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

Quilter Plc boosted its position in Sonoco Products (NYSE:SON) by 3.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 299,178 shares of the industrial products company’s stock after purchasing an additional 8,895 shares during the quarter. Quilter Plc’s holdings in Sonoco Products were worth $14,615,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Entropy Technologies LP bought a new stake in shares of Sonoco Products during the 4th quarter worth about $911,000. Kingsview Wealth Management LLC raised its position in shares of Sonoco Products by 17.0% during the 4th quarter. Kingsview Wealth Management LLC now owns 169,340 shares of the industrial products company’s stock worth $8,272,000 after buying an additional 24,607 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Sonoco Products by 40.1% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 16,970 shares of the industrial products company’s stock worth $829,000 after buying an additional 4,860 shares in the last quarter. Centennial Wealth Advisory LLC raised its position in shares of Sonoco Products by 15.0% during the 4th quarter. Centennial Wealth Advisory LLC now owns 6,530 shares of the industrial products company’s stock worth $319,000 after buying an additional 851 shares in the last quarter. Finally, Meadow Creek Wealth Advisors LLC acquired a new position in shares of Sonoco Products in the 4th quarter worth approximately $11,672,000. 77.69% of the stock is currently owned by institutional investors.

Insider Transactions at Sonoco Products

In related news, Director Robert R. Hill, Jr. sold 4,000 shares of the business’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 transaction, the director now directly owns 16,065 shares of the company’s stock, valued at approximately $770,316.75. The trade was a 19.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.51% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SON has been the topic of several recent research reports. Robert W. Baird lowered their price objective 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. Wells Fargo & Company lowered their price objective on shares of Sonoco Products from $52.00 to $50.00 and set an “underweight” rating on the stock in a research note on Monday, January 6th. Citigroup lowered their price objective on shares of Sonoco Products from $59.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Bank of America lifted their price objective on shares of Sonoco Products from $66.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Truist Financial lifted their price objective on shares of Sonoco Products from $63.00 to $68.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $60.17.

Sonoco Products Stock Performance

Sonoco Products stock opened at $46.91 on Monday. The firm’s 50 day simple moving average is $49.02 and its 200-day simple moving average is $51.35. The company has a market cap of $4.61 billion, a P/E ratio of 16.12, a price-to-earnings-growth ratio of 0.76 and a beta of 0.67. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.36 and a quick ratio of 1.91. Sonoco Products has a fifty-two week low of $45.93 and a fifty-two week high of $61.73.

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.