Meadow Creek Wealth Advisors LLC Takes Position in Sonoco Products (NYSE:SON)

Meadow Creek Wealth Advisors LLC purchased a new stake in shares of Sonoco Products (NYSE:SON) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 238,936 shares of the industrial products company’s stock, valued at approximately $11,672,000. Sonoco Products accounts for about 8.4% of Meadow Creek Wealth Advisors LLC’s portfolio, making the stock its biggest holding. Meadow Creek Wealth Advisors LLC owned about 0.24% of Sonoco Products at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Kennebec Savings Bank acquired a new position in shares of Sonoco Products in the 3rd quarter valued at $27,000. Capital Performance Advisors LLP bought a new stake in Sonoco Products in the third quarter valued at about $33,000. Wilmington Savings Fund Society FSB bought a new position in Sonoco Products during the third quarter worth about $71,000. Albion Financial Group UT bought a new stake in shares of Sonoco Products in the 4th quarter valued at about $84,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of 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 valued at $95,000 after acquiring an additional 1,675 shares during the period. Institutional investors own 77.69% of the company’s stock.

Sonoco Products Trading Up 0.7 %

NYSE:SON opened at $48.14 on Thursday. The company has a market cap of $4.73 billion, a P/E ratio of 16.54, a price-to-earnings-growth ratio of 0.76 and a beta of 0.67. Sonoco Products has a twelve month low of $45.93 and a twelve month high of $61.73. The business has a 50 day moving average price of $49.19 and a two-hundred day moving average price of $51.41. The company has a quick ratio of 1.91, a current ratio of 2.36 and a debt-to-equity ratio of 1.74.

Insider Buying and Selling

In other Sonoco Products news, Director Robert R. Hill, Jr. sold 4,000 shares of the business’s 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 transaction, the director now owns 16,065 shares of the company’s stock, valued at $770,316.75. The trade was a 19.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.51% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SON. Robert W. Baird cut their target price on shares of Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Bank of America raised their price objective on Sonoco Products from $66.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Citigroup lowered their price target on Sonoco Products from $59.00 to $55.00 and set a “buy” rating for the company in a report on Monday, January 6th. Truist Financial raised their price target on Sonoco Products from $63.00 to $68.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Wells Fargo & Company decreased their price objective 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 analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Sonoco Products has a consensus rating of “Moderate Buy” and an average price target of $60.17.

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.