Pallas Capital Advisors LLC Purchases 284 Shares of Sonoco Products (NYSE:SON)

Pallas Capital Advisors LLC raised its position in Sonoco Products (NYSE:SON) by 6.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,701 shares of the industrial products company’s stock after purchasing an additional 284 shares during the period. Pallas Capital Advisors LLC’s holdings in Sonoco Products were worth $230,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Sonoco Products by 2.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 8,862 shares of the industrial products company’s stock valued at $445,000 after buying an additional 237 shares during the period. Wedmont Private Capital boosted its holdings in shares of Sonoco Products by 3.9% in 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. Creative Financial Designs Inc. ADV boosted its holdings in shares of Sonoco Products by 13.9% in the third quarter. Creative Financial Designs Inc. ADV now owns 2,373 shares of the industrial products company’s stock valued at $130,000 after buying an additional 289 shares during the period. Curi RMB Capital LLC boosted 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 valued at $709,000 after buying an additional 304 shares during the period. Finally, Impact Partnership Wealth LLC boosted its holdings in shares of Sonoco Products by 7.7% in the third quarter. Impact Partnership Wealth LLC now owns 4,506 shares of the industrial products company’s stock valued at $246,000 after buying an additional 323 shares during the period. Institutional investors own 77.69% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Sonoco Products

In other news, Director Robert R. Hill, Jr. sold 4,000 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $47.95, for a total value of $191,800.00. Following the transaction, the director now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.51% of the company’s stock.

Sonoco Products Stock Performance

Shares of SON stock opened at $47.26 on Thursday. The stock has a market cap of $4.64 billion, a P/E ratio of 16.24, a P/E/G ratio of 2.14 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. The company has a fifty day moving average price of $50.01 and a two-hundred day moving average price of $51.65. Sonoco Products has a one year low of $45.93 and a one year high of $61.73.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.04. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company posted $1.46 earnings per share. As a group, equities analysts predict that Sonoco Products will post 5.09 EPS for the current year.

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.