Thrivent Financial for Lutherans Sells 21,177 Shares of Sonoco Products (NYSE:SON)

Thrivent Financial for Lutherans trimmed its holdings in shares of Sonoco Products (NYSE:SON) by 21.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 75,847 shares of the industrial products company’s stock after selling 21,177 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.08% of Sonoco Products worth $3,705,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in shares of Sonoco Products by 50.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,029,166 shares of the industrial products company’s stock valued at $56,223,000 after acquiring an additional 344,658 shares during the period. Cerity Partners LLC grew its holdings in Sonoco Products by 17.3% during the third quarter. Cerity Partners LLC now owns 24,042 shares of the industrial products company’s stock valued at $1,313,000 after purchasing an additional 3,547 shares during the period. Independent Advisor Alliance bought a new stake in Sonoco Products during the third quarter valued at about $365,000. FMR LLC raised its stake in shares of Sonoco Products by 70.1% in the third quarter. FMR LLC now owns 559,596 shares of the industrial products company’s stock worth $30,571,000 after buying an additional 230,709 shares during the period. Finally, Quantbot Technologies LP purchased a new position in shares of Sonoco Products during the 3rd quarter valued at about $111,000. 77.69% of the stock is owned by hedge funds and other institutional investors.

Sonoco Products Trading Down 0.7 %

Shares of Sonoco Products stock opened at $46.40 on Wednesday. Sonoco Products has a twelve month low of $44.36 and a twelve month high of $61.73. The company has a quick ratio of 1.91, a current ratio of 0.79 and a debt-to-equity ratio of 2.18. The business has a 50-day moving average price of $47.35 and a 200-day moving average price of $50.14. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of 28.12, a PEG ratio of 0.76 and a beta of 0.61.

Sonoco Products (NYSE:SON) last released its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 20.81% and a net margin of 2.60%. Equities research analysts anticipate that Sonoco Products will post 6.1 EPS for the current fiscal year.

Sonoco Products Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.48%. Sonoco Products’s payout ratio is currently 126.06%.

Insider Transactions at Sonoco Products

In other news, Director Robert R. Hill, Jr. sold 4,000 shares of Sonoco Products stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $47.95, for a total value of $191,800.00. Following the completion of the transaction, the director now owns 16,065 shares in the company, valued at approximately $770,316.75. The trade was a 19.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO R. Howard Coker purchased 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average price of $46.10 per share, for a total transaction of $922,000.00. Following the acquisition, the chief executive officer now directly owns 482,365 shares in the company, valued at $22,237,026.50. This trade represents a 4.33 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SON shares. Wells Fargo & Company decreased their target price 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. StockNews.com upgraded shares of Sonoco Products from a “sell” rating to a “hold” rating in a research report on Wednesday, March 5th. Truist Financial dropped their target price on shares of Sonoco Products from $68.00 to $60.00 and set a “buy” rating for the company in a report on Friday, February 21st. Bank of America raised their price target on Sonoco Products from $66.00 to $71.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Citigroup dropped their price objective on Sonoco Products from $59.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Sonoco Products has an average rating of “Hold” and an average target price of $58.50.

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.