Sonoco Products (NYSE:SON) Shares Sold by My Legacy Advisors LLC

My Legacy Advisors LLC cut its position in Sonoco Products (NYSE:SON) by 7.7% during the fourth quarter, Holdings Channel reports. The firm owned 6,505 shares of the industrial products company’s stock after selling 545 shares during the period. My Legacy Advisors LLC’s holdings in Sonoco Products were worth $307,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Kennebec Savings Bank purchased a new position in shares of Sonoco Products during the 3rd quarter valued at about $27,000. Capital Performance Advisors LLP acquired a new stake in Sonoco Products during the third quarter worth about $33,000. Abich Financial Wealth Management LLC purchased a new position in Sonoco Products during the second quarter valued at approximately $50,000. Wilmington Savings Fund Society FSB acquired a new position in Sonoco Products in the third quarter valued at approximately $71,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Sonoco Products by 821.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,879 shares of the industrial products company’s stock worth $95,000 after purchasing an additional 1,675 shares in the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on SON. Wells Fargo & Company dropped 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 target on Sonoco Products from $66.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Robert W. Baird dropped their price objective on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Citigroup reduced their target price on Sonoco Products from $59.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Truist Financial lifted their price target on shares of Sonoco Products from $63.00 to $68.00 and gave the company a “buy” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $60.17.

Insider Activity at Sonoco Products

In related news, Director Robert R. Hill, Jr. sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $47.95, for a total transaction of $191,800.00. Following the transaction, the director now owns 16,065 shares of the company’s stock, valued at $770,316.75. This trade represents a 19.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.51% of the company’s stock.

Sonoco Products Stock Up 0.3 %

Sonoco Products stock opened at $47.72 on Monday. The firm has a market capitalization of $4.69 billion, a P/E ratio of 16.40, a P/E/G ratio of 0.72 and a beta of 0.68. The stock’s fifty day simple moving average is $49.80 and its 200-day simple moving average is $51.60. Sonoco Products has a twelve month low of $45.93 and a twelve month high of $61.73. The company has a current ratio of 2.36, a quick ratio of 1.91 and a debt-to-equity ratio of 1.74.

Sonoco Products (NYSE:SON) last issued its earnings results on Thursday, October 31st. The industrial products company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.04. Sonoco Products had a net margin of 4.38% and a return on equity of 19.92%. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the company earned $1.46 earnings per share. The firm’s revenue was down 2.0% compared to the same quarter last year. As a group, equities analysts expect that Sonoco Products will post 5.12 earnings per share for the current fiscal year.

About Sonoco Products

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.