Sound Income Strategies LLC Has $13.62 Million Stake in Sonoco Products (NYSE:SON)

Sound Income Strategies LLC increased its position in shares of Sonoco Products (NYSE:SON) by 53.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 278,729 shares of the industrial products company’s stock after purchasing an additional 96,873 shares during the period. Sound Income Strategies LLC owned approximately 0.28% of Sonoco Products worth $13,616,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV boosted its position in Sonoco Products by 2.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 8,862 shares of the industrial products company’s stock valued at $445,000 after buying an additional 237 shares in the last quarter. Wedmont Private Capital lifted its stake in shares of Sonoco Products by 3.9% in the 4th quarter. Wedmont Private Capital now owns 6,652 shares of the industrial products company’s stock valued at $306,000 after acquiring an additional 247 shares during the last quarter. Pallas Capital Advisors LLC boosted its holdings in shares of Sonoco Products by 6.4% during 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. Creative Financial Designs Inc. ADV grew its position in Sonoco Products by 13.9% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 2,373 shares of the industrial products company’s stock worth $130,000 after acquiring an additional 289 shares during the last quarter. Finally, Park Avenue Securities LLC increased its holdings in Sonoco Products by 2.2% in the 4th quarter. Park Avenue Securities LLC now owns 14,084 shares of the industrial products company’s stock worth $688,000 after purchasing an additional 298 shares in the last quarter. 77.69% of the stock is currently owned by institutional investors.

Sonoco Products Price Performance

Shares of NYSE SON opened at $48.61 on Friday. The company has a market capitalization of $4.78 billion, a PE ratio of 16.70, a P/E/G ratio of 0.78 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. Sonoco Products has a twelve month low of $45.93 and a twelve month high of $61.73. The firm has a fifty day simple moving average of $49.63 and a 200 day simple moving average of $51.55.

Sonoco Products (NYSE:SON) last posted 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. Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the company posted $1.46 EPS. The business’s quarterly revenue was down 2.0% on a year-over-year basis. On average, sell-side analysts forecast that Sonoco Products will post 5.12 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on SON shares. Wells Fargo & Company cut their price target 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. Bank of America lifted their target price on shares of Sonoco Products from $66.00 to $71.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Citigroup decreased their price target 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. Truist Financial lifted their price target 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. Finally, Robert W. Baird decreased their price objective on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating for the company in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $60.17.

Insider Buying and Selling at Sonoco Products

In other news, Director Robert R. Hill, Jr. sold 4,000 shares of Sonoco Products stock in a transaction on 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 $770,316.75. The trade was a 19.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.51% of the company’s stock.

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.