Sonoco Products (NYSE:SON) Shares Sold by Blue Trust Inc.

Blue Trust Inc. lowered its position in shares of Sonoco Products (NYSE:SON) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,301 shares of the industrial products company’s stock after selling 309 shares during the period. Blue Trust Inc.’s holdings in Sonoco Products were worth $503,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in SON. Kennebec Savings Bank purchased a new stake in Sonoco Products during the 3rd quarter worth approximately $27,000. Capital Performance Advisors LLP bought a new stake in shares of Sonoco Products in the third quarter worth $33,000. Wilmington Savings Fund Society FSB acquired a new stake in Sonoco Products in the third quarter valued at $71,000. Albion Financial Group UT bought a new position in Sonoco Products during the 4th quarter valued at $84,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Sonoco Products by 821.1% during the 2nd 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. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Sonoco Products

In related news, Director Robert R. Hill, Jr. sold 4,000 shares of Sonoco Products stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $47.95, for a total transaction of $191,800.00. Following the sale, the director now directly 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.51% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently commented on SON. Robert W. Baird reduced their price target on shares of Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Truist Financial boosted their price target on Sonoco Products from $63.00 to $68.00 and gave the company a “buy” rating in a report on Monday, January 6th. Citigroup reduced their price objective on Sonoco Products from $59.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Bank of America increased 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. Finally, 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 report on Monday, January 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.17.

Sonoco Products Stock Down 1.6 %

Sonoco Products stock opened at $47.50 on Friday. The firm has a market capitalization of $4.67 billion, a P/E ratio of 16.32, a P/E/G ratio of 0.77 and a beta of 0.68. The company has a 50-day simple moving average of $49.42 and a 200-day simple moving average of $51.50. 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.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.45 by $0.04. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.72 billion. Sonoco Products had a net margin of 4.38% and a return on equity of 19.92%. Sonoco Products’s revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.46 earnings per share. As a group, equities analysts expect that Sonoco Products will post 5.08 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.