Sonoco Products (NYSE:SON) Shares Sold by Curbstone Financial Management Corp

Curbstone Financial Management Corp lessened its stake in Sonoco Products (NYSE:SON) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,660 shares of the industrial products company’s stock after selling 690 shares during the period. Curbstone Financial Management Corp’s holdings in Sonoco Products were worth $1,302,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Cascade Investment Advisors Inc. increased its position in shares of Sonoco Products by 2.9% in the 4th quarter. Cascade Investment Advisors Inc. now owns 27,747 shares of the industrial products company’s stock worth $1,355,000 after purchasing an additional 780 shares during the last quarter. KBC Group NV increased its holdings in Sonoco Products by 42.6% in the fourth quarter. KBC Group NV now owns 3,750 shares of the industrial products company’s stock valued at $183,000 after buying an additional 1,120 shares during the last quarter. Sound Income Strategies LLC raised its stake in Sonoco Products by 53.3% during the fourth quarter. Sound Income Strategies LLC now owns 278,729 shares of the industrial products company’s stock valued at $13,616,000 after buying an additional 96,873 shares in the last quarter. IVC Wealth Advisors LLC lifted its holdings in Sonoco Products by 20.4% during the 4th quarter. IVC Wealth Advisors LLC now owns 6,254 shares of the industrial products company’s stock worth $306,000 after buying an additional 1,060 shares during the last quarter. Finally, D.B. Root & Company LLC grew its position in shares of Sonoco Products by 10.0% in the 4th quarter. D.B. Root & Company LLC now owns 16,046 shares of the industrial products company’s stock worth $784,000 after acquiring an additional 1,465 shares in the last quarter. 77.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Sonoco Products

In related news, Director Robert R. Hill, Jr. sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $47.95, for a total transaction of $191,800.00. Following the sale, the director now owns 16,065 shares of the company’s stock, valued at $770,316.75. The trade was a 19.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.51% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SON shares. Robert W. Baird dropped their price target on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Bank of America raised their target price on shares of Sonoco Products from $66.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Citigroup lowered their target price on Sonoco Products from $59.00 to $55.00 and set a “buy” rating for the company in a report on Monday, January 6th. Truist Financial raised their price target on Sonoco Products from $63.00 to $68.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Wells Fargo & Company lowered their price objective on Sonoco Products from $52.00 to $50.00 and set an “underweight” rating for the company in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.17.

Sonoco Products Stock Performance

SON opened at $48.87 on Tuesday. Sonoco Products has a twelve month low of $45.93 and a twelve month high of $61.73. The stock has a market cap of $4.80 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 0.78 and a beta of 0.68. The business’s 50 day moving average is $49.57 and its 200-day moving average is $51.58. The company has a current ratio of 2.36, a quick ratio of 1.91 and a debt-to-equity ratio of 1.74.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the previous year, the firm posted $1.46 EPS. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. On average, analysts predict that Sonoco Products will post 5.12 earnings per share for the current year.

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.