Curbstone Financial Management Corp Trims Stock Position in Sonoco Products (NYSE:SON)

Curbstone Financial Management Corp trimmed its holdings in shares of Sonoco Products (NYSE:SON) by 2.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Geode Capital Management LLC increased its position in Sonoco Products by 2.3% during the third quarter. Geode Capital Management LLC now owns 1,863,756 shares of the industrial products company’s stock worth $101,842,000 after buying an additional 42,701 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Sonoco Products by 63.2% during the fourth quarter. Nordea Investment Management AB now owns 1,129,133 shares of the industrial products company’s stock valued at $55,181,000 after acquiring an additional 437,128 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Sonoco Products by 50.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,029,166 shares of the industrial products company’s stock worth $56,223,000 after purchasing an additional 344,658 shares in the last quarter. FMR LLC raised its stake in Sonoco Products by 70.1% in the 3rd quarter. FMR LLC now owns 559,596 shares of the industrial products company’s stock valued at $30,571,000 after purchasing an additional 230,709 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Sonoco Products by 80.8% in the 2nd quarter. AQR Capital Management LLC now owns 555,575 shares of the industrial products company’s stock valued at $28,179,000 after purchasing an additional 248,236 shares in the last quarter. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Truist Financial lifted their price target on shares of Sonoco Products from $63.00 to $68.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Citigroup lowered their target price 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. Robert W. Baird reduced their price target on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Bank of America lifted their price objective 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, Wells Fargo & Company reduced their target price on Sonoco Products from $52.00 to $50.00 and set an “underweight” rating on the stock in a research report on Monday, January 6th. One analyst has 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $60.17.

Insider Buying and Selling

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 transaction, the director now directly owns 16,065 shares of the company’s stock, valued at approximately $770,316.75. The trade was a 19.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.51% of the stock is owned by corporate insiders.

Sonoco Products Stock Performance

Shares of NYSE:SON opened at $48.87 on Tuesday. The business has a 50-day moving average of $49.57 and a two-hundred day moving average of $51.58. The firm has a market capitalization of $4.80 billion, a PE ratio of 16.79, a P/E/G ratio of 0.78 and a beta of 0.68. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.36 and a quick ratio of 1.91. Sonoco Products has a 12 month low of $45.93 and a 12 month high of $61.73.

Sonoco Products (NYSE:SON) last posted its 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. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.72 billion. Sonoco Products had a net margin of 4.38% and a return on equity of 19.92%. The company’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.46 EPS. As a group, research analysts forecast that Sonoco Products will post 5.12 earnings per share for the current year.

Sonoco Products Company 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.