Robert R. Hill, Jr. Sells 4,000 Shares of Sonoco Products (NYSE:SON) Stock

Sonoco Products (NYSE:SON) Director Robert R. Hill, Jr. sold 4,000 shares of Sonoco Products 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 sale, the director now directly owns 16,065 shares of the company’s stock, valued at $770,316.75. This trade represents a 19.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Sonoco Products Trading Down 2.8 %

Shares of Sonoco Products stock opened at $45.97 on Friday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.91 and a current ratio of 2.36. The company has a market capitalization of $4.52 billion, a P/E ratio of 15.80, a PEG ratio of 2.14 and a beta of 0.68. Sonoco Products has a 1 year low of $45.93 and a 1 year high of $61.73. The company’s fifty day moving average is $50.15 and its two-hundred day moving average is $51.71.

Sonoco Products (NYSE:SON) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 19.92% and a net margin of 4.38%. The business’s revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the company posted $1.46 earnings per share. Analysts forecast that Sonoco Products will post 5.09 earnings per share for the current year.

Sonoco Products Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.52%. The ex-dividend date was Friday, November 8th. Sonoco Products’s dividend payout ratio (DPR) is presently 71.48%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Robert W. Baird decreased their target price on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Bank of America upped their target price 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. Wells Fargo & Company cut their price target on shares of Sonoco Products from $52.00 to $50.00 and set an “underweight” rating on the stock in a research note on Monday, January 6th. 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. Finally, Truist Financial lifted 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Sonoco Products has an average rating of “Moderate Buy” and a consensus price target of $60.17.

Hedge Funds Weigh In On Sonoco Products

A number of hedge funds and other institutional investors have recently bought and sold shares of SON. AQR Capital Management LLC lifted its stake in shares of Sonoco Products by 80.8% in the 2nd quarter. AQR Capital Management LLC now owns 555,575 shares of the industrial products company’s stock worth $28,179,000 after acquiring an additional 248,236 shares during the period. Canada Pension Plan Investment Board acquired a new stake in Sonoco Products in the second quarter valued at about $2,419,000. Jane Street Group LLC boosted its holdings in Sonoco Products by 312.1% in the 3rd quarter. Jane Street Group LLC now owns 185,351 shares of the industrial products company’s stock valued at $10,126,000 after purchasing an additional 140,370 shares in the last quarter. Versor Investments LP acquired a new position in Sonoco Products during the 3rd quarter worth approximately $970,000. Finally, Speece Thorson Capital Group Inc. raised its stake in shares of Sonoco Products by 18.6% during the 3rd quarter. Speece Thorson Capital Group Inc. now owns 305,971 shares of the industrial products company’s stock worth $16,715,000 after buying an additional 47,928 shares in the last quarter. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

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.