Sonoco Products (NYSE:SON) Shares Sold by AlphaQuest LLC

AlphaQuest LLC trimmed its position in Sonoco Products (NYSE:SON) by 56.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,869 shares of the industrial products company’s stock after selling 32,598 shares during the period. AlphaQuest LLC’s holdings in Sonoco Products were worth $1,215,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Arizona State Retirement System lifted its position in Sonoco Products by 0.8% in the fourth quarter. Arizona State Retirement System now owns 28,516 shares of the industrial products company’s stock worth $1,393,000 after purchasing an additional 224 shares during the period. IFP Advisors Inc lifted its position in Sonoco Products by 3.6% in the fourth quarter. IFP Advisors Inc now owns 7,073 shares of the industrial products company’s stock worth $346,000 after purchasing an additional 243 shares during the period. Wedmont Private Capital lifted its position in Sonoco Products by 3.9% in the fourth quarter. Wedmont Private Capital now owns 6,652 shares of the industrial products company’s stock worth $306,000 after purchasing an additional 247 shares during the period. Pallas Capital Advisors LLC lifted its position in Sonoco Products by 6.4% in the fourth quarter. Pallas Capital Advisors LLC now owns 4,701 shares of the industrial products company’s stock worth $230,000 after purchasing an additional 284 shares during the period. Finally, Park Avenue Securities LLC lifted its position in Sonoco Products by 2.2% in the fourth quarter. Park Avenue Securities LLC now owns 14,084 shares of the industrial products company’s stock worth $688,000 after purchasing an additional 298 shares during the period. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Sonoco Products

In other news, Director Robert R. Hill, Jr. sold 4,000 shares of the company’s stock in a transaction on 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 approximately $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 SEC, which can be accessed through this link. Also, Director John R. Haley purchased 3,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was bought at an average cost of $46.76 per share, for a total transaction of $140,280.00. Following the completion of the purchase, the director now directly owns 18,558 shares of the company’s stock, valued at $867,772.08. The trade was a 19.28 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.51% of the company’s stock.

Sonoco Products Price Performance

Shares of NYSE:SON opened at $47.80 on Monday. The company’s fifty day moving average is $47.57 and its two-hundred day moving average is $50.82. The company has a quick ratio of 1.91, a current ratio of 0.79 and a debt-to-equity ratio of 2.18. Sonoco Products has a 12-month low of $44.35 and a 12-month high of $61.73. The company has a market cap of $4.70 billion, a P/E ratio of 28.97, a price-to-earnings-growth ratio of 0.76 and a beta of 0.61.

Sonoco Products (NYSE:SON) last announced its earnings results on Tuesday, February 18th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.01). Sonoco Products had a net margin of 2.60% and a return on equity of 20.81%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.67 billion. Equities analysts expect that Sonoco Products will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 26th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.35%. The ex-dividend date of this dividend is Wednesday, February 26th. Sonoco Products’s dividend payout ratio (DPR) is currently 126.06%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SON shares. Citigroup cut 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. StockNews.com raised Sonoco Products from a “sell” rating to a “hold” rating in a report on Wednesday, March 5th. Bank of America upped their price target on 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 dropped their price target on Sonoco Products from $50.00 to $48.00 and set an “underweight” rating on the stock in a report on Monday, February 24th. Finally, Truist Financial dropped their price target on Sonoco Products from $68.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $58.50.

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.