Strs Ohio Has $101,000 Stock Position in Sonoco Products Company $SON

Strs Ohio lessened its holdings in Sonoco Products Company (NYSE:SON) by 95.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,354 shares of the industrial products company’s stock after selling 52,071 shares during the period. Strs Ohio’s holdings in Sonoco Products were worth $101,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. TD Waterhouse Canada Inc. purchased a new stake in shares of Sonoco Products in the second quarter worth approximately $30,000. True Wealth Design LLC grew its holdings in Sonoco Products by 172.5% during the third quarter. True Wealth Design LLC now owns 744 shares of the industrial products company’s stock worth $32,000 after buying an additional 471 shares in the last quarter. SouthState Corp raised its position in Sonoco Products by 439.1% in the 2nd quarter. SouthState Corp now owns 1,240 shares of the industrial products company’s stock valued at $54,000 after buying an additional 1,010 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Sonoco Products by 315.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,587 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 1,205 shares in the last quarter. Finally, Richardson Financial Services Inc. boosted its holdings in Sonoco Products by 13.2% during the 2nd quarter. Richardson Financial Services Inc. now owns 2,185 shares of the industrial products company’s stock worth $100,000 after acquiring an additional 255 shares during the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.

Sonoco Products Price Performance

Shares of NYSE SON opened at $51.58 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 1.14. The stock has a fifty day simple moving average of $45.13 and a two-hundred day simple moving average of $44.27. Sonoco Products Company has a 1-year low of $38.65 and a 1-year high of $51.74. The firm has a market cap of $5.09 billion, a price-to-earnings ratio of 8.19, a price-to-earnings-growth ratio of 0.76 and a beta of 0.54.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SON shares. Jefferies Financial Group dropped their price target on shares of Sonoco Products from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Weiss Ratings reissued a “hold (c-)” rating on shares of Sonoco Products in a research report on Wednesday, January 21st. Bank of America raised Sonoco Products from a “neutral” rating to a “buy” rating and upped their target price for the company from $56.00 to $60.00 in a report on Monday, January 5th. Raymond James Financial set a $60.00 price target on Sonoco Products in a report on Monday, January 5th. Finally, Truist Financial upped their price objective on Sonoco Products from $53.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Sonoco Products presently has a consensus rating of “Hold” and an average price target of $54.86.

Sonoco Products Profile

Sonoco Products Company (NYSE: SON) is a global provider of diversified packaging solutions, serving a wide range of consumer, industrial and retail markets. The company offers a broad portfolio that includes rigid paper and plastic containers, flexible packaging, industrial core and tube products, thermoformed plastics, retail point-of-purchase displays, and packaging supply chain services. Through its solutions, Sonoco helps customers in food and beverage, personal care, chemicals, healthcare, home and garden, and electronics industries address their packaging needs, improve product shelf appeal, and optimize logistics efficiency.

With operations in more than 30 countries across North America, South America, Europe, Asia and Africa, Sonoco leverages a global network of manufacturing facilities, recycling centers and distribution channels to meet the demands of multinational and regional customers.