SG Americas Securities LLC Raises Stock Holdings in Sonoco Products (NYSE:SON)

SG Americas Securities LLC raised its holdings in shares of Sonoco Products (NYSE:SON) by 710.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 113,421 shares of the industrial products company’s stock after purchasing an additional 99,431 shares during the quarter. SG Americas Securities LLC owned 0.12% of Sonoco Products worth $5,541,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of SON. AQR Capital Management LLC grew its holdings in Sonoco Products by 80.8% during 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 in the last quarter. Jane Street Group LLC lifted its position in shares of Sonoco Products by 312.1% during the third quarter. Jane Street Group LLC now owns 185,351 shares of the industrial products company’s stock worth $10,126,000 after purchasing an additional 140,370 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Sonoco Products in the second quarter worth about $2,419,000. Nordea Investment Management AB increased its holdings in Sonoco Products by 63.2% in the fourth quarter. Nordea Investment Management AB now owns 1,129,133 shares of the industrial products company’s stock valued at $55,181,000 after buying an additional 437,128 shares during the last quarter. Finally, Versor Investments LP acquired a new stake in Sonoco Products during the third quarter valued at approximately $970,000. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Sonoco Products

In other Sonoco Products news, Director Robert R. Hill, Jr. sold 4,000 shares of the firm’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 transaction, the director now owns 16,065 shares of the company’s stock, valued at approximately $770,316.75. This trade represents a 19.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.51% of the company’s stock.

Sonoco Products Price Performance

NYSE SON opened at $48.44 on Friday. The company has a 50-day moving average price of $49.59 and a two-hundred day moving average price of $51.55. Sonoco Products has a 52 week low of $45.93 and a 52 week high of $61.73. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of 16.65, a price-to-earnings-growth ratio of 0.78 and a beta of 0.68. The company has a current ratio of 2.36, a quick ratio of 1.91 and a debt-to-equity ratio of 1.74.

Sonoco Products (NYSE:SON) last posted its earnings results on Thursday, October 31st. The industrial products company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.45 by $0.04. Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period last year, the firm earned $1.46 EPS. The firm’s revenue was down 2.0% compared to the same quarter last year. Analysts forecast that Sonoco Products will post 5.12 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Citigroup decreased their target price on Sonoco Products from $59.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Truist Financial boosted their target price on shares of Sonoco Products from $63.00 to $68.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Robert W. Baird dropped their target price on shares of Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. 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. Finally, Wells Fargo & Company cut their target price on shares of Sonoco Products from $52.00 to $50.00 and set an “underweight” rating on the stock in a report on Monday, January 6th. One 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. Based on data from MarketBeat.com, the stock currently has an average 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.