Nvwm LLC Sells 974 Shares of Sonoco Products (NYSE:SON)

Nvwm LLC trimmed its position in shares of Sonoco Products (NYSE:SON) by 2.5% during the fourth quarter, HoldingsChannel reports. The firm owned 37,360 shares of the industrial products company’s stock after selling 974 shares during the quarter. Nvwm LLC’s holdings in Sonoco Products were worth $1,825,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its position in Sonoco Products by 2.3% in the third quarter. Geode Capital Management LLC now owns 1,863,756 shares of the industrial products company’s stock valued at $101,842,000 after purchasing an additional 42,701 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Sonoco Products by 63.2% during the 4th quarter. Nordea Investment Management AB now owns 1,129,133 shares of the industrial products company’s stock worth $55,181,000 after buying an additional 437,128 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Sonoco Products by 50.4% in the third 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 purchasing an additional 344,658 shares during the last quarter. FMR LLC lifted its holdings in Sonoco Products by 70.1% during the 3rd quarter. FMR LLC now owns 559,596 shares of the industrial products company’s stock worth $30,571,000 after purchasing an additional 230,709 shares during the last quarter. Finally, Private Management Group Inc. bought a new position in Sonoco Products during the third quarter worth about $24,994,000. 77.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SON has been the subject of a number of recent analyst reports. Bank of America upped their target price on Sonoco Products from $66.00 to $71.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Robert W. Baird dropped 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. Truist Financial raised their price target on shares of Sonoco Products from $63.00 to $68.00 and gave the company a “buy” rating in a research note on Monday, January 6th. 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 research report on Monday, January 6th. Finally, Citigroup dropped their price target on Sonoco Products from $59.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, January 6th. One equities research 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 stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.17.

Sonoco Products Trading Up 0.4 %

SON opened at $47.82 on Wednesday. Sonoco Products has a twelve month low of $45.93 and a twelve month high of $61.73. The company has a fifty day moving average of $49.25 and a 200-day moving average of $51.44. The stock has a market cap of $4.70 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 0.76 and a beta of 0.67. The company has a quick ratio of 1.91, a current ratio of 2.36 and a debt-to-equity ratio of 1.74.

Insider Transactions at Sonoco Products

In other news, Director Robert R. Hill, Jr. sold 4,000 shares of the 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 $770,316.75. This represents a 19.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.51% of the company’s stock.

About Sonoco Products

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.