Sonoco Products (NYSE:SON) Shares Acquired by Centennial Wealth Advisory LLC

Centennial Wealth Advisory LLC boosted its holdings in Sonoco Products (NYSE:SON) by 15.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,530 shares of the industrial products company’s stock after purchasing an additional 851 shares during the quarter. Centennial Wealth Advisory LLC’s holdings in Sonoco Products were worth $319,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Kennebec Savings Bank acquired a new position in Sonoco Products in the third quarter worth $27,000. Capital Performance Advisors LLP acquired a new position in Sonoco Products in the third quarter worth $33,000. Wilmington Savings Fund Society FSB bought a new stake in Sonoco Products in the third quarter valued at $71,000. Albion Financial Group UT bought a new stake in Sonoco Products in the fourth quarter valued at $84,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Sonoco Products by 821.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,879 shares of the industrial products company’s stock valued at $95,000 after buying an additional 1,675 shares during the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

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

Sonoco Products Price Performance

Shares of Sonoco Products stock opened at $48.14 on Thursday. The company has a current ratio of 2.36, a quick ratio of 1.91 and a debt-to-equity ratio of 1.74. The company’s 50-day moving average price is $49.19 and its two-hundred day moving average price is $51.41. Sonoco Products has a 52 week low of $45.93 and a 52 week high of $61.73. The stock has a market cap of $4.73 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 0.76 and a beta of 0.67.

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.