Arjuna Capital Has $1.57 Million Stock Holdings in Sonoco Products (NYSE:SON)

Arjuna Capital lowered its position in shares of Sonoco Products (NYSE:SON) by 1.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,209 shares of the industrial products company’s stock after selling 526 shares during the quarter. Arjuna Capital’s holdings in Sonoco Products were worth $1,573,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. 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 acquiring an additional 42,701 shares during the period. Nordea Investment Management AB increased its holdings 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 worth $55,181,000 after purchasing an additional 437,128 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Sonoco Products by 0.9% during the fourth quarter. Bank of New York Mellon Corp now owns 1,107,635 shares of the industrial products company’s stock worth $54,108,000 after purchasing an additional 9,899 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Sonoco Products by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,044,620 shares of the industrial products company’s stock valued at $51,030,000 after buying an additional 15,454 shares in the last quarter. Finally, Private Management Group Inc. boosted its stake in shares of Sonoco Products by 27.7% in the fourth quarter. Private Management Group Inc. now owns 584,390 shares of the industrial products company’s stock valued at $28,547,000 after buying an additional 126,867 shares during the period. Institutional investors own 77.69% of the company’s stock.

Wall Street Analyst Weigh In

SON has been the topic of a number of recent research reports. Wells Fargo & Company lowered their price objective on Sonoco Products from $50.00 to $48.00 and set an “underweight” rating on the stock in a research note on Monday, February 24th. Citigroup dropped their price target on 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 raised shares of Sonoco Products from a “sell” rating to a “hold” rating in a research report on Wednesday. Bank of America raised their target price on shares of Sonoco Products from $66.00 to $71.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Truist Financial cut their price target on shares of Sonoco Products from $68.00 to $60.00 and set a “buy” rating for the company in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Sonoco Products presently has a consensus rating of “Hold” and a consensus price target of $58.50.

Insider Activity at Sonoco Products

In other Sonoco Products news, Director Robert R. Hill, Jr. sold 4,000 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $47.95, for a total value of $191,800.00. Following the completion of the transaction, the director now directly owns 16,065 shares in the company, valued at approximately $770,316.75. This trade represents a 19.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John R. Haley purchased 3,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were purchased 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 directly owns 18,558 shares of the company’s stock, valued at approximately $867,772.08. This represents a 19.28 % increase in their position. The disclosure for this purchase can be found here. 0.51% of the stock is currently owned by company insiders.

Sonoco Products Stock Performance

Sonoco Products stock opened at $47.80 on Friday. The stock has a market cap of $4.70 billion, a PE ratio of 28.97, a P/E/G ratio of 0.76 and a beta of 0.61. The company has a quick ratio of 1.91, a current ratio of 0.79 and a debt-to-equity ratio of 2.18. Sonoco Products has a 12-month low of $44.35 and a 12-month high of $61.73. The business’s 50-day moving average price is $47.59 and its two-hundred day moving average price is $50.85.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.01). The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.67 billion. Sonoco Products had a net margin of 2.60% and a return on equity of 20.81%. As a group, analysts expect that Sonoco Products will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Wednesday, February 26th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend is Wednesday, February 26th. Sonoco Products’s payout ratio is 126.06%.

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.