Charles Schwab Investment Management Inc. Has $51.03 Million Stock Holdings in Sonoco Products (NYSE:SON)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Sonoco Products (NYSE:SON) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,044,620 shares of the industrial products company’s stock after buying an additional 15,454 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.06% of Sonoco Products worth $51,030,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of SON. IFP Advisors Inc boosted its position in Sonoco Products by 3.6% during the fourth quarter. IFP Advisors Inc now owns 7,073 shares of the industrial products company’s stock worth $346,000 after purchasing an additional 243 shares during the period. Wedmont Private Capital boosted 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 worth $306,000 after purchasing an additional 247 shares during the period. Pallas Capital Advisors LLC boosted its position in Sonoco Products by 6.4% during the fourth quarter. Pallas Capital Advisors LLC now owns 4,701 shares of the industrial products company’s stock worth $230,000 after purchasing an additional 284 shares during the period. Park Avenue Securities LLC boosted its position in Sonoco Products by 2.2% during the fourth 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 during the period. Finally, Curi RMB Capital LLC lifted its holdings in shares of Sonoco Products by 2.4% in the third quarter. Curi RMB Capital LLC now owns 12,979 shares of the industrial products company’s stock worth $709,000 after buying an additional 304 shares in the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.

Insider Transactions at Sonoco Products

In related news, Director Robert R. Hill, Jr. sold 4,000 shares of Sonoco Products stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $47.95, for a total value of $191,800.00. Following the sale, the director now owns 16,065 shares in the company, valued at $770,316.75. The trade was a 19.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John R. Haley purchased 3,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average price of $46.76 per share, for a total transaction of $140,280.00. Following the acquisition, the director now owns 18,558 shares of the company’s stock, valued at $867,772.08. This represents a 19.28 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.51% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SON shares. 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. Wells Fargo & Company lowered their price target on shares of Sonoco Products from $50.00 to $48.00 and set an “underweight” rating on the stock in a report on Monday, February 24th. Bank of America increased their price target 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 lowered 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. Finally, StockNews.com raised shares of Sonoco Products from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $58.50.

Sonoco Products Trading Down 1.2 %

SON stock opened at $44.65 on Friday. The company has a market capitalization of $4.39 billion, a PE ratio of 27.06, a price-to-earnings-growth ratio of 0.76 and a beta of 0.61. Sonoco Products has a one year low of $44.35 and a one year high of $61.73. The company’s 50 day moving average price is $47.43 and its two-hundred day moving average price is $50.70. 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 (NYSE:SON) last posted 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). 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 for the quarter, compared to analysts’ expectations of $1.67 billion. As a group, analysts predict 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. This represents a $2.08 annualized dividend and a dividend yield of 4.66%. The ex-dividend date was Wednesday, February 26th. Sonoco Products’s dividend payout ratio is 126.06%.

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.