Trust Point Inc. Increases Position in Sonoco Products (NYSE:SON)

Trust Point Inc. raised its holdings in shares of Sonoco Products (NYSE:SON) by 70.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,003 shares of the industrial products company’s stock after buying an additional 4,141 shares during the period. Trust Point Inc.’s holdings in Sonoco Products were worth $489,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Synergy Asset Management LLC boosted its holdings in shares of Sonoco Products by 9.0% in the fourth quarter. Synergy Asset Management LLC now owns 66,754 shares of the industrial products company’s stock valued at $3,610,000 after purchasing an additional 5,505 shares during the period. Jane Street Group LLC boosted its holdings in shares of Sonoco Products by 312.1% in the third quarter. Jane Street Group LLC now owns 185,351 shares of the industrial products company’s stock valued at $10,126,000 after purchasing an additional 140,370 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Sonoco Products by 63.2% in the fourth 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 period. Versor Investments LP purchased a new stake in shares of Sonoco Products in the third quarter valued at approximately $970,000. Finally, Speece Thorson Capital Group Inc. boosted its holdings in shares of Sonoco Products by 18.6% in the third quarter. Speece Thorson Capital Group Inc. now owns 305,971 shares of the industrial products company’s stock valued at $16,715,000 after purchasing an additional 47,928 shares during the period. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on SON shares. Robert W. Baird lowered their price target on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Bank of America upped their target price on Sonoco Products from $66.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Citigroup lowered their target price on Sonoco Products from $59.00 to $55.00 and set a “buy” rating for the company in a report on Monday, January 6th. Truist Financial upped 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. Finally, Wells Fargo & Company lowered 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. One 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.17.

Sonoco Products Stock Performance

Shares of SON stock opened at $48.14 on Thursday. The business’s fifty day simple moving average is $49.19 and its 200-day simple moving average is $51.41. The company has a market cap of $4.73 billion, a PE ratio of 16.54, a PEG ratio of 0.76 and a beta of 0.67. The company has a current ratio of 2.36, a quick ratio of 1.91 and a debt-to-equity ratio of 1.74. Sonoco Products has a 12-month low of $45.93 and a 12-month high of $61.73.

Insider Activity at Sonoco Products

In other Sonoco Products news, Director Robert R. Hill, Jr. sold 4,000 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $47.95, for a total transaction of $191,800.00. Following the sale, the director now directly owns 16,065 shares of the company’s stock, valued at approximately $770,316.75. This trade represents a 19.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.51% of the stock is owned by 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.