Naples Global Advisors LLC Has $2.66 Million Stock Holdings in Sonoco Products (NYSE:SON)

Naples Global Advisors LLC lowered its stake in Sonoco Products (NYSE:SON) by 1.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 54,523 shares of the industrial products company’s stock after selling 611 shares during the period. Naples Global Advisors LLC’s holdings in Sonoco Products were worth $2,663,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kennebec Savings Bank bought a new position in shares of Sonoco Products in the 3rd quarter valued at $27,000. Capital Performance Advisors LLP bought a new position in Sonoco Products in the third quarter valued at about $33,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Sonoco Products during the third quarter valued at about $71,000. Albion Financial Group UT bought a new stake in shares of Sonoco Products during the fourth quarter worth about $84,000. Finally, Quantbot Technologies LP acquired a new position in shares of Sonoco Products in the third quarter valued at approximately $111,000. Institutional investors own 77.69% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on SON. Truist Financial lifted their target price on shares of Sonoco Products from $63.00 to $68.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Wells Fargo & Company cut their price target on shares of Sonoco Products from $52.00 to $50.00 and set an “underweight” rating on the stock in a report on Monday, January 6th. Robert W. Baird decreased their price objective on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Citigroup cut their target price on Sonoco Products from $59.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Bank of America increased their price target on Sonoco Products from $66.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, January 6th. One equities 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.17.

Insider Buying and Selling

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

Sonoco Products Price Performance

SON stock opened at $46.84 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. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 0.76 and a beta of 0.67. The company’s fifty day simple moving average is $48.73 and its 200 day simple moving average is $51.25. Sonoco Products has a 12-month low of $45.93 and a 12-month high of $61.73.

Sonoco Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 26th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.44%. Sonoco Products’s payout ratio is 71.48%.

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.