Teacher Retirement System of Texas Sells 11,492 Shares of Sonoco Products Company $SON

Teacher Retirement System of Texas lowered its stake in shares of Sonoco Products Company (NYSE:SON) by 46.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,314 shares of the industrial products company’s stock after selling 11,492 shares during the period. Teacher Retirement System of Texas’ holdings in Sonoco Products were worth $574,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Naples Global Advisors LLC grew its holdings in Sonoco Products by 0.7% during the third quarter. Naples Global Advisors LLC now owns 58,694 shares of the industrial products company’s stock valued at $2,529,000 after purchasing an additional 426 shares during the period. Bailard Inc. bought a new position in shares of Sonoco Products during the 3rd quarter worth $1,064,000. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in Sonoco Products by 11.6% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 40,467 shares of the industrial products company’s stock worth $1,744,000 after acquiring an additional 4,217 shares during the last quarter. Rede Wealth LLC bought a new stake in Sonoco Products in the 3rd quarter valued at about $540,000. Finally, Arkadios Wealth Advisors raised its stake in Sonoco Products by 2.9% in the 3rd quarter. Arkadios Wealth Advisors now owns 22,823 shares of the industrial products company’s stock valued at $983,000 after acquiring an additional 645 shares during the period. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SON shares. UBS Group increased their target price on shares of Sonoco Products from $44.00 to $48.00 and gave the stock a “neutral” rating in a research report on Monday, January 12th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Sonoco Products in a report on Wednesday, January 21st. Bank of America upgraded shares of Sonoco Products from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $56.00 to $60.00 in a research note on Monday, January 5th. Raymond James Financial set a $60.00 target price on shares of Sonoco Products in a report on Monday, January 5th. Finally, Truist Financial raised their price target on Sonoco Products from $53.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $54.86.

Sonoco Products Stock Up 5.2%

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

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.