D.A. Davidson & CO. Sells 1,301 Shares of Sonoco Products (NYSE:SON)

D.A. Davidson & CO. trimmed its holdings in Sonoco Products (NYSE:SON) by 12.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,181 shares of the industrial products company’s stock after selling 1,301 shares during the quarter. D.A. Davidson & CO.’s holdings in Sonoco Products were worth $449,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Private Management Group Inc. raised its holdings in shares of Sonoco Products by 27.7% in the fourth quarter. Private Management Group Inc. now owns 584,390 shares of the industrial products company’s stock valued at $28,547,000 after buying an additional 126,867 shares during the last quarter. Quilter Plc raised its holdings in shares of Sonoco Products by 3.1% in the fourth quarter. Quilter Plc now owns 299,178 shares of the industrial products company’s stock valued at $14,615,000 after buying an additional 8,895 shares during the last quarter. Synergy Asset Management LLC raised its holdings in shares of Sonoco Products by 9.0% in the fourth quarter. Synergy Asset Management LLC now owns 66,754 shares of the industrial products company’s stock valued at $3,610,000 after buying an additional 5,505 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Sonoco Products by 312.1% in the third quarter. Jane Street Group LLC now owns 185,351 shares of the industrial products company’s stock valued at $10,126,000 after buying an additional 140,370 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Sonoco Products by 63.2% in the fourth quarter. Nordea Investment Management AB now owns 1,129,133 shares of the industrial products company’s stock valued at $55,181,000 after buying an additional 437,128 shares during the last quarter. 77.69% of the stock is owned by institutional investors.

Sonoco Products Trading Up 1.3 %

NYSE SON opened at $47.18 on Wednesday. The company has a market cap of $4.64 billion, a PE ratio of 28.59, a PEG ratio of 0.76 and a beta of 0.67. 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 12 month low of $44.35 and a 12 month high of $61.73. The stock has a 50 day moving average of $47.96 and a 200-day moving average of $51.01.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.01). Sonoco Products had a net margin of 2.60% and a return on equity of 20.81%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.67 billion. On average, equities research analysts anticipate that Sonoco Products will post 6.1 EPS for the current fiscal year.

Sonoco Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Wednesday, February 26th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend is Wednesday, February 26th. Sonoco Products’s dividend payout ratio is currently 126.06%.

Insider Transactions at Sonoco Products

In related news, Director Robert R. Hill, Jr. sold 4,000 shares of the firm’s 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 transaction, the director now owns 16,065 shares in the company, valued at approximately $770,316.75. This trade represents 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 accessible through this link. Insiders own 0.51% of the company’s stock.

Analyst Ratings Changes

SON has been the subject of several recent research reports. StockNews.com cut Sonoco Products from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Citigroup decreased their target price 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. Bank of America increased their target price on Sonoco Products from $66.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Wells Fargo & Company lowered their target price on Sonoco Products from $50.00 to $48.00 and set an “underweight” rating for the company in a research note on Monday. Finally, Truist Financial decreased their price target on shares of 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 research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $58.50.

About Sonoco Products

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.