Juncture Wealth Strategies LLC Trims Stake in Sonoco Products (NYSE:SON)

Juncture Wealth Strategies LLC decreased its holdings in Sonoco Products (NYSE:SON) by 7.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,050 shares of the industrial products company’s stock after selling 485 shares during the quarter. Juncture Wealth Strategies LLC’s holdings in Sonoco Products were worth $296,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SON. Mercer Global Advisors Inc. ADV grew its position in Sonoco Products by 2.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 8,862 shares of the industrial products company’s stock valued at $445,000 after buying an additional 237 shares during the last quarter. Wedmont Private Capital raised its holdings in Sonoco Products by 3.9% during the fourth quarter. Wedmont Private Capital now owns 6,652 shares of the industrial products company’s stock worth $306,000 after purchasing an additional 247 shares during the last quarter. Pallas Capital Advisors LLC boosted its position in Sonoco Products by 6.4% during the fourth quarter. Pallas Capital Advisors LLC now owns 4,701 shares of the industrial products company’s stock worth $230,000 after purchasing an additional 284 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its position in shares of Sonoco Products by 13.9% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 2,373 shares of the industrial products company’s stock worth $130,000 after buying an additional 289 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its holdings in shares of Sonoco Products by 2.2% in the fourth quarter. Park Avenue Securities LLC now owns 14,084 shares of the industrial products company’s stock valued at $688,000 after purchasing an additional 298 shares in the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Bank of America upped their price objective on Sonoco Products from $66.00 to $71.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Citigroup lowered their price objective on shares of Sonoco Products from $59.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Robert W. Baird cut 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. 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 report on Monday, January 6th. Finally, Wells Fargo & Company decreased their target price on Sonoco Products from $52.00 to $50.00 and set an “underweight” rating for the company in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.17.

Insider Activity

In other news, Director Robert R. Hill, Jr. sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $47.95, for a total value of $191,800.00. Following the transaction, the director now directly owns 16,065 shares in the company, valued at approximately $770,316.75. This trade represents a 19.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.51% of the company’s stock.

Sonoco Products Trading Down 0.4 %

Shares of SON opened at $48.44 on Friday. Sonoco Products has a one year low of $45.93 and a one year high of $61.73. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.91 and a current ratio of 2.36. The company has a market capitalization of $4.76 billion, a P/E ratio of 16.65, a P/E/G ratio of 0.78 and a beta of 0.68. The stock has a 50-day moving average price of $49.59 and a 200 day moving average price of $51.57.

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

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.