Nordea Investment Management AB Sells 113,590 Shares of Sonoco Products Company $SON

Nordea Investment Management AB cut its holdings in Sonoco Products Company (NYSE:SON) by 4.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,713,979 shares of the industrial products company’s stock after selling 113,590 shares during the period. Nordea Investment Management AB owned 2.75% of Sonoco Products worth $115,724,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. ST Germain D J Co. Inc. purchased a new stake in Sonoco Products in the second quarter worth about $26,000. TD Waterhouse Canada Inc. purchased a new stake in Sonoco Products in the 2nd quarter worth approximately $30,000. True Wealth Design LLC raised its stake 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 acquiring an additional 471 shares during the period. SouthState Corp raised its stake in Sonoco Products by 439.1% during the 2nd quarter. SouthState Corp now owns 1,240 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 1,010 shares during the period. Finally, Hilltop National Bank purchased a new position in Sonoco Products during the second quarter valued at approximately $56,000. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SON. Wells Fargo & Company restated an “equal weight” rating and set a $47.00 price objective (down from $52.00) on shares of Sonoco Products in a research report on Tuesday, January 6th. Jefferies Financial Group lowered their price objective on Sonoco Products from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. UBS Group upped their price objective on Sonoco Products from $44.00 to $48.00 and gave the stock a “neutral” rating in a research note on Monday. Zacks Research raised Sonoco Products from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. Finally, Bank of America upgraded Sonoco Products from a “neutral” rating to a “buy” rating and upped their price target for the stock from $56.00 to $60.00 in a research note on Monday, January 5th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Sonoco Products presently has a consensus rating of “Hold” and a consensus target price of $54.86.

Sonoco Products Price Performance

Shares of Sonoco Products stock opened at $47.62 on Wednesday. The firm has a market cap of $4.70 billion, a PE ratio of 7.56, a PEG ratio of 0.73 and a beta of 0.55. The stock has a 50 day moving average of $42.58 and a 200 day moving average of $43.96. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 1.14. Sonoco Products Company has a 12 month low of $38.65 and a 12 month high of $50.09.

Sonoco Products (NYSE:SON) last issued its quarterly earnings data on Wednesday, October 22nd. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.01. The business had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Sonoco Products had a return on equity of 20.49% and a net margin of 8.82%.The company’s revenue for the quarter was up 57.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.49 EPS. Sonoco Products has set its FY 2025 guidance at 5.650-5.75 EPS. On average, research analysts expect that Sonoco Products Company will post 6.1 EPS for the current fiscal year.

Insider Buying and Selling at Sonoco Products

In other Sonoco Products news, Director John R. Haley bought 2,506 shares of the firm’s stock in a transaction dated Tuesday, October 28th. The shares were purchased at an average cost of $39.87 per share, for a total transaction of $99,914.22. Following the transaction, the director owned 23,310 shares of the company’s stock, valued at $929,369.70. This represents a 12.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Paul Joachimczyk purchased 20,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The stock was bought at an average price of $39.50 per share, with a total value of $809,750.00. Following the transaction, the chief financial officer owned 20,500 shares of the company’s stock, valued at $809,750. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. 0.74% of the stock is owned by company insiders.

Sonoco Products 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.