GoalVest Advisory LLC Reduces Holdings in Sonoco Products (NYSE:SON)

GoalVest Advisory LLC decreased its position in shares of Sonoco Products (NYSE:SON) by 14.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 17,914 shares of the industrial products company’s stock after selling 2,971 shares during the period. GoalVest Advisory LLC’s holdings in Sonoco Products were worth $875,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its stake in shares of Sonoco Products by 80.8% in the second quarter. AQR Capital Management LLC now owns 555,575 shares of the industrial products company’s stock valued at $28,179,000 after buying an additional 248,236 shares in the last quarter. Jane Street Group LLC grew its position in shares of Sonoco Products by 312.1% during the 3rd quarter. Jane Street Group LLC now owns 185,351 shares of the industrial products company’s stock valued at $10,126,000 after buying an additional 140,370 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Sonoco Products in the 2nd quarter worth approximately $2,419,000. Nordea Investment Management AB lifted its position in Sonoco Products by 63.2% in the 4th quarter. Nordea Investment Management AB now owns 1,129,133 shares of the industrial products company’s stock valued at $55,181,000 after purchasing an additional 437,128 shares during the last quarter. Finally, Versor Investments LP acquired a new position in shares of Sonoco Products during the third quarter worth approximately $970,000. 77.69% of the stock is owned by institutional investors and hedge funds.

Sonoco Products Stock Performance

SON stock opened at $48.51 on Thursday. 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 company has a market cap of $4.77 billion, a P/E ratio of 16.67, a price-to-earnings-growth ratio of 0.79 and a beta of 0.68. The business’s fifty day moving average is $49.66 and its 200-day moving average is $51.57.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.04. Sonoco Products had a net margin of 4.38% and a return on equity of 19.92%. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the previous year, the firm posted $1.46 earnings per share. The business’s revenue was down 2.0% on a year-over-year basis. Equities research analysts forecast that Sonoco Products will post 5.12 EPS for the current year.

Insider Activity at Sonoco Products

In other 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 shares were sold at an average price of $47.95, for a total transaction of $191,800.00. Following the completion of the sale, the director now owns 16,065 shares of the company’s stock, valued at approximately $770,316.75. This represents a 19.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.51% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SON shares. Truist Financial boosted their target price on Sonoco Products from $63.00 to $68.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Wells Fargo & Company dropped 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. Bank of America raised their price objective 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 dropped 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 note on Monday, January 6th. Finally, Robert W. Baird decreased their target price on shares of Sonoco Products from $58.00 to $55.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $60.17.

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.