Wealth Enhancement Advisory Services LLC Has $3.72 Million Stock Holdings in Sonoco Products Company $SON

Wealth Enhancement Advisory Services LLC increased its stake in shares of Sonoco Products Company (NYSE:SON) by 47.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,670 shares of the industrial products company’s stock after buying an additional 28,274 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.09% of Sonoco Products worth $3,723,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SON. CFC Planning Co LLC acquired a new position in shares of Sonoco Products during the third quarter worth approximately $200,000. Sequoia Financial Advisors LLC increased its holdings in shares of Sonoco Products by 16.2% in the third quarter. Sequoia Financial Advisors LLC now owns 23,112 shares of the industrial products company’s stock valued at $996,000 after purchasing an additional 3,223 shares in the last quarter. Richardson Financial Services Inc. raised its position in Sonoco Products by 43.9% in the 3rd quarter. Richardson Financial Services Inc. now owns 3,145 shares of the industrial products company’s stock worth $136,000 after purchasing an additional 960 shares during the last quarter. Pinion Investment Advisors LLC lifted its holdings in Sonoco Products by 25.5% during the 3rd quarter. Pinion Investment Advisors LLC now owns 18,226 shares of the industrial products company’s stock worth $736,000 after buying an additional 3,700 shares in the last quarter. Finally, First Horizon Corp bought a new position in Sonoco Products in the 3rd quarter valued at $273,000. Institutional investors and hedge funds own 77.69% of the company’s stock.

Sonoco Products Trading Down 0.9%

NYSE SON opened at $48.49 on Wednesday. The firm has a market cap of $4.78 billion, a P/E ratio of 7.70, a P/E/G 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. The stock’s 50-day moving average is $44.19 and its 200-day moving average is $44.14. Sonoco Products Company has a one year low of $38.65 and a one year high of $50.09.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SON. UBS Group upped their price target on Sonoco Products from $44.00 to $48.00 and gave the company a “neutral” rating in a research note on Monday, January 12th. Zacks Research upgraded shares of Sonoco Products from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Raymond James Financial set a $60.00 price target on shares of Sonoco Products in a research report on Monday, January 5th. Weiss Ratings restated a “hold (c-)” rating on shares of Sonoco Products in a report on Wednesday, January 21st. Finally, Truist Financial lifted their target price on shares of Sonoco Products from $53.00 to $54.00 and gave the stock a “buy” rating in a 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 stock. According to MarketBeat, Sonoco Products presently 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.