Tudor Investment Corp ET AL Has $1.98 Million Stock Holdings in Sonoco Products (NYSE:SON)

Tudor Investment Corp ET AL cut its position in Sonoco Products (NYSE:SON - Free Report) by 41.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,474 shares of the industrial products company's stock after selling 29,103 shares during the period. Tudor Investment Corp ET AL's holdings in Sonoco Products were worth $1,977,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Quarry LP increased its holdings in Sonoco Products by 111.3% during the 4th 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. Principal Securities Inc. increased its stake in shares of Sonoco Products by 35.0% in the fourth quarter. Principal Securities Inc. now owns 1,355 shares of the industrial products company's stock valued at $66,000 after buying an additional 351 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Sonoco Products in the third quarter valued at about $71,000. Albion Financial Group UT acquired a new position in Sonoco Products during the 4th quarter worth about $84,000. Finally, SRS Capital Advisors Inc. grew its holdings in Sonoco Products by 311.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,713 shares of the industrial products company's stock worth $84,000 after acquiring an additional 1,297 shares during the last quarter. 77.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SON has been the topic of a number of recent research reports. Wells Fargo & Company decreased their price objective 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. Raymond James dropped their price objective on Sonoco Products from $54.00 to $50.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Truist Financial dropped their price target on shares of Sonoco Products from $60.00 to $54.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Jefferies Financial Group started coverage on shares of Sonoco Products in a research note on Tuesday, April 22nd. They issued a "buy" rating and a $62.00 price objective on the stock. Finally, StockNews.com cut shares of Sonoco Products from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Sonoco Products has an average rating of "Hold" and a consensus price target of $56.43.

Sonoco Products Stock Down 0.3 %

Shares of SON traded down $0.15 during mid-day trading on Wednesday, hitting $44.20. 991,467 shares of the company's stock were exchanged, compared to its average volume of 773,703. Sonoco Products has a 52 week low of $39.46 and a 52 week high of $61.73. The company has a 50-day simple moving average of $45.29 and a 200 day simple moving average of $48.03. The company has a market cap of $4.36 billion, a PE ratio of 26.79, a P/E/G ratio of 0.76 and a beta of 0.68. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.79 and a quick ratio of 1.91.

Sonoco Products (NYSE:SON - Get Free Report) last issued its earnings results on Tuesday, April 29th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.41 by ($0.03). Sonoco Products had a net margin of 2.60% and a return on equity of 20.81%. The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the previous year, the company posted $1.12 earnings per share. The firm's revenue for the quarter was up 30.6% compared to the same quarter last year. On average, research 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. Stockholders of record on Friday, May 9th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.80%. 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 (DPR) is currently 137.66%.

Insider Buying and Selling

In other Sonoco Products news, Director John R. Haley purchased 3,000 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average cost of $46.76 per share, for a total transaction of $140,280.00. Following the completion of the purchase, the director now owns 18,558 shares of the company's stock, valued at approximately $867,772.08. The trade was a 19.28 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO R. Howard Coker purchased 20,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average cost of $46.10 per share, for a total transaction of $922,000.00. Following the completion of the transaction, the chief executive officer now owns 482,365 shares of the company's stock, valued at $22,237,026.50. This trade represents a 4.33 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 50,721 shares of company stock valued at $2,206,646. Company insiders own 0.74% of the company's stock.

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.