Code Waechter LLC Purchases 1,354 Shares of Sonoco Products (NYSE:SON)

Code Waechter LLC boosted its position in Sonoco Products (NYSE:SON) by 16.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 9,415 shares of the industrial products company’s stock after buying an additional 1,354 shares during the period. Code Waechter LLC’s holdings in Sonoco Products were worth $460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Earnest Partners LLC lifted its holdings in shares of Sonoco Products by 2.5% during the second quarter. Earnest Partners LLC now owns 2,645,744 shares of the industrial products company’s stock worth $134,192,000 after buying an additional 64,915 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Sonoco Products by 11.0% in 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 purchasing an additional 261,062 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Sonoco Products by 13,464.6% during the 2nd quarter. Pacer Advisors Inc. now owns 1,980,297 shares of the industrial products company’s stock worth $100,441,000 after purchasing an additional 1,965,698 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Sonoco Products by 2.3% during the third quarter. Geode Capital Management LLC now owns 1,863,756 shares of the industrial products company’s stock worth $101,842,000 after purchasing an additional 42,701 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of Sonoco Products by 9.3% during the second quarter. Sei Investments Co. now owns 1,490,580 shares of the industrial products company’s stock worth $75,602,000 after purchasing an additional 126,643 shares during the period. 77.69% of the stock is owned by institutional investors and hedge funds.

Sonoco Products Stock Up 1.5 %

Shares of NYSE SON opened at $46.62 on Tuesday. The company has a market cap of $4.58 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 2.14 and a beta of 0.68. The company has a current ratio of 2.36, a quick ratio of 1.91 and a debt-to-equity ratio of 1.74. Sonoco Products has a 12 month low of $45.93 and a 12 month high of $61.73. The stock has a 50-day moving average price of $50.07 and a two-hundred day moving average price of $51.67.

Sonoco Products (NYSE:SON) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the prior year, the company earned $1.46 EPS. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, analysts forecast that Sonoco Products will post 5.09 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Robert R. Hill, Jr. sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were 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 $770,316.75. This trade represents a 19.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.51% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on SON. Robert W. Baird reduced their price target on 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 increased 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. Bank of America raised their price target on Sonoco Products from $66.00 to $71.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Wells Fargo & Company reduced their price objective on shares of Sonoco Products from $52.00 to $50.00 and set an “underweight” rating on the stock in a research note on Monday, January 6th. Finally, Citigroup dropped their target price 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $60.17.

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.