Sonoco Products (NYSE:SON) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers lowered its position in Sonoco Products (NYSE:SON - Free Report) by 15.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 119,047 shares of the industrial products company's stock after selling 22,139 shares during the period. Cetera Investment Advisers owned approximately 0.12% of Sonoco Products worth $5,815,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Private Management Group Inc. boosted its position in Sonoco Products by 27.7% in the 4th quarter. Private Management Group Inc. now owns 584,390 shares of the industrial products company's stock worth $28,547,000 after purchasing an additional 126,867 shares in the last quarter. Quilter Plc boosted its position in Sonoco Products by 3.1% in the 4th quarter. Quilter Plc now owns 299,178 shares of the industrial products company's stock worth $14,615,000 after purchasing an additional 8,895 shares in the last quarter. Synergy Asset Management LLC boosted its position in Sonoco Products by 9.0% in the 4th quarter. Synergy Asset Management LLC now owns 66,754 shares of the industrial products company's stock worth $3,610,000 after purchasing an additional 5,505 shares in the last quarter. Northern Trust Corp boosted its position in Sonoco Products by 24.0% in the 4th quarter. Northern Trust Corp now owns 859,810 shares of the industrial products company's stock worth $42,002,000 after purchasing an additional 166,552 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new stake in Sonoco Products in the 4th quarter worth approximately $15,533,000. Hedge funds and other institutional investors own 77.69% of the company's stock.

Insider Activity at Sonoco Products

In other news, Director Robert R. Hill, Jr. acquired 5,475 shares of Sonoco Products stock in a transaction that occurred on Wednesday, April 30th. The stock was purchased at an average cost of $40.34 per share, with a total value of $220,861.50. Following the purchase, the director now owns 29,540 shares in the company, valued at $1,191,643.60. This trade represents a 22.75% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John R. Haley acquired 3,000 shares of Sonoco Products stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average cost of $46.76 per share, with a total value of $140,280.00. Following the completion of the purchase, the director now owns 18,558 shares in the company, valued at $867,772.08. The trade was a 19.28% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 50,721 shares of company stock valued at $2,206,646. 0.74% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have commented on SON. Truist Financial lowered their price objective on Sonoco Products from $60.00 to $54.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. StockNews.com upgraded Sonoco Products from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Jefferies Financial Group started coverage on Sonoco Products in a research report on Tuesday, April 22nd. They issued a "buy" rating and a $62.00 price objective on the stock. Raymond James decreased their target price on Sonoco Products from $54.00 to $50.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Finally, Wells Fargo & Company decreased their target price on Sonoco Products from $50.00 to $48.00 and set an "underweight" rating on the stock in a research report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $56.43.

Sonoco Products Price Performance

Shares of NYSE:SON traded down $0.11 during midday trading on Monday, reaching $46.27. 503,034 shares of the company's stock traded hands, compared to its average volume of 780,417. Sonoco Products has a 1 year low of $39.46 and a 1 year high of $61.73. The company has a market cap of $4.56 billion, a P/E ratio of 28.04, a PEG ratio of 0.76 and a beta of 0.68. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.91 and a current ratio of 0.79. The company has a fifty day simple moving average of $45.10 and a two-hundred day simple moving average of $47.57.

Sonoco Products (NYSE:SON - Get Free Report) last announced its earnings results on Tuesday, April 29th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.41 by ($0.03). Sonoco Products had a net margin of 2.60% and a return on equity of 20.81%. The business had revenue of $1.71 billion for the quarter, compared to analysts' expectations of $2.02 billion. During the same quarter last year, the business earned $1.12 EPS. The company's quarterly revenue was up 30.6% on a year-over-year basis. Equities analysts predict that Sonoco Products will post 6.1 EPS for the current fiscal year.

Sonoco Products Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be paid a $0.53 dividend. This is an increase from Sonoco Products's previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a yield of 4.58%. The ex-dividend date is Friday, May 9th. Sonoco Products's dividend payout ratio is currently 137.66%.

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.