Sonoco Products (NYSE:SON) Shares Bought by Natixis

Natixis increased its holdings in shares of Sonoco Products (NYSE:SON - Free Report) by 120,995.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,219 shares of the industrial products company's stock after purchasing an additional 24,199 shares during the period. Natixis' holdings in Sonoco Products were worth $1,183,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SON. Curi RMB Capital LLC grew its position in shares of Sonoco Products by 101.5% in the 4th quarter. Curi RMB Capital LLC now owns 26,154 shares of the industrial products company's stock worth $1,278,000 after buying an additional 13,175 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Sonoco Products by 4.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,140,471 shares of the industrial products company's stock worth $153,411,000 after purchasing an additional 136,965 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of Sonoco Products by 6.4% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 92,388 shares of the industrial products company's stock worth $4,509,000 after purchasing an additional 5,572 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of Sonoco Products during the 4th quarter valued at $451,000. Finally, Mariner LLC boosted its position in shares of Sonoco Products by 17.6% in the 4th quarter. Mariner LLC now owns 20,426 shares of the industrial products company's stock worth $998,000 after purchasing an additional 3,059 shares in the last quarter. 77.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director John R. Haley bought 3,000 shares of the firm's stock in a transaction dated Thursday, February 27th. The shares were acquired at an average price of $46.76 per share, for a total transaction of $140,280.00. Following the completion of the transaction, the director now directly owns 18,558 shares in the company, valued at $867,772.08. The trade was a 19.28 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO R. Howard Coker purchased 20,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average price of $46.10 per share, with a total value of $922,000.00. Following the completion of the transaction, the chief executive officer now directly owns 482,365 shares of the company's stock, valued at $22,237,026.50. This represents a 4.33 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.74% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Citigroup reduced their target price on Sonoco Products from $59.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Bank of America increased their price objective on shares of Sonoco Products from $66.00 to $71.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Raymond James dropped 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 report on Tuesday, April 22nd. Truist Financial decreased their price target on shares of Sonoco Products from $60.00 to $54.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, Jefferies Financial Group began coverage on Sonoco Products in a research report on Tuesday, April 22nd. They issued a "buy" rating and a $62.00 target price on the stock. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $56.43.

Sonoco Products Stock Performance

Sonoco Products stock traded up $0.16 during mid-day trading on Tuesday, hitting $46.61. The company had a trading volume of 193,160 shares, compared to its average volume of 748,782. The company has a market capitalization of $4.60 billion, a price-to-earnings ratio of 28.25, a P/E/G ratio of 0.76 and a beta of 0.64. Sonoco Products has a 12-month low of $39.46 and a 12-month high of $61.73. The company's fifty day moving average is $45.66 and its 200-day moving average is $48.42. The company has a current ratio of 0.79, a quick ratio of 1.91 and a debt-to-equity ratio of 2.18.

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

Sonoco Products Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be issued a $0.53 dividend. This is a positive change from Sonoco Products's previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a yield of 4.55%. The ex-dividend date is Friday, May 9th. Sonoco Products's dividend payout ratio (DPR) is presently 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.