Bfsg LLC Has $224,000 Position in Sonoco Products (NYSE:SON)

Bfsg LLC boosted its position in Sonoco Products (NYSE:SON) by 22.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,586 shares of the industrial products company’s stock after purchasing an additional 836 shares during the period. Bfsg LLC’s holdings in Sonoco Products were worth $224,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Private Management Group Inc. increased its holdings in Sonoco Products by 27.7% in the 4th quarter. Private Management Group Inc. now owns 584,390 shares of the industrial products company’s stock worth $28,547,000 after purchasing an additional 126,867 shares in the last quarter. Quilter Plc grew its position in shares of Sonoco Products by 3.1% in the 4th quarter. Quilter Plc now owns 299,178 shares of the industrial products company’s stock valued at $14,615,000 after buying an additional 8,895 shares during the last quarter. Synergy Asset Management LLC grew its position in shares of Sonoco Products by 9.0% in the 4th quarter. Synergy Asset Management LLC now owns 66,754 shares of the industrial products company’s stock valued at $3,610,000 after buying an additional 5,505 shares during the last quarter. Jane Street Group LLC grew its position in shares of Sonoco Products by 312.1% in 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. Finally, Nordea Investment Management AB grew its position in shares of Sonoco Products by 63.2% in 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. Institutional investors and hedge funds own 77.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Robert W. Baird reduced their price target on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Truist Financial upped their price target on Sonoco Products from $63.00 to $68.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Citigroup reduced their price target on Sonoco Products from $59.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company reduced their price target on Sonoco Products from $52.00 to $50.00 and set an “underweight” rating on the stock in a research report on Monday, January 6th. Finally, Bank of America upped their target price on Sonoco Products from $66.00 to $71.00 and gave the company a “buy” rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Sonoco Products presently has an average 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 the 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 owns 16,065 shares in the company, valued at approximately $770,316.75. This represents a 19.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.51% of the company’s stock.

Sonoco Products Stock Up 1.0 %

Shares of Sonoco Products stock opened at $48.22 on Wednesday. Sonoco Products has a one year low of $45.93 and a one year high of $61.73. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.36 and a quick ratio of 1.91. The stock’s 50-day moving average is $48.46 and its 200 day moving average is $51.11. The firm has a market cap of $4.74 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 0.76 and a beta of 0.67.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.01). Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. Equities research analysts anticipate that Sonoco Products will post 5.08 EPS for the current year.

Sonoco Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 26th will be issued a $0.52 dividend. The ex-dividend date is Wednesday, February 26th. This represents a $2.08 annualized dividend and a yield of 4.31%. Sonoco Products’s payout ratio is currently 71.48%.

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.