Albion Financial Group UT Makes New $84,000 Investment in Sonoco Products (NYSE:SON)

Albion Financial Group UT purchased a new stake in Sonoco Products (NYSE:SON) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 1,722 shares of the industrial products company’s stock, valued at approximately $84,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Kennebec Savings Bank acquired a new stake in Sonoco Products in the 3rd quarter valued at approximately $27,000. Capital Performance Advisors LLP acquired a new stake in shares of Sonoco Products in the third quarter valued at approximately $33,000. Abich Financial Wealth Management LLC bought a new stake in shares of Sonoco Products in the second quarter worth $50,000. Wilmington Savings Fund Society FSB acquired a new position in Sonoco Products during the third quarter worth $71,000. Finally, Northwestern Mutual Wealth Management Co. grew its position 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 purchasing an additional 1,675 shares in the last quarter. 77.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Sonoco Products news, Director Robert R. Hill, Jr. sold 4,000 shares of the stock in a transaction 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 in the company, valued at $770,316.75. This trade represents a 19.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.51% of the company’s stock.

Wall Street Analyst Weigh In

SON has been the topic of several analyst reports. Citigroup cut their price target on shares of Sonoco Products from $59.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Bank of America upped their target price on Sonoco Products from $66.00 to $71.00 and gave the stock a “buy” rating 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 company a “buy” rating in a research note on Monday, January 6th. Robert W. Baird dropped their price objective on 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 decreased their target price 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. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Sonoco Products presently has an average rating of “Moderate Buy” and an average price target of $60.17.

Sonoco Products Stock Performance

Shares of NYSE SON opened at $48.51 on Thursday. Sonoco Products has a 12 month low of $45.93 and a 12 month high of $61.73. The stock has a 50 day moving average of $49.66 and a 200-day moving average of $51.57. 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 has a market capitalization of $4.77 billion, a P/E ratio of 16.67, a P/E/G ratio of 0.79 and a beta of 0.68.

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, beating 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 net margin of 4.38% and a return on equity of 19.92%. The company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.46 earnings per share. As a group, equities research analysts predict that Sonoco Products will post 5.12 EPS for the current year.

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.