Venturi Wealth Management LLC Raises Stock Position in Sonoco Products (NYSE:SON)

Venturi Wealth Management LLC raised its position in Sonoco Products (NYSE:SON) by 110.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,378 shares of the industrial products company’s stock after purchasing an additional 3,866 shares during the quarter. Venturi Wealth Management LLC’s holdings in Sonoco Products were worth $360,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Wedmont Private Capital lifted its position in shares of Sonoco Products by 3.9% during the fourth 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 in the last quarter. Pallas Capital Advisors LLC grew its holdings in shares of Sonoco Products by 6.4% in the fourth quarter. Pallas Capital Advisors LLC now owns 4,701 shares of the industrial products company’s stock valued at $230,000 after purchasing an additional 284 shares in the last quarter. Creative Financial Designs Inc. ADV increased its stake in 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 buying an additional 289 shares during the period. Park Avenue Securities LLC lifted its holdings in 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 buying an additional 298 shares in the last quarter. Finally, Curi RMB Capital LLC boosted its position in Sonoco Products by 2.4% in the 3rd quarter. Curi RMB Capital LLC now owns 12,979 shares of the industrial products company’s stock valued at $709,000 after buying an additional 304 shares during the period. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Sonoco Products Price Performance

SON stock opened at $46.18 on Friday. The company has a market cap of $4.54 billion, a price-to-earnings ratio of 27.99, a PEG ratio of 0.77 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. The firm has a 50 day moving average of $48.22 and a 200-day moving average of $51.04. Sonoco Products has a 12-month low of $44.35 and a 12-month high of $61.73.

Sonoco Products (NYSE:SON) last posted its earnings results on Tuesday, February 18th. The industrial products company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.01). The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Sonoco Products had a return on equity of 20.46% and a net margin of 2.60%. As a group, equities analysts expect that Sonoco Products will post 6.25 EPS for the current fiscal year.

Sonoco Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 26th will be paid a $0.52 dividend. The ex-dividend date is Wednesday, February 26th. This represents a $2.08 dividend on an annualized basis and a yield of 4.50%. Sonoco Products’s payout ratio is 126.06%.

Insider Buying and Selling at Sonoco Products

In other Sonoco Products news, Director Robert R. Hill, Jr. sold 4,000 shares of the stock in a transaction 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.51% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SON. Wells Fargo & Company cut their price target on 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 cut 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. StockNews.com cut shares of Sonoco Products from a “buy” rating to a “hold” rating in a report on Thursday. Truist Financial boosted their price target on shares of Sonoco Products from $63.00 to $68.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Citigroup reduced their price objective on shares of Sonoco Products from $59.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Sonoco Products has a consensus rating of “Hold” 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.