Empowered Funds LLC Sells 39,379 Shares of Sonoco Products (NYSE:SON)

Empowered Funds LLC decreased its position in shares of Sonoco Products (NYSE:SON) by 80.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,694 shares of the industrial products company’s stock after selling 39,379 shares during the period. Empowered Funds LLC’s holdings in Sonoco Products were worth $474,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in SON. Creative Planning boosted its stake in shares of Sonoco Products by 4.3% during the third quarter. Creative Planning now owns 11,435 shares of the industrial products company’s stock valued at $625,000 after purchasing an additional 473 shares during the period. Raymond James & Associates boosted its stake in shares of Sonoco Products by 18.1% during the third quarter. Raymond James & Associates now owns 121,583 shares of the industrial products company’s stock valued at $6,642,000 after purchasing an additional 18,648 shares during the period. Westhampton Capital LLC boosted its stake in shares of Sonoco Products by 35.8% during the third quarter. Westhampton Capital LLC now owns 36,532 shares of the industrial products company’s stock valued at $1,996,000 after purchasing an additional 9,630 shares during the period. Community Trust & Investment Co. purchased a new stake in shares of Sonoco Products during the third quarter valued at $917,000. Finally, International Assets Investment Management LLC boosted its stake in shares of Sonoco Products by 5,363.0% during 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 purchasing an additional 13,032 shares during the period. 77.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Sonoco Products

In other news, Director Robert R. Hill, Jr. sold 4,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were 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 in the company, valued at $770,316.75. This represents a 19.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.51% of the company’s stock.

Sonoco Products Stock Down 3.5 %

NYSE:SON opened at $46.44 on Thursday. The firm has a market cap of $4.56 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 0.76 and a beta of 0.67. The company has a 50-day moving average of $48.34 and a 200 day moving average of $51.08. Sonoco Products has a 1-year low of $44.35 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.

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 the consensus estimate of $1.18 by ($0.01). The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Sonoco Products had a net margin of 4.38% and a return on equity of 19.92%. As a group, research analysts anticipate that Sonoco Products will post 5.08 EPS for the current fiscal year.

Sonoco Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 26th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.48%. The ex-dividend date is Wednesday, February 26th. Sonoco Products’s payout ratio is 71.48%.

Wall Street Analysts Forecast Growth

SON has been the subject of a number of recent analyst reports. Bank of America boosted their target price on shares of Sonoco Products from $66.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Wells Fargo & Company lowered their target price on shares of Sonoco Products from $52.00 to $50.00 and set an “underweight” rating for the company in a research note on Monday, January 6th. Robert W. Baird lowered their price objective on shares of Sonoco Products from $58.00 to $55.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Citigroup lowered 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, Truist Financial upped their price objective 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.