Sonoco Products Company $SON Shares Acquired by Savant Capital LLC

Savant Capital LLC increased its position in Sonoco Products Company (NYSE:SON) by 415.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 37,875 shares of the industrial products company’s stock after buying an additional 30,520 shares during the period. Savant Capital LLC’s holdings in Sonoco Products were worth $1,632,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in Sonoco Products by 0.3% during the second quarter. State Street Corp now owns 4,470,449 shares of the industrial products company’s stock worth $194,733,000 after acquiring an additional 13,161 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Sonoco Products by 70.1% during the 2nd quarter. Nordea Investment Management AB now owns 2,827,569 shares of the industrial products company’s stock worth $122,914,000 after purchasing an additional 1,164,849 shares during the period. Bank of America Corp DE increased its position in Sonoco Products by 6.1% during the 2nd quarter. Bank of America Corp DE now owns 2,804,621 shares of the industrial products company’s stock worth $122,169,000 after purchasing an additional 162,262 shares in the last quarter. Sei Investments Co. raised its holdings in Sonoco Products by 1.3% in the second quarter. Sei Investments Co. now owns 1,398,881 shares of the industrial products company’s stock valued at $60,935,000 after buying an additional 18,308 shares during the period. Finally, Norges Bank acquired a new position in Sonoco Products during the second quarter valued at approximately $53,618,000. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on SON. Wells Fargo & Company reissued an “equal weight” rating and issued a $47.00 price objective (down previously from $52.00) on shares of Sonoco Products in a research report on Tuesday, January 6th. UBS Group raised their price objective on Sonoco Products from $44.00 to $48.00 and gave the company a “neutral” rating in a research report on Monday, January 12th. Jefferies Financial Group reduced their price objective on Sonoco Products from $61.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, October 24th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Sonoco Products in a report on Wednesday, January 21st. Finally, Zacks Research raised shares of Sonoco Products from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Sonoco Products has a consensus rating of “Hold” and a consensus target price of $54.86.

Sonoco Products Trading Up 1.2%

Shares of SON opened at $51.41 on Monday. Sonoco Products Company has a one year low of $38.65 and a one year high of $51.83. The stock has a 50-day moving average price of $45.49 and a 200 day moving average price of $44.30. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.58 and a current ratio of 0.92. The company has a market capitalization of $5.07 billion, a P/E ratio of 8.16, a P/E/G ratio of 0.80 and a beta of 0.54.

Sonoco Products Company Profile

Sonoco Products Company (NYSE: SON) is a global provider of diversified packaging solutions, serving a wide range of consumer, industrial and retail markets. The company offers a broad portfolio that includes rigid paper and plastic containers, flexible packaging, industrial core and tube products, thermoformed plastics, retail point-of-purchase displays, and packaging supply chain services. Through its solutions, Sonoco helps customers in food and beverage, personal care, chemicals, healthcare, home and garden, and electronics industries address their packaging needs, improve product shelf appeal, and optimize logistics efficiency.

With operations in more than 30 countries across North America, South America, Europe, Asia and Africa, Sonoco leverages a global network of manufacturing facilities, recycling centers and distribution channels to meet the demands of multinational and regional customers.