Naples Global Advisors LLC Has $2.66 Million Stock Holdings in Sonoco Products (NYSE:SON)

Naples Global Advisors LLC trimmed its stake in shares of Sonoco Products (NYSE:SON) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,523 shares of the industrial products company’s stock after selling 611 shares during the quarter. Naples Global Advisors LLC owned about 0.06% of Sonoco Products worth $2,663,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SON. Private Management Group Inc. bought a new stake in shares of Sonoco Products during the 3rd quarter worth about $24,994,000. Nordea Investment Management AB lifted its position in Sonoco Products by 63.2% during the fourth quarter. Nordea Investment Management AB now owns 1,129,133 shares of the industrial products company’s stock worth $55,181,000 after acquiring an additional 437,128 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Sonoco Products by 50.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,029,166 shares of the industrial products company’s stock worth $56,223,000 after acquiring an additional 344,658 shares during the period. Meadow Creek Wealth Advisors LLC acquired a new position in shares of Sonoco Products in the fourth quarter valued at approximately $11,672,000. Finally, FMR LLC increased its stake in shares of Sonoco Products by 70.1% during the third quarter. FMR LLC now owns 559,596 shares of the industrial products company’s stock worth $30,571,000 after purchasing an additional 230,709 shares during the period. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the company. 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 research note on Monday, November 4th. 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 research report on Monday, January 6th. Wells Fargo & Company lowered 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 report on Monday, January 6th. Bank of America lifted their price objective on shares of Sonoco Products from $66.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Truist Financial increased their target price on shares of Sonoco Products from $63.00 to $68.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Sonoco Products has an average rating of “Moderate Buy” and an average target price of $60.17.

Sonoco Products Price Performance

SON stock opened at $46.84 on Thursday. The company’s 50-day moving average price is $48.73 and its two-hundred day moving average price is $51.25. The firm has a market cap of $4.60 billion, a P/E ratio of 16.10, a P/E/G ratio of 0.76 and a beta of 0.67. The company has a quick ratio of 1.91, a current ratio of 2.36 and a debt-to-equity ratio of 1.74. Sonoco Products has a 12 month low of $45.93 and a 12 month high of $61.73.

Sonoco Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 26th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.44%. Sonoco Products’s dividend payout ratio (DPR) is 71.48%.

Insider Buying and Selling 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 on 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.51% of the company’s stock.

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.