Sonoco Products (NYSE:SON) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC trimmed its holdings in Sonoco Products (NYSE:SON) by 21.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,585 shares of the industrial products company’s stock after selling 1,535 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Sonoco Products were worth $273,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SON. Private Management Group Inc. purchased a new stake in shares of Sonoco Products during the 3rd quarter worth approximately $24,994,000. Nordea Investment Management AB lifted its position in 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 acquiring an additional 437,128 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Sonoco Products by 50.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,029,166 shares of the industrial products company’s stock valued at $56,223,000 after acquiring an additional 344,658 shares during the last quarter. FMR LLC boosted its stake in Sonoco Products by 70.1% in the third quarter. FMR LLC now owns 559,596 shares of the industrial products company’s stock valued at $30,571,000 after acquiring an additional 230,709 shares in the last quarter. Finally, Sound Income Strategies LLC purchased a new position in shares of Sonoco Products during the third quarter worth about $9,935,000. 77.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SON has been the subject of several research reports. Bank of America boosted their target price on Sonoco Products from $66.00 to $71.00 and gave the company a “buy” rating in a report on Monday, January 6th. Citigroup reduced their price objective on Sonoco Products from $59.00 to $55.00 and set a “buy” rating for the company in a research note 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 research report on Monday, November 4th. Wells Fargo & Company reduced their price target on shares of Sonoco Products from $52.00 to $50.00 and set an “underweight” rating for the company in a research report on Monday, January 6th. Finally, Truist Financial increased their price target on shares of Sonoco Products from $63.00 to $68.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Sonoco Products presently has an average rating of “Moderate Buy” and a consensus price target of $60.17.

Insider Buying and Selling

In related news, Director Robert R. Hill, Jr. sold 4,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $47.95, for a total transaction of $191,800.00. Following the transaction, the director now owns 16,065 shares of the company’s stock, valued at $770,316.75. This represents a 19.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.51% of the stock is currently owned by corporate insiders.

Sonoco Products Price Performance

Shares of NYSE SON opened at $48.24 on Thursday. The stock has a fifty day moving average price of $49.52 and a 200 day moving average price of $51.54. Sonoco Products has a 1-year low of $45.93 and a 1-year high of $61.73. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.36 and a quick ratio of 1.91. The company has a market cap of $4.74 billion, a PE ratio of 16.58, a P/E/G ratio of 0.78 and a beta of 0.68.

Sonoco Products (NYSE:SON) last released its earnings results on Thursday, October 31st. The industrial products company reported $1.49 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 analysts’ expectations of $1.72 billion. During the same quarter last year, the business earned $1.46 EPS. The business’s revenue was down 2.0% on a year-over-year basis. Sell-side analysts forecast that Sonoco Products will post 5.12 EPS for the current year.

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.