Commonwealth Equity Services LLC Sells 1,206 Shares of Sonoco Products (NYSE:SON)

Commonwealth Equity Services LLC cut its position in shares of Sonoco Products (NYSE:SON) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,597 shares of the industrial products company’s stock after selling 1,206 shares during the period. Commonwealth Equity Services LLC’s holdings in Sonoco Products were worth $1,299,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Swiss National Bank lifted its holdings in shares of Sonoco Products by 0.7% during the 4th quarter. Swiss National Bank now owns 193,300 shares of the industrial products company’s stock worth $9,443,000 after acquiring an additional 1,400 shares during the period. HighTower Advisors LLC grew its stake in shares of Sonoco Products by 13.1% in the 4th quarter. HighTower Advisors LLC now owns 17,082 shares of the industrial products company’s stock valued at $834,000 after purchasing an additional 1,979 shares during the period. AGF Management Ltd. acquired a new position in shares of Sonoco Products in the 4th quarter worth approximately $2,447,000. Amundi boosted its stake in Sonoco Products by 154.9% in the 4th quarter. Amundi now owns 182,330 shares of the industrial products company’s stock valued at $8,619,000 after buying an additional 110,810 shares in the last quarter. Finally, Edgestream Partners L.P. grew its position in Sonoco Products by 422.2% in the fourth quarter. Edgestream Partners L.P. now owns 153,350 shares of the industrial products company’s stock valued at $7,491,000 after acquiring an additional 123,983 shares during the period. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Sonoco Products Stock Performance

Shares of NYSE:SON opened at $46.70 on Monday. The stock has a market capitalization of $4.61 billion, a P/E ratio of 28.30, a P/E/G ratio of 0.76 and a beta of 0.61. The company has a current ratio of 0.79, a quick ratio of 1.91 and a debt-to-equity ratio of 2.18. Sonoco Products has a 1-year low of $44.36 and a 1-year high of $61.73. The business has a 50-day moving average price of $47.32 and a two-hundred day moving average price of $49.99.

Sonoco Products (NYSE:SON) last announced 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 business 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%. Equities analysts predict that Sonoco Products will post 6.1 earnings per share for the current 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 issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date was Wednesday, February 26th. Sonoco Products’s dividend payout ratio (DPR) is currently 126.06%.

Wall Street Analysts Forecast Growth

SON has been the topic of several recent analyst reports. Citigroup reduced their target price 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. StockNews.com raised shares of Sonoco Products from a “sell” rating to a “hold” rating in a report on Wednesday, March 5th. Wells Fargo & Company decreased their price target on Sonoco Products from $50.00 to $48.00 and set an “underweight” rating on the stock in a research report on Monday, February 24th. Bank of America lifted their price objective on Sonoco Products from $66.00 to $71.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, Truist Financial lowered their target price on Sonoco Products from $68.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $58.50.

Insider Transactions at Sonoco Products

In other Sonoco Products news, Director John R. Haley bought 3,000 shares of Sonoco Products stock in a transaction on Thursday, February 27th. The shares were purchased at an average cost of $46.76 per share, for a total transaction of $140,280.00. Following the completion of the acquisition, the director now owns 18,558 shares in the company, valued at approximately $867,772.08. The trade was a 19.28 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert R. Hill, Jr. sold 4,000 shares of the 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 completion of the sale, the director now owns 16,065 shares of the company’s stock, valued at $770,316.75. This trade represents a 19.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.74% of the company’s stock.

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.