Equitable Trust Co. Decreases Stake in Sonoco Products (NYSE:SON)

Equitable Trust Co. lowered its position in shares of Sonoco Products (NYSE:SON) by 5.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 17,993 shares of the industrial products company’s stock after selling 1,000 shares during the quarter. Equitable Trust Co.’s holdings in Sonoco Products were worth $879,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Wedmont Private Capital grew its holdings in shares of Sonoco Products by 3.9% during the 4th quarter. Wedmont Private Capital now owns 6,652 shares of the industrial products company’s stock worth $306,000 after purchasing an additional 247 shares during the period. Pallas Capital Advisors LLC grew 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 worth $230,000 after purchasing an additional 284 shares during the period. Creative Financial Designs Inc. ADV grew its holdings in shares of 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 purchasing an additional 289 shares during the period. Park Avenue Securities LLC grew its holdings in shares of Sonoco Products by 2.2% during 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 during the period. Finally, Curi RMB Capital LLC grew its holdings in shares of Sonoco Products by 2.4% during the 3rd quarter. Curi RMB Capital LLC now owns 12,979 shares of the industrial products company’s stock worth $709,000 after purchasing an additional 304 shares during the period. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Sonoco Products Stock Performance

Shares of SON opened at $47.38 on Tuesday. The business’s 50 day moving average is $48.92 and its two-hundred day moving average is $51.32. Sonoco Products has a 52-week low of $45.93 and a 52-week high of $61.73. The firm has a market cap of $4.66 billion, a price-to-earnings ratio of 16.28, a PEG 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.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SON shares. Wells Fargo & Company decreased their target price on Sonoco Products from $52.00 to $50.00 and set an “underweight” rating for the company in a report on Monday, January 6th. Bank of America boosted their price target on Sonoco Products from $66.00 to $71.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Citigroup reduced 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. Truist Financial boosted their price target on Sonoco Products from $63.00 to $68.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Robert W. Baird reduced 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Sonoco Products has a consensus rating of “Moderate Buy” and a consensus price target of $60.17.

Insider Buying and Selling at Sonoco Products

In other Sonoco Products news, Director Robert R. Hill, Jr. sold 4,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 16,065 shares of the company’s stock, valued at $770,316.75. This represents a 19.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.51% of the stock is currently owned by corporate 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.