Sonoco Products (NYSE:SON) Holdings Decreased by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC decreased its holdings in shares of Sonoco Products (NYSE:SON) by 4.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,048 shares of the industrial products company’s stock after selling 562 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Sonoco Products were worth $589,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. AQR Capital Management LLC grew its stake in Sonoco Products by 80.8% in the second quarter. AQR Capital Management LLC now owns 555,575 shares of the industrial products company’s stock valued at $28,179,000 after purchasing an additional 248,236 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of Sonoco Products by 312.1% during the 3rd quarter. Jane Street Group LLC now owns 185,351 shares of the industrial products company’s stock valued at $10,126,000 after buying an additional 140,370 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Sonoco Products by 63.2% during the 4th quarter. Nordea Investment Management AB now owns 1,129,133 shares of the industrial products company’s stock valued at $55,181,000 after buying an additional 437,128 shares during the last quarter. Versor Investments LP acquired a new stake in shares of Sonoco Products during the 3rd quarter valued at about $970,000. Finally, Speece Thorson Capital Group Inc. lifted its holdings in shares of Sonoco Products by 18.6% during the 3rd quarter. Speece Thorson Capital Group Inc. now owns 305,971 shares of the industrial products company’s stock valued at $16,715,000 after buying an additional 47,928 shares during the last quarter. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Sonoco Products Stock Down 0.4 %

SON opened at $48.44 on Monday. The business has a 50 day moving average price of $49.59 and a 200 day moving average price of $51.59. Sonoco Products has a twelve month low of $45.93 and a twelve month high of $61.73. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.91 and a current ratio of 2.36. The firm has a market cap of $4.76 billion, a P/E ratio of 16.65, a price-to-earnings-growth ratio of 0.78 and a beta of 0.68.

Sonoco Products (NYSE:SON) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.45 by $0.04. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.72 billion. Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.46 EPS. Research analysts forecast that Sonoco Products will post 5.12 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SON. Citigroup reduced 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. Robert W. Baird reduced their price target on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating for the company 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 company a “buy” rating in a report on Monday, January 6th. Truist Financial lifted their price target on Sonoco Products from $63.00 to $68.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Wells Fargo & Company reduced their price target on Sonoco Products from $52.00 to $50.00 and set an “underweight” rating for the company in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.17.

Insiders Place Their Bets

In other Sonoco Products news, Director Robert R. Hill, Jr. sold 4,000 shares of Sonoco Products stock in a transaction that occurred on 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 directly 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.51% of the company’s stock.

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.