Sonoco Products Company (NYSE:SON) Stock Holdings Trimmed by Cwm LLC

Cwm LLC reduced its stake in Sonoco Products Company (NYSE:SON) by 37.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,389 shares of the industrial products company’s stock after selling 4,499 shares during the period. Cwm LLC’s holdings in Sonoco Products were worth $349,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Beverly Hills Private Wealth LLC boosted its position in shares of Sonoco Products by 4.1% during the first quarter. Beverly Hills Private Wealth LLC now owns 5,669 shares of the industrial products company’s stock worth $268,000 after buying an additional 224 shares during the period. Treasurer of the State of North Carolina boosted its position in shares of Sonoco Products by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 43,056 shares of the industrial products company’s stock worth $2,103,000 after buying an additional 270 shares during the period. IVC Wealth Advisors LLC boosted its position in shares of Sonoco Products by 4.6% during the first quarter. IVC Wealth Advisors LLC now owns 6,542 shares of the industrial products company’s stock worth $309,000 after buying an additional 288 shares during the period. State of Michigan Retirement System boosted its position in shares of Sonoco Products by 1.3% during the first quarter. State of Michigan Retirement System now owns 23,551 shares of the industrial products company’s stock worth $1,113,000 after buying an additional 300 shares during the period. Finally, State of Alaska Department of Revenue boosted its position in shares of Sonoco Products by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 11,511 shares of the industrial products company’s stock worth $543,000 after buying an additional 305 shares during the period. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SON shares. Raymond James Financial boosted their price objective on Sonoco Products from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. Truist Financial boosted their price objective on Sonoco Products from $53.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday. Jefferies Financial Group began coverage on Sonoco Products in a research report on Tuesday, April 22nd. They set a “buy” rating and a $62.00 price objective for the company. Wall Street Zen upgraded Sonoco Products from a “sell” rating to a “hold” rating in a research report on Wednesday, May 7th. Finally, UBS Group upped their target price on Sonoco Products from $48.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $57.63.

Insider Buying and Selling at Sonoco Products

In related news, CEO R. Howard Coker purchased 20,000 shares of the company’s stock in a transaction on Thursday, May 1st. The shares were bought at an average price of $41.17 per share, with a total value of $823,400.00. Following the completion of the acquisition, the chief executive officer owned 502,365 shares of the company’s stock, valued at approximately $20,682,367.05. This represents a 4.15% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John R. Haley purchased 2,246 shares of the company’s stock in a transaction on Friday, May 2nd. The stock was bought at an average cost of $44.57 per share, for a total transaction of $100,104.22. Following the acquisition, the director directly owned 20,804 shares of the company’s stock, valued at $927,234.28. This represents a 12.10% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 27,721 shares of company stock valued at $1,144,366. Corporate insiders own 0.74% of the company’s stock.

Sonoco Products Stock Performance

SON opened at $48.34 on Friday. The company has a market capitalization of $4.77 billion, a price-to-earnings ratio of 8.66, a price-to-earnings-growth ratio of 0.62 and a beta of 0.68. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.25 and a quick ratio of 0.51. Sonoco Products Company has a 1-year low of $39.46 and a 1-year high of $56.77. The business has a 50 day moving average price of $45.55 and a two-hundred day moving average price of $45.98.

Sonoco Products (NYSE:SON) last posted its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.07). The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.92 billion. Sonoco Products had a net margin of 8.35% and a return on equity of 20.46%. Sonoco Products’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.28 EPS. Research analysts predict that Sonoco Products Company will post 6.1 EPS for the current fiscal year.

Sonoco Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th will be issued a $0.53 dividend. The ex-dividend date is Friday, August 8th. This represents a $2.12 annualized dividend and a dividend yield of 4.39%. Sonoco Products’s dividend payout ratio is currently 37.99%.

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.