Livforsakringsbolaget Skandia Omsesidigt lowered its position in Sonoco Products (NYSE:SON - Free Report) by 26.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,300 shares of the industrial products company's stock after selling 7,600 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in Sonoco Products were worth $1,040,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SON. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Sonoco Products by 821.1% in the second 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 in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Sonoco Products in the 2nd quarter valued at $717,000. Handelsbanken Fonder AB boosted its stake in shares of Sonoco Products by 45.1% during the third quarter. Handelsbanken Fonder AB now owns 23,167 shares of the industrial products company's stock worth $1,266,000 after buying an additional 7,200 shares during the period. CWM LLC grew its stake in shares of Sonoco Products by 111.6% in the 3rd quarter. CWM LLC now owns 6,454 shares of the industrial products company's stock valued at $353,000 after purchasing an additional 3,404 shares during the last quarter. Finally, Advocate Group LLC acquired a new position in Sonoco Products in the 3rd quarter valued at $214,000. Institutional investors and hedge funds own 77.69% of the company's stock.
SON opened at $47.68 on Friday. The firm's 50 day moving average is $49.12 and its 200-day moving average is $51.39. The firm has a market capitalization of $4.69 billion, a P/E ratio of 16.38, a P/E/G ratio of 0.76 and a beta of 0.67. Sonoco Products has a 52-week low of $45.93 and a 52-week high of $61.73. The company has a quick ratio of 1.91, a current ratio of 2.36 and a debt-to-equity ratio of 1.74.
In related news, Director Robert R. Hill, Jr. sold 4,000 shares of the business's stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $47.95, for a total value of $191,800.00. Following the transaction, the director now owns 16,065 shares in the company, valued at approximately $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 can be accessed through this link. 0.51% of the stock is currently owned by company insiders.
Several analysts have recently commented on SON shares. Robert W. Baird reduced 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. Wells Fargo & Company cut their price objective on Sonoco Products from $52.00 to $50.00 and set an "underweight" rating for the company in a research report on Monday, January 6th. Citigroup lowered their price target 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. Truist Financial increased their target price on Sonoco Products from $63.00 to $68.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Finally, Bank of America lifted their price target on shares of Sonoco Products from $66.00 to $71.00 and gave the company a "buy" rating in a report on Monday, January 6th. One 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.17.
Read Our Latest Stock Analysis on SON
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
See The Five Stocks Here
Before you consider Sonoco Products, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sonoco Products wasn't on the list.
While Sonoco Products currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.