KBC Group NV Has $183,000 Holdings in Sonoco Products (NYSE:SON)

KBC Group NV grew its position in Sonoco Products (NYSE:SON) by 42.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,750 shares of the industrial products company’s stock after buying an additional 1,120 shares during the quarter. KBC Group NV’s holdings in Sonoco Products were worth $183,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Sonoco Products by 821.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,879 shares of the industrial products company’s stock valued at $95,000 after purchasing an additional 1,675 shares during the period. Sanctuary Advisors LLC acquired a new position in Sonoco Products in the 2nd quarter valued at approximately $717,000. Handelsbanken Fonder AB lifted its position in Sonoco Products by 45.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 23,167 shares of the industrial products company’s stock worth $1,266,000 after buying an additional 7,200 shares in the last quarter. CWM LLC boosted its stake in shares of Sonoco Products by 111.6% during the 3rd quarter. CWM LLC now owns 6,454 shares of the industrial products company’s stock valued at $353,000 after buying an additional 3,404 shares during the period. Finally, Advocate Group LLC purchased a new position in shares of Sonoco Products during the 3rd quarter valued at $214,000. 77.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Sonoco Products news, Director Robert R. Hill, Jr. sold 4,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $47.95, for a total value of $191,800.00. Following the sale, the director now directly owns 16,065 shares in the company, valued at $770,316.75. This trade represents a 19.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.51% of the stock is owned by insiders.

Wall Street Analyst Weigh In

SON has been the subject of several recent research reports. Truist Financial increased their price objective on Sonoco Products from $63.00 to $68.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Bank of America boosted their price target on 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 price objective on shares of Sonoco Products from $59.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Robert W. Baird dropped their price target on shares of Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Finally, Wells Fargo & Company reduced their price objective 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 investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sonoco Products currently has a consensus rating of “Moderate Buy” and an average price target of $60.17.

Sonoco Products Stock Performance

Shares of SON opened at $48.14 on Thursday. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.36 and a quick ratio of 1.91. Sonoco Products has a one year low of $45.93 and a one year high of $61.73. The company’s fifty day moving average price is $49.19 and its 200 day moving average price is $51.41. The company has a market capitalization of $4.73 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 0.76 and a beta of 0.67.

Sonoco Products Company Profile

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.