Sonoco Products (NYSE:SON) Shares Purchased by Quilter Plc

Quilter Plc increased its position in shares of Sonoco Products (NYSE:SON) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 299,178 shares of the industrial products company’s stock after purchasing an additional 8,895 shares during the period. Quilter Plc owned 0.30% of Sonoco Products worth $14,615,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC lifted its position in Sonoco Products by 2.3% in the third quarter. Geode Capital Management LLC now owns 1,863,756 shares of the industrial products company’s stock valued at $101,842,000 after acquiring an additional 42,701 shares during the last quarter. Nordea Investment Management AB lifted its position in Sonoco Products by 63.2% in the fourth quarter. Nordea Investment Management AB now owns 1,129,133 shares of the industrial products company’s stock valued at $55,181,000 after acquiring an additional 437,128 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Sonoco Products by 50.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,029,166 shares of the industrial products company’s stock valued at $56,223,000 after acquiring an additional 344,658 shares during the last quarter. Private Management Group Inc. lifted its position in Sonoco Products by 27.7% in the fourth quarter. Private Management Group Inc. now owns 584,390 shares of the industrial products company’s stock valued at $28,547,000 after acquiring an additional 126,867 shares during the last quarter. Finally, FMR LLC lifted its position in Sonoco Products by 70.1% in the third quarter. FMR LLC now owns 559,596 shares of the industrial products company’s stock valued at $30,571,000 after acquiring an additional 230,709 shares during the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, Director Robert R. Hill, Jr. sold 4,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $47.95, for a total value of $191,800.00. Following the sale, the director now directly owns 16,065 shares in the company, valued at $770,316.75. This represents a 19.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.51% of the stock is currently owned by company insiders.

Sonoco Products Trading Down 1.6 %

Shares of SON opened at $46.91 on Monday. 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’s 50-day moving average is $49.02 and its two-hundred day moving average is $51.35. Sonoco Products has a twelve month low of $45.93 and a twelve month high of $61.73. The firm has a market capitalization of $4.61 billion, a P/E ratio of 16.12, a PEG ratio of 0.76 and a beta of 0.67.

Sonoco Products 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.