Regents Gate Capital LLP Takes Position in Sonoco Products (NYSE:SON)

Regents Gate Capital LLP acquired a new position in Sonoco Products (NYSE:SON) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 63,118 shares of the industrial products company’s stock, valued at approximately $3,083,000. Sonoco Products accounts for approximately 1.2% of Regents Gate Capital LLP’s investment portfolio, making the stock its 29th biggest position. Regents Gate Capital LLP owned approximately 0.06% of Sonoco Products at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in SON. Private Management Group Inc. boosted its holdings in shares of Sonoco Products by 27.7% in the 4th quarter. Private Management Group Inc. now owns 584,390 shares of the industrial products company’s stock valued at $28,547,000 after buying an additional 126,867 shares during the period. Synergy Asset Management LLC boosted its stake in Sonoco Products by 9.0% in the fourth quarter. Synergy Asset Management LLC now owns 66,754 shares of the industrial products company’s stock valued at $3,610,000 after acquiring an additional 5,505 shares during the period. Jane Street Group LLC grew its holdings in shares of Sonoco Products by 312.1% during the third quarter. Jane Street Group LLC now owns 185,351 shares of the industrial products company’s stock valued at $10,126,000 after purchasing an additional 140,370 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Sonoco Products by 63.2% during the 4th quarter. Nordea Investment Management AB now owns 1,129,133 shares of the industrial products company’s stock worth $55,181,000 after purchasing an additional 437,128 shares during the period. Finally, Versor Investments LP bought a new stake in shares of Sonoco Products in the 3rd quarter worth approximately $970,000. Institutional investors own 77.69% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on SON shares. Wells Fargo & Company lowered their price objective on Sonoco Products from $52.00 to $50.00 and set an “underweight” rating for the company in a research note on Monday, January 6th. Truist Financial increased their price objective on shares of Sonoco Products from $63.00 to $68.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Bank of America boosted their target price on shares of Sonoco Products from $66.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Robert W. Baird dropped their price target on shares of Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Finally, Citigroup cut their price target on Sonoco Products from $59.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $60.17.

Sonoco Products Trading Down 1.6 %

Shares of NYSE:SON opened at $46.91 on Monday. Sonoco Products has a twelve month low of $45.93 and a twelve month high of $61.73. The company has a current ratio of 2.36, a quick ratio of 1.91 and a debt-to-equity ratio of 1.74. The firm has a market cap of $4.61 billion, a P/E ratio of 16.12, a P/E/G ratio of 0.76 and a beta of 0.67. The company has a 50 day moving average of $49.02 and a 200-day moving average of $51.35.

Insider Buying and Selling at Sonoco Products

In related news, Director Robert R. Hill, Jr. sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $47.95, for a total transaction of $191,800.00. Following the completion of the sale, the director now directly owns 16,065 shares in the company, valued at approximately $770,316.75. This trade represents a 19.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.51% of the stock is currently owned by corporate insiders.

Sonoco Products Company Profile

Sonoco Products Company, together with its subsidiaries, designs, develops, manufactures, and sells various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates Consumer Packaging and Industrial Paper Packaging segments. The Consumer Packaging segment offers round and shaped rigid paper, steel, and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays and enclosures; and high-barrier flexible packaging products.