Synergy Asset Management LLC Buys 5,505 Shares of Sonoco Products (NYSE:SON)

Synergy Asset Management LLC boosted its position in shares of Sonoco Products (NYSE:SON) by 9.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,754 shares of the industrial products company’s stock after acquiring an additional 5,505 shares during the period. Synergy Asset Management LLC owned 0.07% of Sonoco Products worth $3,610,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jane Street Group LLC grew its position in shares of Sonoco Products by 312.1% during the 3rd quarter. Jane Street Group LLC now owns 185,351 shares of the industrial products company’s stock valued at $10,126,000 after purchasing an additional 140,370 shares in the last quarter. Nordea Investment Management AB boosted its stake in Sonoco Products by 63.2% during the fourth quarter. Nordea Investment Management AB now owns 1,129,133 shares of the industrial products company’s stock valued at $55,181,000 after buying an additional 437,128 shares during the period. Versor Investments LP purchased a new position in Sonoco Products during the third quarter worth about $970,000. Speece Thorson Capital Group Inc. increased its stake in Sonoco Products by 18.6% in the 3rd quarter. Speece Thorson Capital Group Inc. now owns 305,971 shares of the industrial products company’s stock worth $16,715,000 after acquiring an additional 47,928 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of Sonoco Products by 70.1% in the 3rd quarter. FMR LLC now owns 559,596 shares of the industrial products company’s stock valued at $30,571,000 after acquiring an additional 230,709 shares in the last quarter. Institutional investors own 77.69% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Bank of America boosted their price objective on Sonoco Products from $66.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Wells Fargo & Company cut their price target on shares of Sonoco Products from $52.00 to $50.00 and set an “underweight” rating for the company in a research note on Monday, January 6th. Truist Financial raised their price objective 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. Citigroup cut their target price on shares of Sonoco Products from $59.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Robert W. Baird lowered their price target on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.17.

Sonoco Products Price Performance

SON stock opened at $48.24 on Thursday. 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 firm has a market cap of $4.74 billion, a P/E ratio of 16.58, a P/E/G ratio of 0.78 and a beta of 0.68. The firm’s fifty day moving average is $49.52 and its 200 day moving average is $51.54. Sonoco Products has a 52 week low of $45.93 and a 52 week high of $61.73.

Sonoco Products (NYSE:SON) last released its quarterly earnings data 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 firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.72 billion. Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. The company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.46 earnings per share. Research analysts predict that Sonoco Products will post 5.12 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Robert R. Hill, Jr. sold 4,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $47.95, for a total transaction of $191,800.00. Following the completion of the sale, the director now owns 16,065 shares of the company’s stock, valued at approximately $770,316.75. This represents a 19.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.51% of the stock is owned by corporate insiders.

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.