Steph & Co. Invests $263,000 in Sonoco Products (NYSE:SON)

Steph & Co. acquired a new stake in Sonoco Products (NYSE:SON) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 5,384 shares of the industrial products company’s stock, valued at approximately $263,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SON. Park Avenue Securities LLC lifted its holdings in shares of Sonoco Products by 2.2% in the fourth quarter. Park Avenue Securities LLC now owns 14,084 shares of the industrial products company’s stock valued at $688,000 after purchasing an additional 298 shares in the last quarter. Code Waechter LLC raised its position in Sonoco Products by 16.8% in the 4th quarter. Code Waechter LLC now owns 9,415 shares of the industrial products company’s stock valued at $460,000 after buying an additional 1,354 shares during the last quarter. Pallas Capital Advisors LLC lifted its stake in Sonoco Products by 6.4% in the 4th quarter. Pallas Capital Advisors LLC now owns 4,701 shares of the industrial products company’s stock valued at $230,000 after acquiring an additional 284 shares in the last quarter. Elevated Capital Advisors LLC boosted its position in Sonoco Products by 9.1% during the 4th quarter. Elevated Capital Advisors LLC now owns 11,806 shares of the industrial products company’s stock worth $577,000 after acquiring an additional 985 shares during the last quarter. Finally, Wedmont Private Capital grew its stake in shares of Sonoco Products by 3.9% during the 4th quarter. Wedmont Private Capital now owns 6,652 shares of the industrial products company’s stock worth $306,000 after acquiring an additional 247 shares in the last quarter. 77.69% of the stock is owned by institutional investors and hedge funds.

Sonoco Products Stock Performance

SON opened at $47.26 on Thursday. The company has a quick ratio of 1.91, a current ratio of 2.36 and a debt-to-equity ratio of 1.74. The stock has a market cap of $4.64 billion, a price-to-earnings ratio of 16.24, a PEG ratio of 0.72 and a beta of 0.68. Sonoco Products has a 12-month low of $45.93 and a 12-month high of $61.73. The business has a 50 day moving average of $49.92 and a 200-day moving average of $51.62.

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. On average, equities research analysts expect that Sonoco Products will post 5.12 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Robert R. Hill, Jr. sold 4,000 shares of the company’s 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 of the company’s stock, valued at approximately $770,316.75. This represents a 19.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.51% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on SON. Truist Financial increased their target price on shares of Sonoco Products from $63.00 to $68.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Citigroup decreased their price objective on Sonoco Products from $59.00 to $55.00 and set a “buy” rating for the company in a report on Monday, January 6th. Wells Fargo & Company dropped their target price on Sonoco Products from $52.00 to $50.00 and set an “underweight” rating on the stock in a report on Monday, January 6th. Bank of America raised their price target on Sonoco Products from $66.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, 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. 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $60.17.

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.