Sonoco Products Company $SON Shares Purchased by Access Investment Management LLC

Access Investment Management LLC grew its position in shares of Sonoco Products Company (NYSE:SON) by 7.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 259,875 shares of the industrial products company’s stock after purchasing an additional 17,685 shares during the quarter. Sonoco Products accounts for 3.0% of Access Investment Management LLC’s holdings, making the stock its 10th largest holding. Access Investment Management LLC’s holdings in Sonoco Products were worth $11,198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of SON. TD Waterhouse Canada Inc. acquired a new stake in Sonoco Products during the second quarter worth approximately $30,000. True Wealth Design LLC lifted its stake in shares of Sonoco Products by 172.5% during the 3rd quarter. True Wealth Design LLC now owns 744 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 471 shares during the period. SouthState Corp boosted its holdings in shares of Sonoco Products by 439.1% during the second quarter. SouthState Corp now owns 1,240 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 1,010 shares during the last quarter. Hilltop National Bank purchased a new stake in shares of Sonoco Products in the second quarter valued at $56,000. Finally, EverSource Wealth Advisors LLC increased its stake in Sonoco Products by 315.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,587 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 1,205 shares during the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.

Wall Street Analyst Weigh In

SON has been the subject of several recent analyst reports. Bank of America upgraded Sonoco Products from a “neutral” rating to a “buy” rating and lifted their price target for the company from $56.00 to $60.00 in a report on Monday, January 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of Sonoco Products in a research report on Wednesday, January 21st. Zacks Research upgraded Sonoco Products from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Raymond James Financial set a $60.00 price objective on shares of Sonoco Products in a report on Monday, January 5th. Finally, UBS Group upped their target price on Sonoco Products from $44.00 to $48.00 and gave the company a “neutral” rating in a research report on Monday, January 12th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Sonoco Products currently has an average rating of “Hold” and an average price target of $54.86.

Sonoco Products Stock Performance

Shares of SON opened at $47.94 on Friday. Sonoco Products Company has a 52-week low of $38.65 and a 52-week high of $50.09. The firm has a market capitalization of $4.73 billion, a PE ratio of 7.61, a P/E/G ratio of 0.74 and a beta of 0.55. The firm has a 50-day moving average price of $44.64 and a 200 day moving average price of $44.19. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 1.14.

Sonoco Products 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.