Yousif Capital Management LLC Sells 1,074 Shares of Sonoco Products (NYSE:SON)

Yousif Capital Management LLC reduced its position in shares of Sonoco Products (NYSE:SON) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 36,599 shares of the industrial products company’s stock after selling 1,074 shares during the quarter. Yousif Capital Management LLC’s holdings in Sonoco Products were worth $1,788,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SON. Wedmont Private Capital grew its position in Sonoco Products by 3.9% during the fourth quarter. Wedmont Private Capital now owns 6,652 shares of the industrial products company’s stock valued at $306,000 after buying an additional 247 shares during the period. Pallas Capital Advisors LLC boosted its stake in shares of Sonoco Products by 6.4% during the 4th quarter. Pallas Capital Advisors LLC now owns 4,701 shares of the industrial products company’s stock worth $230,000 after acquiring an additional 284 shares during the last quarter. Creative Financial Designs Inc. ADV grew its position in shares of Sonoco Products by 13.9% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 2,373 shares of the industrial products company’s stock valued at $130,000 after acquiring an additional 289 shares during the period. Park Avenue Securities LLC increased its stake in shares of Sonoco Products by 2.2% in the 4th quarter. Park Avenue Securities LLC now owns 14,084 shares of the industrial products company’s stock worth $688,000 after purchasing an additional 298 shares in the last quarter. Finally, Curi RMB Capital LLC raised its holdings in Sonoco Products by 2.4% in the 3rd quarter. Curi RMB Capital LLC now owns 12,979 shares of the industrial products company’s stock worth $709,000 after purchasing an additional 304 shares during the period. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Insider Activity

In other news, 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 transaction of $191,800.00. Following the completion of the transaction, the director now directly owns 16,065 shares in the company, valued at approximately $770,316.75. This represents a 19.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.51% of the company’s stock.

Sonoco Products Price Performance

Shares of NYSE:SON opened at $47.62 on Wednesday. The firm has a market cap of $4.68 billion, a price-to-earnings ratio of 16.37, a P/E/G ratio of 0.76 and a beta of 0.67. The firm has a fifty day moving average price of $48.83 and a 200 day moving average price of $51.28. Sonoco Products has a fifty-two week low of $45.93 and a fifty-two week high of $61.73. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.91 and a current ratio of 2.36.

Wall Street Analysts Forecast Growth

SON has been the subject of several recent research reports. Robert W. Baird cut their price target on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Bank of America increased their target price on shares of Sonoco Products from $66.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Truist Financial lifted their price target on shares of Sonoco Products from $63.00 to $68.00 and gave the company a “buy” rating in a report on Monday, January 6th. Citigroup reduced their price objective on shares of Sonoco Products from $59.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Wells Fargo & Company lowered their target price on shares of Sonoco Products from $52.00 to $50.00 and set an “underweight” rating on the stock in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $60.17.

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.