Quilter Plc Grows Holdings in Sonoco Products (NYSE:SON)

Quilter Plc grew its stake in shares of Sonoco Products (NYSE:SON - Free Report) by 3.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 299,178 shares of the industrial products company's stock after purchasing an additional 8,895 shares during the period. Quilter Plc owned approximately 0.30% of Sonoco Products worth $14,615,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Entropy Technologies LP purchased a new stake in shares of Sonoco Products in the 4th quarter worth about $911,000. Kingsview Wealth Management LLC boosted its position in shares of Sonoco Products by 17.0% in 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. boosted its position in shares of Sonoco Products by 40.1% in 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 boosted its position in shares of Sonoco Products by 15.0% in 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 purchased a new stake in shares of Sonoco Products in the 4th quarter worth about $11,672,000. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Truist Financial boosted their price objective on shares of Sonoco Products from $63.00 to $68.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Bank of America boosted their target price on shares of Sonoco Products from $66.00 to $71.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Citigroup cut their target price on shares of Sonoco Products from $59.00 to $55.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Robert W. Baird cut their target price on shares of Sonoco Products from $58.00 to $55.00 and set a "neutral" rating for the company in a research note on Monday, November 4th. Finally, Wells Fargo & Company cut their target price on shares of Sonoco Products from $52.00 to $50.00 and set an "underweight" rating for the company in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $60.17.

Insider Activity

In related news, Director Robert R. Hill, Jr. sold 4,000 shares of the 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 completion of the sale, the director now owns 16,065 shares of the company's stock, valued at approximately $770,316.75. This represents a 19.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.51% of the company's stock.

Sonoco Products Trading Up 3.1 %

Shares of NYSE SON traded up $1.43 on Thursday, reaching $48.25. 620,413 shares of the company traded hands, compared to its average volume of 719,328. Sonoco Products has a fifty-two week low of $45.93 and a fifty-two week high of $61.73. The company has a 50 day moving average of $48.67 and a 200 day moving average of $51.23. The company has a current ratio of 2.36, a quick ratio of 1.91 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $4.74 billion, a PE ratio of 16.58, a P/E/G ratio of 0.76 and a beta of 0.67.

Sonoco Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Wednesday, February 26th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.31%. Sonoco Products's dividend payout ratio is currently 71.48%.

About Sonoco Products

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.