Wealthspire Advisors LLC Has $227,000 Stock Holdings in Sonoco Products (NYSE:SON)

Wealthspire Advisors LLC decreased its holdings in shares of Sonoco Products (NYSE:SON) by 22.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,643 shares of the industrial products company’s stock after selling 1,369 shares during the period. Wealthspire Advisors LLC’s holdings in Sonoco Products were worth $227,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Kennebec Savings Bank bought a new position in Sonoco Products during the third quarter worth $27,000. Capital Performance Advisors LLP acquired a new position in shares of Sonoco Products during the third quarter valued at about $33,000. Wilmington Savings Fund Society FSB bought a new position in shares of Sonoco Products during the 3rd quarter worth about $71,000. Principal Securities Inc. increased its position in Sonoco Products by 35.0% in the 4th quarter. Principal Securities Inc. now owns 1,355 shares of the industrial products company’s stock valued at $66,000 after buying an additional 351 shares in the last quarter. Finally, Albion Financial Group UT bought a new stake in Sonoco Products in the 4th quarter valued at about $84,000. Institutional investors and hedge funds own 77.69% of the company’s stock.

Sonoco Products Stock Performance

NYSE:SON opened at $46.57 on Friday. The business’s fifty day moving average is $47.84 and its 200 day moving average is $50.95. Sonoco Products has a 52-week low of $44.35 and a 52-week high of $61.73. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of 28.22, a PEG ratio of 0.76 and a beta of 0.67. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.91 and a current ratio of 0.79.

Sonoco Products (NYSE:SON) last released its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.01). Sonoco Products had a net margin of 2.60% and a return on equity of 20.81%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Research analysts predict that Sonoco Products will post 6.1 EPS for the current year.

Sonoco Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Wednesday, February 26th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $2.08 annualized dividend and a dividend yield of 4.47%. Sonoco Products’s dividend payout ratio is currently 126.06%.

Insider Activity at Sonoco Products

In other news, Director John R. Haley purchased 3,000 shares of Sonoco Products stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average cost of $46.76 per share, with a total value of $140,280.00. Following the completion of the purchase, the director now directly owns 18,558 shares in the company, valued at approximately $867,772.08. This trade represents a 19.28 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert R. Hill, Jr. sold 4,000 shares of the stock in a transaction dated 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 transaction, the director now owns 16,065 shares of the company’s stock, valued at approximately $770,316.75. The trade was a 19.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on SON shares. StockNews.com lowered Sonoco Products from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Citigroup lowered their price objective on shares of Sonoco Products from $59.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Wells Fargo & Company reduced their price objective on shares of Sonoco Products from $50.00 to $48.00 and set an “underweight” rating for the company in a report on Monday. Robert W. Baird lowered 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. Finally, Truist Financial cut their price target on Sonoco Products from $68.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $58.50.

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.