Thrivent Financial for Lutherans Cuts Stock Holdings in Sonoco Products Company $SON

Thrivent Financial for Lutherans decreased its position in Sonoco Products Company (NYSE:SON) by 33.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,406 shares of the industrial products company’s stock after selling 25,543 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.05% of Sonoco Products worth $2,172,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in SON. TD Waterhouse Canada Inc. bought a new stake in Sonoco Products in the 2nd quarter worth about $30,000. True Wealth Design LLC boosted its stake 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 worth $32,000 after buying an additional 471 shares during the last quarter. SouthState Corp grew its holdings in shares of Sonoco Products by 439.1% in the second quarter. SouthState Corp now owns 1,240 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 1,010 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Sonoco Products by 315.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,587 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 1,205 shares during the last quarter. Finally, Caldwell Trust Co bought a new stake in Sonoco Products during the second quarter worth $102,000. 77.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SON has been the subject of a number of recent analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of Sonoco Products in a research note on Wednesday, January 21st. Jefferies Financial Group reduced their price target 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. Wall Street Zen upgraded shares of Sonoco Products from a “hold” rating to a “buy” rating in a report on Saturday. Zacks Research upgraded shares of Sonoco Products from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. Finally, Bank of America raised shares of Sonoco Products from a “neutral” rating to a “buy” rating and increased their target price for the company from $56.00 to $60.00 in a research report on Monday, January 5th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $54.86.

Sonoco Products Trading Up 1.1%

Shares of Sonoco Products stock opened at $51.33 on Wednesday. The stock has a market capitalization of $5.06 billion, a P/E ratio of 8.15, a P/E/G ratio of 0.79 and a beta of 0.54. Sonoco Products Company has a 52-week low of $38.65 and a 52-week high of $51.83. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.58 and a current ratio of 0.92. The stock’s 50-day simple moving average is $45.87 and its 200 day simple moving average is $44.33.

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.