US Bancorp DE raised its stake in Sonoco Products Co (NYSE:SON) by 3.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,431 shares of the industrial products company’s stock after acquiring an additional 1,791 shares during the period. US Bancorp DE owned approximately 0.06% of Sonoco Products worth $3,052,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in SON. Tudor Investment Corp ET AL acquired a new position in Sonoco Products in the 2nd quarter valued at $220,000. Janus Henderson Group PLC acquired a new position in Sonoco Products in the 2nd quarter valued at $33,327,000. The Manufacturers Life Insurance Company raised its holdings in Sonoco Products by 1.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 146,067 shares of the industrial products company’s stock valued at $7,511,000 after acquiring an additional 2,626 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Sonoco Products by 3.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 9,568 shares of the industrial products company’s stock valued at $492,000 after acquiring an additional 338 shares in the last quarter. Finally, Verition Fund Management LLC raised its holdings in Sonoco Products by 238.3% in the 2nd quarter. Verition Fund Management LLC now owns 10,373 shares of the industrial products company’s stock valued at $533,000 after acquiring an additional 17,873 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.
Sonoco Products Co (NYSE SON) opened at $50.19 on Wednesday. The company has a current ratio of 1.59, a quick ratio of 1.11 and a debt-to-equity ratio of 0.74. Sonoco Products Co has a fifty-two week low of $47.10 and a fifty-two week high of $55.77. The company has a market capitalization of $5,001.85, a price-to-earnings ratio of 18.78, a PEG ratio of 3.45 and a beta of 1.12.
Several equities analysts have weighed in on SON shares. Zacks Investment Research raised Sonoco Products from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. KeyCorp reissued a “hold” rating on shares of Sonoco Products in a report on Thursday, October 19th. Barclays boosted their price target on Sonoco Products from $48.00 to $49.00 and gave the stock an “underweight” rating in a report on Friday, October 20th. Finally, Robert W. Baird reissued a “buy” rating and set a $60.00 price target on shares of Sonoco Products in a report on Friday, November 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. Sonoco Products has a consensus rating of “Hold” and an average price target of $53.43.
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Sonoco Products Company Profile
Sonoco Products Company is engaged in manufacturing of industrial and consumer packaging products, and providing packaging services. The Company operates in four segments: Consumer Packaging, Paper and Industrial Converted Products, Display and Packaging, and Protective Solutions. Its Consumer Packaging segment’s products and services include round composite cans, aluminum, steel and peelable membrane easy-open closures for composite and metal cans; plastic bottles, cups and trays, and printed flexible packaging and global brand management.
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