Sonoco Products (NYSE:SON) Shares Sold by Baker Ellis Asset Management LLC

Baker Ellis Asset Management LLC trimmed its stake in shares of Sonoco Products (NYSE:SON) by 18.6% during the fourth quarter, Holdings Channel reports. The firm owned 7,865 shares of the industrial products company’s stock after selling 1,800 shares during the period. Baker Ellis Asset Management LLC’s holdings in Sonoco Products were worth $384,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Private Management Group Inc. acquired a new stake in Sonoco Products in the 3rd quarter valued at approximately $24,994,000. Nordea Investment Management AB increased its position in 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 acquiring an additional 437,128 shares during the period. Charles Schwab Investment Management Inc. increased its position in Sonoco Products by 50.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,029,166 shares of the industrial products company’s stock valued at $56,223,000 after acquiring an additional 344,658 shares during the period. AQR Capital Management LLC increased its position in Sonoco Products by 80.8% in the 2nd quarter. AQR Capital Management LLC now owns 555,575 shares of the industrial products company’s stock valued at $28,179,000 after acquiring an additional 248,236 shares during the period. Finally, FMR LLC increased its position in Sonoco Products by 70.1% in the 3rd quarter. FMR LLC now owns 559,596 shares of the industrial products company’s stock valued at $30,571,000 after acquiring an additional 230,709 shares during the period. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on SON shares. Truist Financial raised their target price 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 lowered 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. Robert W. Baird lowered 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. Wells Fargo & Company lowered 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 lifted their price target 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 investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.17.

Sonoco Products Stock Performance

SON opened at $48.61 on Friday. The firm has a market cap of $4.78 billion, a PE ratio of 16.70, a P/E/G ratio of 0.79 and a beta of 0.68. 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 business has a fifty day simple moving average of $49.63 and a 200-day simple moving average of $51.55. Sonoco Products has a fifty-two week low of $45.93 and a fifty-two week high of $61.73.

Sonoco Products (NYSE:SON) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.04. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates 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 was down 2.0% compared to the same quarter last year. During the same period last year, the company posted $1.46 EPS. As a group, equities analysts predict that Sonoco Products will post 5.12 EPS for the current fiscal year.

Insider Transactions at Sonoco Products

In other news, Director Robert R. Hill, Jr. sold 4,000 shares of the firm’s stock in a transaction 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 completion of the sale, the director now owns 16,065 shares of the company’s stock, valued at $770,316.75. This trade represents a 19.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.51% of the stock is currently owned by insiders.

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.