iSAM Funds UK Ltd Sells 8,546 Shares of Sonoco Products (NYSE:SON)

iSAM Funds UK Ltd reduced its holdings in Sonoco Products (NYSE:SON - Free Report) by 37.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,216 shares of the industrial products company's stock after selling 8,546 shares during the period. iSAM Funds UK Ltd's holdings in Sonoco Products were worth $694,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Barclays PLC raised its stake in shares of Sonoco Products by 29.8% in the third quarter. Barclays PLC now owns 94,885 shares of the industrial products company's stock valued at $5,184,000 after purchasing an additional 21,799 shares in the last quarter. Park Avenue Securities LLC raised its stake in shares of Sonoco Products by 2.2% in the fourth quarter. Park Avenue Securities LLC now owns 14,084 shares of the industrial products company's stock valued at $688,000 after purchasing an additional 298 shares in the last quarter. Merit Financial Group LLC acquired a new position in shares of Sonoco Products in the fourth quarter valued at $298,000. HB Wealth Management LLC raised its stake in shares of Sonoco Products by 10.2% in the fourth quarter. HB Wealth Management LLC now owns 7,198 shares of the industrial products company's stock valued at $352,000 after purchasing an additional 665 shares in the last quarter. Finally, Albion Financial Group UT acquired a new position in shares of Sonoco Products in the fourth quarter valued at $84,000. 77.69% of the stock is owned by institutional investors.

Sonoco Products Price Performance

Shares of SON stock opened at $46.27 on Tuesday. The stock's fifty day moving average is $45.10 and its 200-day moving average is $47.57. 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 stock has a market capitalization of $4.56 billion, a PE ratio of 28.04, a PEG ratio of 0.76 and a beta of 0.68. Sonoco Products has a 52 week low of $39.46 and a 52 week high of $61.73.

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

Sonoco Products Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 4.58%. The ex-dividend date of this dividend is Friday, May 9th. This is a boost from Sonoco Products's previous quarterly dividend of $0.52. Sonoco Products's dividend payout ratio is presently 137.66%.

Insider Transactions at Sonoco Products

In other news, CEO R. Howard Coker purchased 20,000 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were acquired at an average price of $46.10 per share, with a total value of $922,000.00. Following the completion of the purchase, the chief executive officer now directly owns 482,365 shares of the company's stock, valued at $22,237,026.50. The trade was a 4.33% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John R. Haley purchased 3,000 shares of the business's stock in a transaction dated Thursday, February 27th. The shares were purchased at an average cost of $46.76 per share, for a total transaction of $140,280.00. Following the purchase, the director now directly owns 18,558 shares of the company's stock, valued at $867,772.08. This trade represents a 19.28% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 50,721 shares of company stock worth $2,206,646. Insiders own 0.74% of the company's stock.

Wall Street Analyst Weigh In

SON has been the subject of a number of recent research reports. Jefferies Financial Group initiated coverage on Sonoco Products in a research note on Tuesday, April 22nd. They issued a "buy" rating and a $62.00 target price for the company. Raymond James cut their target price on Sonoco Products from $54.00 to $50.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Truist Financial lowered their price target 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. Finally, Wells Fargo & Company lowered their price target 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 equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $56.43.

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.

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