Sonoco Products (NYSE:SON) Director Robert R. Hill, Jr. Sells 4,000 Shares

Sonoco Products (NYSE:SON) 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 sale, the director now directly owns 16,065 shares in the company, valued at approximately $770,316.75. The trade was a 19.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Sonoco Products Trading Down 2.8 %

NYSE:SON opened at $45.97 on Friday. The company has a market capitalization of $4.52 billion, a P/E ratio of 15.80, a PEG ratio of 2.14 and a beta of 0.68. 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 has a 12 month low of $45.93 and a 12 month high of $61.73. The firm has a fifty day simple moving average of $50.25 and a 200-day simple moving average of $51.76.

Sonoco Products (NYSE:SON) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. The firm’s revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.46 EPS. On average, equities research analysts anticipate that Sonoco Products will post 5.09 earnings per share for the current year.

Sonoco Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 8th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.52%. Sonoco Products’s dividend payout ratio (DPR) is presently 71.48%.

Wall Street Analyst Weigh In

SON has been the topic of a number of recent analyst reports. Bank of America raised their price target on shares of Sonoco Products from $66.00 to $71.00 and gave the company a “buy” rating in a report on Monday, January 6th. Citigroup decreased their target price on shares of Sonoco Products from $59.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Robert W. Baird cut their price target on shares of Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Truist Financial increased their price objective on Sonoco Products from $63.00 to $68.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, 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 research note 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. According to data from MarketBeat, Sonoco Products presently has an average rating of “Moderate Buy” and an average price target of $60.17.

Hedge Funds Weigh In On Sonoco Products

A number of institutional investors have recently bought and sold shares of the business. Kennebec Savings Bank acquired a new stake in shares of Sonoco Products in the third quarter worth $27,000. Capital Performance Advisors LLP acquired a new position in Sonoco Products during the third quarter valued at $33,000. Abich Financial Wealth Management LLC purchased a new stake in Sonoco Products in the second quarter valued at $50,000. Wilmington Savings Fund Society FSB acquired a new stake in Sonoco Products during the 3rd quarter worth about $71,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Sonoco Products by 821.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,879 shares of the industrial products company’s stock valued at $95,000 after buying an additional 1,675 shares during the last quarter. 77.69% of the stock is owned by hedge funds and other institutional investors.

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.