Amundi Has $8.62 Million Stock Position in Sonoco Products (NYSE:SON)

Amundi increased its holdings in shares of Sonoco Products (NYSE:SON) by 154.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 182,330 shares of the industrial products company’s stock after buying an additional 110,810 shares during the quarter. Amundi owned 0.19% of Sonoco Products worth $8,619,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Edgestream Partners L.P. lifted its position in Sonoco Products by 422.2% in the 4th quarter. Edgestream Partners L.P. now owns 153,350 shares of the industrial products company’s stock valued at $7,491,000 after acquiring an additional 123,983 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Sonoco Products in the 4th quarter valued at about $6,012,000. Arizona State Retirement System lifted its holdings in shares of Sonoco Products by 0.8% in the fourth quarter. Arizona State Retirement System now owns 28,516 shares of the industrial products company’s stock valued at $1,393,000 after purchasing an additional 224 shares in the last quarter. M&T Bank Corp boosted its position in shares of Sonoco Products by 4.4% during the fourth quarter. M&T Bank Corp now owns 46,662 shares of the industrial products company’s stock worth $2,280,000 after buying an additional 1,963 shares during the period. Finally, Atria Investments Inc grew its holdings in shares of Sonoco Products by 5.4% during the fourth quarter. Atria Investments Inc now owns 29,952 shares of the industrial products company’s stock worth $1,463,000 after buying an additional 1,529 shares in the last quarter. 77.69% of the stock is currently owned by institutional investors.

Insider Activity

In other Sonoco Products news, Director John R. Haley purchased 3,000 shares of Sonoco Products stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average price of $46.76 per share, with a total value of $140,280.00. Following the transaction, the director now owns 18,558 shares in the company, valued at $867,772.08. This trade represents a 19.28 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert R. Hill, Jr. sold 4,000 shares of Sonoco Products stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $47.95, for a total transaction of $191,800.00. Following the transaction, the director now owns 16,065 shares of the company’s stock, valued at $770,316.75. This represents a 19.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by company insiders.

Sonoco Products Stock Up 2.1 %

Shares of NYSE SON opened at $45.66 on Friday. Sonoco Products has a 1 year low of $44.35 and a 1 year high of $61.73. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.79 and a quick ratio of 1.91. The firm has a market cap of $4.49 billion, a PE ratio of 27.67, a price-to-earnings-growth ratio of 0.76 and a beta of 0.61. The company has a 50 day simple moving average of $47.31 and a 200 day simple moving average of $50.60.

Sonoco Products (NYSE:SON) last announced its earnings results on Tuesday, February 18th. The industrial products company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.01). The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.67 billion. Sonoco Products had a net margin of 2.60% and a return on equity of 20.81%. On average, research analysts forecast that Sonoco Products will post 6.1 EPS for the current year.

Sonoco Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 26th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.56%. The ex-dividend date was Wednesday, February 26th. Sonoco Products’s dividend payout ratio (DPR) is 126.06%.

Wall Street Analyst Weigh In

SON has been the topic of several analyst reports. Citigroup cut their price target on shares of Sonoco Products from $59.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Bank of America upped their target price on Sonoco Products from $66.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Wells Fargo & Company decreased their price target on Sonoco Products from $50.00 to $48.00 and set an “underweight” rating for the company in a research note on Monday, February 24th. Truist Financial lowered their price target on Sonoco Products from $68.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Finally, StockNews.com raised Sonoco Products from a “sell” rating to a “hold” rating in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $58.50.

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.