Sonoco Products (NYSE:SON) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its holdings in Sonoco Products (NYSE:SON - Free Report) by 91.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,455 shares of the industrial products company's stock after selling 1,231,076 shares during the quarter. Victory Capital Management Inc. owned approximately 0.12% of Sonoco Products worth $5,542,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SON. Janney Montgomery Scott LLC grew its position in shares of Sonoco Products by 2.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 18,333 shares of the industrial products company's stock worth $1,002,000 after buying an additional 507 shares during the period. State of New Jersey Common Pension Fund D grew its position in Sonoco Products by 12.1% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 37,111 shares of the industrial products company's stock valued at $2,027,000 after purchasing an additional 3,992 shares during the last quarter. Curi RMB Capital LLC grew its position in Sonoco Products by 2.4% during the 3rd quarter. Curi RMB Capital LLC now owns 12,979 shares of the industrial products company's stock valued at $709,000 after purchasing an additional 304 shares during the last quarter. ING Groep NV purchased a new stake in Sonoco Products during the 3rd quarter valued at about $1,164,000. Finally, OneDigital Investment Advisors LLC purchased a new stake in Sonoco Products during the 3rd quarter valued at about $210,000. 77.69% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling at Sonoco Products

In other Sonoco Products news, Director Robert R. Hill, Jr. sold 4,000 shares of Sonoco Products stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $47.95, for a total value of $191,800.00. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John R. Haley bought 3,000 shares of the business's stock in a transaction on Thursday, February 27th. The stock was bought at an average price of $46.76 per share, for a total transaction of $140,280.00. Following the purchase, the director now directly owns 18,558 shares of the company's stock, valued at $867,772.08. The trade was a 19.28 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.51% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on SON shares. Bank of America increased their price objective on shares of Sonoco Products from $66.00 to $71.00 and gave the company a "buy" rating in a research report on Monday, January 6th. StockNews.com upgraded shares of Sonoco Products from a "sell" rating to a "hold" rating in a research note on Wednesday, March 5th. Wells Fargo & Company lowered their price objective on shares of 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 lowered their price objective on shares of Sonoco Products from $59.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Finally, Truist Financial lowered their price objective on shares of Sonoco Products from $68.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $58.50.

Sonoco Products Price Performance

Shares of SON stock traded down $0.10 on Tuesday, reaching $47.07. The company's stock had a trading volume of 69,795 shares, compared to its average volume of 676,845. The company has a current ratio of 0.79, a quick ratio of 1.91 and a debt-to-equity ratio of 2.18. The stock's fifty day simple moving average is $47.31 and its 200-day simple moving average is $50.49. The company has a market capitalization of $4.63 billion, a price-to-earnings ratio of 28.43, a price-to-earnings-growth ratio of 0.76 and a beta of 0.61. Sonoco Products has a 1 year low of $44.36 and a 1 year high of $61.73.

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

Sonoco Products Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 26th were paid a $0.52 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $2.08 annualized dividend and a yield of 4.42%. Sonoco Products's dividend payout ratio (DPR) is presently 126.06%.

Sonoco Products 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.