D.B. Root & Company LLC Raises Holdings in Sonoco Products (NYSE:SON)

D.B. Root & Company LLC lifted its holdings in Sonoco Products (NYSE:SON) by 10.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 16,046 shares of the industrial products company’s stock after purchasing an additional 1,465 shares during the quarter. D.B. Root & Company LLC’s holdings in Sonoco Products were worth $784,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SON. Kennebec Savings Bank purchased a new stake in shares of Sonoco Products during the 3rd quarter worth $27,000. Capital Performance Advisors LLP acquired a new stake in shares of Sonoco Products in the third quarter valued at about $33,000. Abich Financial Wealth Management LLC acquired a new stake in shares of Sonoco Products in the second quarter valued at about $50,000. Wilmington Savings Fund Society FSB purchased a new stake in Sonoco Products during the third quarter worth about $71,000. Finally, Albion Financial Group UT acquired a new position in Sonoco Products during the fourth quarter worth about $84,000. Institutional investors and hedge funds own 77.69% of the company’s stock.

Insider Activity

In related 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 directly owns 16,065 shares of the company’s stock, valued at approximately $770,316.75. The trade was a 19.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.51% of the company’s stock.

Sonoco Products Trading Down 1.4 %

Shares of SON stock opened at $48.51 on Thursday. Sonoco Products has a 1-year low of $45.93 and a 1-year high of $61.73. The firm’s 50-day simple moving average is $49.66 and its 200-day simple moving average is $51.57. The firm has a market cap of $4.77 billion, a P/E ratio of 16.67, a PEG ratio of 0.79 and a beta of 0.68. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.36 and a quick ratio of 1.91.

Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.49 earnings per share (EPS) 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 company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the previous year, the company earned $1.46 EPS. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, equities analysts forecast that Sonoco Products will post 5.12 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SON shares. Citigroup reduced their price target 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. Truist Financial lifted their price objective on Sonoco Products from $63.00 to $68.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Robert W. Baird lowered their target price on 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 lifted their price target on Sonoco Products from $66.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Wells Fargo & Company lowered their price objective on shares of Sonoco Products from $52.00 to $50.00 and set an “underweight” rating on the stock in a research note on Monday, January 6th. One equities 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. According to data from MarketBeat.com, Sonoco Products presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.17.

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.