Teacher Retirement System of Texas Has $574,000 Stock Position in Sonoco Products Company $SON

Teacher Retirement System of Texas cut its position in Sonoco Products Company (NYSE:SON) by 46.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,314 shares of the industrial products company’s stock after selling 11,492 shares during the period. Teacher Retirement System of Texas’ holdings in Sonoco Products were worth $574,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. TD Waterhouse Canada Inc. acquired a new stake in Sonoco Products in the second quarter valued at approximately $30,000. True Wealth Design LLC lifted its holdings in shares of Sonoco Products by 172.5% in the 3rd quarter. True Wealth Design LLC now owns 744 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 471 shares in the last quarter. SouthState Corp grew 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 purchasing an additional 1,010 shares during the period. EverSource Wealth Advisors LLC grew its position in Sonoco Products by 315.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,587 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 1,205 shares during the period. Finally, Richardson Financial Services Inc. increased its stake 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 valued at $100,000 after purchasing an additional 255 shares in the last quarter. 77.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SON has been the topic of a number of recent research reports. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $47.00 price objective (down from $52.00) on shares of Sonoco Products in a research note on Tuesday, January 6th. Truist Financial raised their price target on shares of Sonoco Products from $53.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Bank of America upgraded Sonoco Products from a “neutral” rating to a “buy” rating and lifted their price target for the company from $56.00 to $60.00 in a research note on Monday, January 5th. UBS Group increased their price objective on Sonoco Products from $44.00 to $48.00 and gave the stock a “neutral” rating in a research note on Monday, January 12th. Finally, Jefferies Financial Group dropped their target price on Sonoco Products from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, October 24th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $54.86.

Sonoco Products Stock Performance

Shares of Sonoco Products stock opened at $51.58 on Thursday. The business’s fifty day simple moving average is $45.13 and its 200 day simple moving average is $44.27. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 1.14. Sonoco Products Company has a 12 month low of $38.65 and a 12 month high of $51.74. The firm has a market capitalization of $5.09 billion, a P/E ratio of 8.19, a price-to-earnings-growth ratio of 0.76 and a beta of 0.54.

Sonoco Products Company 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.