Sonoco Products (NYSE:SON) Stock Holdings Cut by Blue Trust Inc.

Blue Trust Inc. lessened its position in Sonoco Products (NYSE:SON) by 2.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 10,301 shares of the industrial products company’s stock after selling 309 shares during the quarter. Blue Trust Inc.’s holdings in Sonoco Products were worth $503,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Kennebec Savings Bank bought a new position in shares of Sonoco Products in the third quarter valued at $27,000. Capital Performance Advisors LLP acquired a new position in shares of Sonoco Products in the 3rd quarter worth $33,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Sonoco Products during the third quarter worth $71,000. Albion Financial Group UT purchased a new stake in shares of Sonoco Products during the fourth quarter valued at $84,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Sonoco Products by 821.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,879 shares of the industrial products company’s stock valued at $95,000 after purchasing an additional 1,675 shares during the period. Institutional investors and hedge funds own 77.69% of the company’s stock.

Sonoco Products Stock Performance

Shares of SON stock opened at $47.50 on Friday. The firm has a market cap of $4.67 billion, a P/E ratio of 16.32, a PEG ratio of 0.77 and a beta of 0.68. 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 has a fifty-two week low of $45.93 and a fifty-two week high of $61.73. The stock’s 50-day moving average is $49.42 and its two-hundred day moving average is $51.50.

Sonoco Products (NYSE:SON) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.04. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.72 billion. Sonoco Products had a net margin of 4.38% and a return on equity of 19.92%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.46 earnings per share. Analysts predict that Sonoco Products will post 5.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Sonoco Products

In other Sonoco Products 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 completion of the sale, the director now directly 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 Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.51% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on SON. Robert W. Baird reduced 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 decreased 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. Bank of America increased 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. Truist Financial lifted their price target on Sonoco Products from $63.00 to $68.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Wells Fargo & Company reduced their price objective on Sonoco Products from $52.00 to $50.00 and set an “underweight” rating for the company in a research note on Monday, January 6th. One 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.17.

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.