Sanctuary Advisors LLC Buys 460 Shares of Sonoco Products (NYSE:SON)

Sanctuary Advisors LLC raised its holdings in Sonoco Products (NYSE:SON) by 2.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,942 shares of the industrial products company’s stock after buying an additional 460 shares during the period. Sanctuary Advisors LLC’s holdings in Sonoco Products were worth $866,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Creative Planning increased its position in Sonoco Products by 4.3% during the 3rd quarter. Creative Planning now owns 11,435 shares of the industrial products company’s stock worth $625,000 after purchasing an additional 473 shares in the last quarter. Raymond James & Associates raised its stake in Sonoco Products by 18.1% during the 3rd quarter. Raymond James & Associates now owns 121,583 shares of the industrial products company’s stock worth $6,642,000 after buying an additional 18,648 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Sonoco Products by 5,363.0% in the third quarter. International Assets Investment Management LLC now owns 13,275 shares of the industrial products company’s stock valued at $725,000 after buying an additional 13,032 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Sonoco Products by 3.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 55,948 shares of the industrial products company’s stock valued at $3,056,000 after buying an additional 1,962 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in Sonoco Products by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 11,351 shares of the industrial products company’s stock worth $620,000 after acquiring an additional 770 shares during the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Bank of America boosted their price objective on Sonoco Products from $66.00 to $71.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Robert W. Baird lowered their target price 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. Citigroup lowered their price target on shares of Sonoco Products from $59.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com cut Sonoco Products from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Finally, Truist Financial decreased their price target on shares of Sonoco Products from $68.00 to $60.00 and set a “buy” rating on the stock in a report 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 given a buy rating to the company. According to data from MarketBeat, Sonoco Products currently has an average rating of “Hold” and a consensus price target of $58.50.

Sonoco Products Stock Performance

Shares of SON stock opened at $46.57 on Friday. The company has a market capitalization of $4.58 billion, a P/E ratio of 28.22, a PEG ratio of 0.76 and a beta of 0.67. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.91 and a current ratio of 0.79. The stock has a 50 day moving average price of $47.84 and a two-hundred day moving average price of $50.95. Sonoco Products has a fifty-two week low of $44.35 and a fifty-two week high of $61.73.

Sonoco Products (NYSE:SON) last released its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $1.67 billion. Analysts expect that Sonoco Products will post 6.1 earnings per share for the current year.

Sonoco Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 26th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date of this dividend is Wednesday, February 26th. Sonoco Products’s payout ratio is 126.06%.

Insider Activity at Sonoco Products

In other news, Director John R. Haley acquired 3,000 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were acquired at an average cost of $46.76 per share, with a total value of $140,280.00. Following the transaction, the director now owns 18,558 shares in the company, valued at $867,772.08. The trade was a 19.28 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert R. Hill, Jr. sold 4,000 shares of the 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 directly owns 16,065 shares of the company’s stock, valued at $770,316.75. This represents a 19.94 % decrease in their position. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by company insiders.

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.