Evercore Wealth Management LLC Has $2.03 Million Holdings in Sonoco Products (NYSE:SON)

Evercore Wealth Management LLC lessened its holdings in shares of Sonoco Products (NYSE:SON - Free Report) by 22.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 41,446 shares of the industrial products company's stock after selling 11,745 shares during the period. Evercore Wealth Management LLC's holdings in Sonoco Products were worth $2,025,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SON. Wilmington Savings Fund Society FSB acquired a new position in Sonoco Products in the 3rd quarter valued at approximately $71,000. Principal Securities Inc. raised its holdings in Sonoco Products by 35.0% in the 4th quarter. Principal Securities Inc. now owns 1,355 shares of the industrial products company's stock valued at $66,000 after acquiring an additional 351 shares in the last quarter. SRS Capital Advisors Inc. raised its holdings in Sonoco Products by 311.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,713 shares of the industrial products company's stock valued at $84,000 after acquiring an additional 1,297 shares in the last quarter. Albion Financial Group UT acquired a new position in Sonoco Products in the 4th quarter valued at approximately $84,000. Finally, GAMMA Investing LLC raised its holdings in Sonoco Products by 33.8% in the 4th quarter. GAMMA Investing LLC now owns 3,158 shares of the industrial products company's stock valued at $154,000 after acquiring an additional 798 shares in the last quarter. Institutional investors and hedge funds own 77.69% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SON shares. StockNews.com cut Sonoco Products from a "hold" rating to a "sell" rating in a report on Friday. Raymond James reduced their target price on shares of Sonoco Products from $54.00 to $50.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Truist Financial reduced their target price on shares of Sonoco Products from $60.00 to $54.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Wells Fargo & Company reduced their target price on shares of Sonoco Products from $50.00 to $48.00 and set an "underweight" rating on the stock in a research note on Monday, February 24th. Finally, Citigroup reduced their target price on shares of Sonoco Products from $59.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Two analysts have 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, Sonoco Products currently has a consensus rating of "Hold" and an average price target of $56.43.

Insiders Place Their Bets

In other news, CEO R. Howard Coker purchased 20,000 shares of Sonoco Products stock in a transaction on Thursday, March 13th. The stock was purchased at an average price of $46.10 per share, with a total value of $922,000.00. Following the transaction, the chief executive officer now directly owns 482,365 shares in the company, valued at $22,237,026.50. The trade was a 4.33 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John R. Haley bought 3,000 shares of the firm's 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 directly owns 18,558 shares of the company's stock, valued at $867,772.08. This represents a 19.28 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.74% of the company's stock.

Sonoco Products Trading Up 0.7 %

Shares of SON stock traded up $0.34 on Tuesday, reaching $46.79. The company had a trading volume of 294,059 shares, compared to its average volume of 749,210. The company has a current ratio of 0.79, a quick ratio of 1.91 and a debt-to-equity ratio of 2.18. The stock has a market cap of $4.61 billion, a PE ratio of 28.39, a PEG ratio of 0.76 and a beta of 0.64. The company has a 50-day moving average of $45.66 and a 200-day moving average of $48.42. Sonoco Products has a 12 month low of $39.46 and a 12 month high of $61.73.

Sonoco Products (NYSE:SON - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.01). Sonoco Products had a net margin of 2.60% and a return on equity of 20.81%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.67 billion. On average, equities analysts forecast that Sonoco Products will post 6.1 earnings per share for the current year.

Sonoco Products Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $2.12 dividend on an annualized basis and a yield of 4.53%. This is an increase from Sonoco Products's previous quarterly dividend of $0.52. Sonoco Products's dividend payout ratio is 128.48%.

Sonoco Products 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.