RBF Capital LLC Buys 55,402 Shares of Sonoco Products (NYSE:SON)

RBF Capital LLC raised its holdings in Sonoco Products (NYSE:SON - Free Report) by 577.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,002 shares of the industrial products company's stock after purchasing an additional 55,402 shares during the period. RBF Capital LLC owned 0.07% of Sonoco Products worth $3,175,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Sonoco Products by 9.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 60,189 shares of the industrial products company's stock worth $2,941,000 after buying an additional 4,978 shares in the last quarter. Dark Forest Capital Management LP purchased a new position in shares of Sonoco Products during the 4th quarter valued at $416,000. Steel Grove Capital Advisors LLC bought a new position in shares of Sonoco Products in the fourth quarter worth $328,000. Tower Research Capital LLC TRC raised its position in shares of Sonoco Products by 119.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,373 shares of the industrial products company's stock worth $556,000 after buying an additional 6,188 shares in the last quarter. Finally, Speece Thorson Capital Group Inc. boosted its stake in Sonoco Products by 0.6% during the fourth quarter. Speece Thorson Capital Group Inc. now owns 307,680 shares of the industrial products company's stock valued at $15,030,000 after buying an additional 1,709 shares during the period. Institutional investors own 77.69% of the company's stock.

Insider Activity

In other news, CEO R. Howard Coker bought 20,000 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were purchased at an average price of $46.10 per share, for a total transaction of $922,000.00. Following the completion of the purchase, the chief executive officer now owns 482,365 shares in the company, valued at approximately $22,237,026.50. This represents a 4.33 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John R. Haley acquired 3,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average cost 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. This represents a 19.28 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.74% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. 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 report on Tuesday, April 22nd. Citigroup cut their price target on shares of Sonoco Products from $59.00 to $55.00 and set a "buy" rating for the company in a research note on Monday, January 6th. StockNews.com downgraded shares of Sonoco Products from a "hold" rating to a "sell" rating in a report on Friday. Bank of America raised their price target on Sonoco Products from $66.00 to $71.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Finally, Jefferies Financial Group initiated coverage on Sonoco Products in a report on Tuesday, April 22nd. They issued a "buy" rating and a $62.00 price objective for the company. Two research analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $56.43.

Sonoco Products Trading Up 0.4 %

Shares of Sonoco Products stock traded up $0.17 during midday trading on Monday, reaching $46.36. 145,335 shares of the company's stock traded hands, compared to its average volume of 819,879. The company has a market cap of $4.57 billion, a PE ratio of 28.08, a price-to-earnings-growth ratio of 0.76 and a beta of 0.64. The stock has a 50 day moving average of $45.66 and a 200-day moving average of $48.48. Sonoco Products has a 12 month low of $39.46 and a 12 month high of $61.73. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.91 and a current ratio of 0.79.

Sonoco Products (NYSE:SON - Get Free Report) last posted its 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). Sonoco Products had a return on equity of 20.81% and a net margin of 2.60%. The company had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.67 billion. As a group, equities analysts expect that Sonoco Products will post 6.1 EPS for the current fiscal 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 represents a $2.12 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date 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 128.48%.

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.