)

Synergy Asset Management LLC boosted its stake in shares of Sonoco Products (NYSE:SON - Free Report) by 9.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 66,754 shares of the industrial products company's stock after purchasing an additional 5,505 shares during the period. Synergy Asset Management LLC owned about 0.07% of Sonoco Products worth $3,610,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Kennebec Savings Bank purchased a new position in Sonoco Products during the third quarter valued at $27,000. Capital Performance Advisors LLP bought a new stake in Sonoco Products during the third quarter valued at about $33,000. Wilmington Savings Fund Society FSB bought a new stake in Sonoco Products during the third quarter valued at about $71,000. Albion Financial Group UT bought a new stake in Sonoco Products during the fourth quarter valued at about $84,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Sonoco Products by 821.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,879 shares of the industrial products company's stock valued at $95,000 after acquiring an additional 1,675 shares during the period. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Sonoco Products news, Director Robert R. Hill, Jr. sold 4,000 shares of the business's stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $47.95, for a total transaction of $191,800.00. Following the completion of the transaction, the director now owns 16,065 shares in the company, valued at $770,316.75. The trade was a 19.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.51% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on SON. Citigroup decreased 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. Robert W. Baird decreased their price target on Sonoco Products from $58.00 to $55.00 and set a "neutral" rating on the stock in a report on Monday, November 4th. Wells Fargo & Company decreased their price target on Sonoco Products from $52.00 to $50.00 and set an "underweight" rating on the stock in a report on Monday, January 6th. Bank of America lifted their target price on Sonoco Products from $66.00 to $71.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Finally, Truist Financial lifted their target price on Sonoco Products from $63.00 to $68.00 and gave the stock a "buy" rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.17.

Sonoco Products Price Performance

Shares of SON stock traded up $0.02 during trading hours on Monday, hitting $47.66. The stock had a trading volume of 871,242 shares, compared to its average volume of 753,726. 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 current ratio of 2.36 and a quick ratio of 1.91. The stock's 50-day moving average price is $49.42 and its two-hundred day moving average price is $51.49. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 0.76 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, topping the consensus estimate of $1.45 by $0.04. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.72 billion. Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. The firm's revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the business posted $1.46 earnings per share. Equities analysts forecast that Sonoco Products will post 5.08 EPS for the current year.

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.