Nisa Investment Advisors LLC decreased its position in Sonoco Products (NYSE:SON – Free Report) by 21.6% in the 4th quarter, HoldingsChannel reports. The firm owned 5,585 shares of the industrial products company’s stock after selling 1,535 shares during the period. Nisa Investment Advisors LLC’s holdings in Sonoco Products were worth $273,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wedmont Private Capital grew its holdings in shares of Sonoco Products by 3.9% during the fourth quarter. Wedmont Private Capital now owns 6,652 shares of the industrial products company’s stock worth $306,000 after buying an additional 247 shares in the last quarter. Pallas Capital Advisors LLC boosted its position in Sonoco Products by 6.4% during the fourth quarter. Pallas Capital Advisors LLC now owns 4,701 shares of the industrial products company’s stock worth $230,000 after acquiring an additional 284 shares during the last quarter. Creative Financial Designs Inc. ADV grew its stake in Sonoco Products by 13.9% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 2,373 shares of the industrial products company’s stock worth $130,000 after acquiring an additional 289 shares during the period. Park Avenue Securities LLC raised its holdings in Sonoco Products by 2.2% in the 4th quarter. Park Avenue Securities LLC now owns 14,084 shares of the industrial products company’s stock valued at $688,000 after acquiring an additional 298 shares during the last quarter. Finally, Curi RMB Capital LLC lifted its stake in shares of 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 worth $709,000 after purchasing an additional 304 shares during the period. 77.69% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Sonoco Products
In related news, Director Robert R. Hill, Jr. sold 4,000 shares of the stock in a transaction 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 sale, the director now directly owns 16,065 shares in the company, valued at approximately $770,316.75. This represents a 19.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.51% of the company’s stock.
Sonoco Products Stock Down 0.0 %
Sonoco Products (NYSE:SON – Get Free Report) 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 the consensus estimate of $1.45 by $0.04. Sonoco Products had a net margin of 4.38% and a return on equity of 19.92%. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the firm earned $1.46 earnings per share. Sonoco Products’s revenue for the quarter was down 2.0% on a year-over-year basis. Equities analysts forecast that Sonoco Products will post 5.12 earnings per share for the current year.
Analysts Set New Price Targets
A number of brokerages have recently commented on SON. Citigroup lowered their price objective on Sonoco Products from $59.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Wells Fargo & Company lowered their price target on Sonoco Products from $52.00 to $50.00 and set an “underweight” rating for the company in a report on Monday, January 6th. Robert W. Baird cut their price objective on shares of Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Truist Financial boosted their target price on shares of Sonoco Products from $63.00 to $68.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Bank of America upped their price target on shares of Sonoco Products from $66.00 to $71.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Sonoco Products currently has an average rating of “Moderate Buy” and a consensus target price of $60.17.
Read Our Latest Stock Report on SON
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.
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