Strs Ohio Sells 52,071 Shares of Sonoco Products Company $SON

Strs Ohio cut its holdings in Sonoco Products Company (NYSE:SON) by 95.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,354 shares of the industrial products company’s stock after selling 52,071 shares during the period. Strs Ohio’s holdings in Sonoco Products were worth $101,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SON. TD Waterhouse Canada Inc. purchased a new stake in shares of Sonoco Products during the second quarter worth $30,000. True Wealth Design LLC lifted its holdings in Sonoco Products by 172.5% during the 3rd quarter. True Wealth Design LLC now owns 744 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 471 shares in the last quarter. SouthState Corp boosted its stake in Sonoco Products by 439.1% in the 2nd quarter. SouthState Corp now owns 1,240 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 1,010 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Sonoco Products by 315.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,587 shares of the industrial products company’s stock valued at $69,000 after buying an additional 1,205 shares in the last quarter. Finally, Richardson Financial Services Inc. grew its holdings in Sonoco Products by 13.2% during the 2nd quarter. Richardson Financial Services Inc. now owns 2,185 shares of the industrial products company’s stock valued at $100,000 after buying an additional 255 shares in the last quarter. Institutional investors own 77.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Jefferies Financial Group cut their price objective on shares of Sonoco Products from $61.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, October 24th. Weiss Ratings reissued a “hold (c-)” rating on shares of Sonoco Products in a report on Wednesday, January 21st. Raymond James Financial set a $60.00 price target on shares of Sonoco Products in a report on Monday, January 5th. UBS Group lifted their price objective 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, Zacks Research upgraded Sonoco Products from a “strong sell” rating to a “hold” rating in a research note 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. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $54.86.

Sonoco Products Stock Up 5.2%

Shares of NYSE:SON opened at $51.58 on Thursday. The firm has a market capitalization of $5.09 billion, a PE ratio of 8.19, a price-to-earnings-growth ratio of 0.76 and a beta of 0.54. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.58 and a current ratio of 0.92. Sonoco Products Company has a 52-week low of $38.65 and a 52-week high of $51.74. The firm has a fifty day moving average of $45.13 and a 200 day moving average of $44.27.

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.