Corient Private Wealth LLC Has $683,000 Stock Position in Sonoco Products (NYSE:SON)

Corient Private Wealth LLC decreased its holdings in Sonoco Products (NYSE:SON) by 16.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,983 shares of the industrial products company’s stock after selling 2,736 shares during the period. Corient Private Wealth LLC’s holdings in Sonoco Products were worth $683,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Private Management Group Inc. boosted its holdings in shares of Sonoco Products by 27.7% during the 4th quarter. Private Management Group Inc. now owns 584,390 shares of the industrial products company’s stock worth $28,547,000 after buying an additional 126,867 shares during the period. Quilter Plc lifted its position in Sonoco Products by 3.1% during the fourth quarter. Quilter Plc now owns 299,178 shares of the industrial products company’s stock worth $14,615,000 after acquiring an additional 8,895 shares during the last quarter. Synergy Asset Management LLC boosted its holdings in shares of Sonoco Products by 9.0% during the fourth quarter. Synergy Asset Management LLC now owns 66,754 shares of the industrial products company’s stock worth $3,610,000 after acquiring an additional 5,505 shares during the period. ING Groep NV grew its position in shares of Sonoco Products by 579.8% in the fourth quarter. ING Groep NV now owns 144,800 shares of the industrial products company’s stock valued at $7,073,000 after purchasing an additional 123,500 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in shares of Sonoco Products by 312.1% during the third quarter. Jane Street Group LLC now owns 185,351 shares of the industrial products company’s stock worth $10,126,000 after purchasing an additional 140,370 shares during the period. Institutional investors own 77.69% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on SON. Bank of America upped their price objective on Sonoco Products from $66.00 to $71.00 and gave the company a “buy” rating in a report on Monday, January 6th. 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 research note on Friday, February 21st. StockNews.com upgraded shares of Sonoco Products from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th. Wells Fargo & Company decreased their target price on shares of Sonoco Products from $50.00 to $48.00 and set an “underweight” rating on the stock in a research report on Monday, February 24th. Finally, Citigroup dropped their price target 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 equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Sonoco Products has a consensus rating of “Hold” and an average target price of $58.50.

Sonoco Products Stock Down 0.4 %

SON stock opened at $46.70 on Friday. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.91 and a current ratio of 0.79. Sonoco Products has a fifty-two week low of $44.36 and a fifty-two week high of $61.73. The stock’s 50 day simple moving average is $47.32 and its 200 day simple moving average is $50.05. The company has a market cap of $4.61 billion, a P/E ratio of 28.30, a price-to-earnings-growth ratio of 0.76 and a beta of 0.61.

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

Sonoco Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 26th were issued a $0.52 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $2.08 annualized dividend and a dividend yield of 4.45%. Sonoco Products’s dividend payout ratio is currently 126.06%.

Insider Activity at Sonoco Products

In other Sonoco Products 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 completion of the sale, the director now directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO R. Howard Coker bought 20,000 shares of Sonoco Products stock in a transaction dated Thursday, March 13th. The stock was acquired at an average price of $46.10 per share, with a total value of $922,000.00. Following the purchase, the chief executive officer now directly owns 482,365 shares of the company’s stock, valued at approximately $22,237,026.50. This represents a 4.33 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.51% of the stock is owned by insiders.

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.