My Legacy Advisors LLC Sells 545 Shares of Sonoco Products (NYSE:SON)

My Legacy Advisors LLC lowered its position in Sonoco Products (NYSE:SON) by 7.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,505 shares of the industrial products company’s stock after selling 545 shares during the quarter. My Legacy Advisors LLC’s holdings in Sonoco Products were worth $307,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Kennebec Savings Bank purchased a new position in shares of Sonoco Products in the 3rd quarter worth about $27,000. Capital Performance Advisors LLP bought a new stake in Sonoco Products in the 3rd quarter worth approximately $33,000. Abich Financial Wealth Management LLC purchased a new stake in Sonoco Products in the second quarter worth approximately $50,000. Wilmington Savings Fund Society FSB bought a new position in Sonoco Products during the third quarter valued at approximately $71,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Sonoco Products by 821.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,879 shares of the industrial products company’s stock worth $95,000 after acquiring an additional 1,675 shares in the last quarter. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on SON shares. Bank of America boosted their price target on shares of Sonoco Products from $66.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Citigroup dropped their target price 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 lowered their price objective on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Wells Fargo & Company cut their target price on shares of Sonoco Products from $52.00 to $50.00 and set an “underweight” rating on the stock in a report on Monday, January 6th. Finally, Truist Financial upped their price target on shares of Sonoco Products from $63.00 to $68.00 and gave the company a “buy” rating in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.17.

Sonoco Products Trading Up 0.3 %

Shares of NYSE:SON opened at $47.72 on Monday. The stock has a 50 day moving average of $49.80 and a 200 day moving average of $51.60. The company has a market cap of $4.69 billion, a PE ratio of 16.40, a price-to-earnings-growth 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 company has a current ratio of 2.36, a quick ratio of 1.91 and a debt-to-equity ratio of 1.74.

Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Sonoco Products had a net margin of 4.38% and a return on equity of 19.92%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.46 earnings per share. As a group, equities research analysts expect that Sonoco Products will post 5.12 EPS for the current year.

Insiders Place Their Bets

In other news, Director Robert R. Hill, Jr. sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $47.95, for a total value of $191,800.00. Following the completion of the sale, the director now owns 16,065 shares in the company, valued at approximately $770,316.75. This trade represents a 19.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.51% of the company’s stock.

Sonoco Products 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.