UniSuper Management Pty Ltd Sells 22,729 Shares of Sonoco Products Company $SON

UniSuper Management Pty Ltd trimmed its position in Sonoco Products Company (NYSE:SON) by 19.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 93,182 shares of the industrial products company’s stock after selling 22,729 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Sonoco Products were worth $4,015,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SON. ST Germain D J Co. Inc. bought a new stake in shares of Sonoco Products in the second quarter valued at about $26,000. TD Waterhouse Canada Inc. purchased a new position in Sonoco Products during the 2nd quarter valued at about $30,000. True Wealth Design LLC raised its holdings in shares of Sonoco Products by 172.5% in the 3rd quarter. True Wealth Design LLC now owns 744 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 471 shares in the last quarter. SouthState Corp raised its holdings in shares of Sonoco Products by 439.1% in the 2nd quarter. SouthState Corp now owns 1,240 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 1,010 shares in the last quarter. Finally, Hilltop National Bank purchased a new stake in shares of Sonoco Products in the 2nd quarter worth approximately $56,000. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Sonoco Products Stock Down 0.3%

Shares of SON stock opened at $48.63 on Monday. The stock’s fifty day moving average price is $43.85 and its 200 day moving average price is $44.11. Sonoco Products Company has a 1-year low of $38.65 and a 1-year high of $50.09. The company has a market cap of $4.80 billion, a price-to-earnings ratio of 7.72, a price-to-earnings-growth ratio of 0.76 and a beta of 0.55. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.92 and a quick ratio of 0.58.

Insider Transactions at Sonoco Products

In related news, Director John R. Haley bought 2,506 shares of the company’s stock in a transaction on Tuesday, October 28th. The shares were bought at an average price of $39.87 per share, with a total value of $99,914.22. Following the transaction, the director owned 23,310 shares in the company, valued at approximately $929,369.70. This trade represents a 12.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Paul Joachimczyk purchased 20,500 shares of the business’s stock in a transaction on Wednesday, October 29th. The shares were bought at an average price of $39.50 per share, for a total transaction of $809,750.00. Following the purchase, the chief financial officer directly owned 20,500 shares in the company, valued at $809,750. This represents a ? increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.74% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SON shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Sonoco Products in a research note on Wednesday. Bank of America upgraded Sonoco Products from a “neutral” rating to a “buy” rating and lifted their price target for the company from $56.00 to $60.00 in a report on Monday, January 5th. Truist Financial upped their price objective on Sonoco Products from $53.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. UBS Group lifted their target price on Sonoco Products from $44.00 to $48.00 and gave the company a “neutral” rating in a research note on Monday, January 12th. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $47.00 price target (down from $52.00) on shares of Sonoco Products in a research report on Tuesday, January 6th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $54.86.

Sonoco Products Company Profile

Sonoco Products Company (NYSE: SON) is a global provider of diversified packaging solutions, serving a wide range of consumer, industrial and retail markets. The company offers a broad portfolio that includes rigid paper and plastic containers, flexible packaging, industrial core and tube products, thermoformed plastics, retail point-of-purchase displays, and packaging supply chain services. Through its solutions, Sonoco helps customers in food and beverage, personal care, chemicals, healthcare, home and garden, and electronics industries address their packaging needs, improve product shelf appeal, and optimize logistics efficiency.

With operations in more than 30 countries across North America, South America, Europe, Asia and Africa, Sonoco leverages a global network of manufacturing facilities, recycling centers and distribution channels to meet the demands of multinational and regional customers.