Jane Street Group LLC Has $5.05 Million Position in Sonoco Products (NYSE:SON)

Jane Street Group LLC decreased its holdings in Sonoco Products (NYSE:SON - Free Report) by 44.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 103,351 shares of the industrial products company's stock after selling 82,000 shares during the quarter. Jane Street Group LLC owned 0.11% of Sonoco Products worth $5,049,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Barclays PLC lifted its stake in shares of Sonoco Products by 29.8% in the 3rd quarter. Barclays PLC now owns 94,885 shares of the industrial products company's stock worth $5,184,000 after acquiring an additional 21,799 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Sonoco Products in the third quarter worth approximately $71,000. Franklin Resources Inc. boosted its stake in Sonoco Products by 110.4% during the 3rd quarter. Franklin Resources Inc. now owns 73,501 shares of the industrial products company's stock valued at $4,018,000 after purchasing an additional 38,564 shares in the last quarter. Salem Investment Counselors Inc. raised its stake in shares of Sonoco Products by 4.7% in the 4th quarter. Salem Investment Counselors Inc. now owns 96,323 shares of the industrial products company's stock worth $4,705,000 after buying an additional 4,287 shares in the last quarter. Finally, Wedmont Private Capital lifted its holdings in shares of Sonoco Products by 3.9% in the fourth quarter. Wedmont Private Capital now owns 6,652 shares of the industrial products company's stock valued at $306,000 after buying an additional 247 shares during the period. 77.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Sonoco Products

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

Wall Street Analyst Weigh In

SON has been the topic of several research reports. StockNews.com upgraded shares of Sonoco Products from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Truist Financial dropped their target price on shares of Sonoco Products from $60.00 to $54.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Wells Fargo & Company cut their target price on shares of Sonoco Products from $50.00 to $48.00 and set an "underweight" rating for the company in a research note on Monday, February 24th. Jefferies Financial Group initiated coverage on shares of Sonoco Products in a research report on Tuesday, April 22nd. They issued a "buy" rating and a $62.00 price target on the stock. Finally, Raymond James cut their price objective on Sonoco Products from $54.00 to $50.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. One 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. Based on data from MarketBeat, Sonoco Products has an average rating of "Moderate Buy" and a consensus target price of $56.43.

Sonoco Products Stock Up 0.4%

Shares of SON traded up $0.17 during mid-day trading on Wednesday, reaching $45.24. The company's stock had a trading volume of 725,437 shares, compared to its average volume of 779,503. The company has a market cap of $4.46 billion, a price-to-earnings ratio of 27.42, a price-to-earnings-growth ratio of 0.76 and a beta of 0.68. The business has a fifty day moving average of $45.17 and a 200 day moving average of $47.78. The company has a quick ratio of 1.91, a current ratio of 0.79 and a debt-to-equity ratio of 2.18. Sonoco Products has a 1 year low of $39.46 and a 1 year high of $61.73.

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

Sonoco Products Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be given a $0.53 dividend. This is an increase from Sonoco Products's previous quarterly dividend of $0.52. 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 4.69%. Sonoco Products's dividend payout ratio is presently 137.66%.

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.