Miller Howard Investments Inc. NY Sells 1,105 Shares of Sonoco Products (NYSE:SON)

Miller Howard Investments Inc. NY reduced its position in Sonoco Products (NYSE:SON) by 10.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,162 shares of the industrial products company’s stock after selling 1,105 shares during the quarter. Miller Howard Investments Inc. NY’s holdings in Sonoco Products were worth $448,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of SON. Geode Capital Management LLC boosted its stake 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 worth $101,842,000 after buying an additional 42,701 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of 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 in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Sonoco Products by 50.4% during the 3rd 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. Private Management Group Inc. grew its holdings in shares of Sonoco Products by 27.7% during the 4th quarter. Private Management Group Inc. now owns 584,390 shares of the industrial products company’s stock valued at $28,547,000 after purchasing an additional 126,867 shares during the last quarter. Finally, FMR LLC raised its position in Sonoco Products by 70.1% in 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 period. 77.69% of the stock is currently owned by institutional investors.

Sonoco Products Price Performance

SON opened at $46.91 on Monday. The company has a current ratio of 2.36, a quick ratio of 1.91 and a debt-to-equity ratio of 1.74. The company has a market cap of $4.61 billion, a price-to-earnings ratio of 16.12, a price-to-earnings-growth ratio of 0.76 and a beta of 0.67. The stock has a fifty day simple moving average of $49.02 and a two-hundred day simple moving average of $51.35. Sonoco Products has a 12-month low of $45.93 and a 12-month high of $61.73.

Insider Transactions 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 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 owns 16,065 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SON shares. Bank of America raised their price objective on Sonoco Products from $66.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Wells Fargo & Company reduced their price target on Sonoco Products from $52.00 to $50.00 and set an “underweight” rating on the stock in a research report on Monday, January 6th. Citigroup dropped their price objective 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. Robert W. Baird decreased their target price on shares of Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Finally, Truist Financial upped their price target on Sonoco Products from $63.00 to $68.00 and gave the company a “buy” rating in a research report on Monday, January 6th. One equities research 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, the company has an average rating of “Moderate Buy” and a consensus 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.