Sonoco Products Company (NYSE:SON) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC trimmed its holdings in shares of Sonoco Products Company (NYSE:SON - Free Report) by 97.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,162 shares of the industrial products company's stock after selling 164,178 shares during the quarter. Kingsview Wealth Management LLC's holdings in Sonoco Products were worth $244,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Whittier Trust Co. of Nevada Inc. grew its position in shares of Sonoco Products by 508.1% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 900 shares of the industrial products company's stock valued at $43,000 after purchasing an additional 752 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Sonoco Products by 152.7% in the first quarter. UMB Bank n.a. now owns 950 shares of the industrial products company's stock valued at $45,000 after acquiring an additional 574 shares during the last quarter. Quarry LP increased its holdings in shares of Sonoco Products by 111.3% in the fourth quarter. Quarry LP now owns 970 shares of the industrial products company's stock valued at $47,000 after purchasing an additional 511 shares in the last quarter. Colonial Trust Co SC increased its holdings in shares of Sonoco Products by 90.6% in the fourth quarter. Colonial Trust Co SC now owns 953 shares of the industrial products company's stock valued at $47,000 after purchasing an additional 453 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in Sonoco Products by 152.0% during the 1st quarter. Allworth Financial LP now owns 1,071 shares of the industrial products company's stock worth $50,000 after acquiring an additional 646 shares during the period. 77.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on SON. Truist Financial lifted their target price on shares of Sonoco Products from $53.00 to $58.00 and gave the stock a "buy" rating in a report on Friday. Wall Street Zen raised shares of Sonoco Products from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. Wells Fargo & Company raised shares of Sonoco Products from an "underweight" rating to an "overweight" rating and boosted their price target for the stock from $45.00 to $55.00 in a research report on Friday, May 23rd. Jefferies Financial Group started coverage on shares of Sonoco Products in a report on Tuesday, April 22nd. They issued a "buy" rating and a $62.00 target price on the stock. Finally, Raymond James Financial increased their price target on shares of Sonoco Products from $50.00 to $55.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $57.63.

Insider Buying and Selling

In other news, Director John R. Haley acquired 2,246 shares of the business's stock in a transaction on Friday, May 2nd. The shares were acquired at an average price of $44.57 per share, for a total transaction of $100,104.22. Following the completion of the transaction, the director directly owned 20,804 shares of the company's stock, valued at approximately $927,234.28. The trade was a 12.10% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert R. Hill, Jr. bought 5,475 shares of the stock in a transaction dated Wednesday, April 30th. The shares were bought at an average cost of $40.34 per share, with a total value of $220,861.50. Following the completion of the purchase, the director directly owned 29,540 shares of the company's stock, valued at approximately $1,191,643.60. This trade represents a 22.75% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 27,721 shares of company stock worth $1,144,366. Insiders own 0.74% of the company's stock.

Sonoco Products Trading Down 0.5%

NYSE SON traded down $0.24 during trading on Friday, hitting $48.34. The company had a trading volume of 1,164,116 shares, compared to its average volume of 981,950. The company has a current ratio of 1.25, a quick ratio of 0.51 and a debt-to-equity ratio of 1.53. Sonoco Products Company has a one year low of $39.46 and a one year high of $56.77. The company has a market cap of $4.77 billion, a price-to-earnings ratio of 8.66, a price-to-earnings-growth ratio of 0.62 and a beta of 0.68. The company's fifty day moving average is $45.55 and its 200-day moving average is $45.98.

Sonoco Products (NYSE:SON - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.44 by ($0.07). Sonoco Products had a return on equity of 20.46% and a net margin of 8.35%. The business had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.92 billion. During the same period in the previous year, the business posted $1.28 EPS. The business's quarterly revenue was up 17.7% compared to the same quarter last year. On average, sell-side analysts predict that Sonoco Products Company will post 6.1 earnings per share for the current year.

Sonoco Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 4.39%. The ex-dividend date is Friday, August 8th. Sonoco Products's dividend payout ratio (DPR) is presently 37.99%.

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.