American Century Companies Inc. lifted its holdings in shares of Sonoco Products Co (NYSE:SON) by 7.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,199,869 shares of the industrial products company’s stock after purchasing an additional 232,148 shares during the quarter. American Century Companies Inc. owned 3.21% of Sonoco Products worth $170,009,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC lifted its holdings in Sonoco Products by 36.0% in the third quarter. Commonwealth Equity Services LLC now owns 18,170 shares of the industrial products company’s stock worth $1,008,000 after purchasing an additional 4,806 shares during the period. SG Americas Securities LLC raised its holdings in Sonoco Products by 31.0% during the 3rd quarter. SG Americas Securities LLC now owns 30,600 shares of the industrial products company’s stock worth $1,698,000 after buying an additional 7,247 shares during the period. Bank of New York Mellon Corp raised its holdings in Sonoco Products by 1.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,385,579 shares of the industrial products company’s stock worth $76,899,000 after buying an additional 17,255 shares during the period. BlackRock Inc. raised its holdings in Sonoco Products by 1.4% during the 3rd quarter. BlackRock Inc. now owns 10,995,170 shares of the industrial products company’s stock worth $610,232,000 after buying an additional 146,538 shares during the period. Finally, Trexquant Investment LP acquired a new stake in Sonoco Products during the 3rd quarter worth about $216,000. 74.49% of the stock is currently owned by institutional investors.
Shares of NYSE SON traded up $0.01 during trading hours on Monday, hitting $62.63. The stock had a trading volume of 350,200 shares, compared to its average volume of 511,185. Sonoco Products Co has a 52 week low of $49.71 and a 52 week high of $62.96. The stock has a market cap of $6.26 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 3.81 and a beta of 1.01. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.95 and a current ratio of 1.40.
In other Sonoco Products news, VP Marcy J. Thompson sold 1,465 shares of Sonoco Products stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $60.02, for a total value of $87,929.30. Following the completion of the transaction, the vice president now directly owns 15,410 shares of the company’s stock, valued at approximately $924,908.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kevin P. Mahoney sold 1,119 shares of Sonoco Products stock in a transaction on Monday, February 25th. The shares were sold at an average price of $59.57, for a total value of $66,658.83. Following the completion of the transaction, the senior vice president now directly owns 2,295 shares of the company’s stock, valued at $136,713.15. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,829 shares of company stock valued at $1,245,466. Corporate insiders own 1.30% of the company’s stock.
Several equities analysts have weighed in on the company. Zacks Investment Research cut Sonoco Products from a “buy” rating to a “hold” rating in a research note on Monday, December 17th. KeyCorp reaffirmed a “hold” rating on shares of Sonoco Products in a research note on Thursday, February 14th. Finally, Wells Fargo & Co reaffirmed a “hold” rating on shares of Sonoco Products in a research note on Thursday, February 14th. Five equities research analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and a consensus price target of $56.50.
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Sonoco Products Company Profile
Sonoco Products Company manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through four segments: Consumer Packaging, Display and Packaging, Paper and Industrial Converted Products, and Protective Solutions. The Consumer Packaging segment offers composite and thermoformed plastic round and shaped rigid containers and trays; extruded and injection-molded plastic products; printed flexible packaging products; brand artwork management; and metal and peelable membrane ends and closures.
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