Quantbot Technologies LP Makes New Investment in Sonoco Products (NYSE:SON)

Quantbot Technologies LP purchased a new position in shares of Sonoco Products (NYSE:SONFree Report) during the third quarter, HoldingsChannel reports. The firm purchased 11,600 shares of the industrial products company’s stock, valued at approximately $630,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new stake in shares of Sonoco Products in the second quarter valued at approximately $34,000. Authentikos Wealth Advisory LLC bought a new stake in Sonoco Products during the third quarter worth $34,000. ST Germain D J Co. Inc. bought a new stake in Sonoco Products during the second quarter worth $40,000. Dark Forest Capital Management LP acquired a new position in shares of Sonoco Products during the first quarter worth $50,000. Finally, Pinnacle Holdings LLC acquired a new position in shares of Sonoco Products during the first quarter worth $58,000. Institutional investors and hedge funds own 76.20% of the company’s stock.

Sonoco Products Stock Performance

Shares of Sonoco Products stock opened at $56.45 on Wednesday. The company has a current ratio of 1.89, a quick ratio of 1.19 and a debt-to-equity ratio of 1.37. The business has a 50-day moving average price of $56.49 and a two-hundred day moving average price of $55.56. Sonoco Products has a 1-year low of $49.98 and a 1-year high of $63.74. The company has a market cap of $5.53 billion, a P/E ratio of 11.38, a PEG ratio of 2.04 and a beta of 0.69.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SON shares. StockNews.com upgraded shares of Sonoco Products from a “hold” rating to a “buy” rating in a report on Tuesday, November 28th. Wells Fargo & Company decreased their price objective on Sonoco Products from $55.00 to $50.00 and set an “equal weight” rating for the company in a report on Thursday, October 19th. Finally, Citigroup decreased their price objective on Sonoco Products from $69.00 to $65.00 in a report on Tuesday, October 10th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $61.40.

Read Our Latest Analysis on Sonoco Products

About Sonoco Products

(Free Report)

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 through two segments: Consumer Packaging and Industrial Paper Packaging.

See Also

Want to see what other hedge funds are holding SON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sonoco Products (NYSE:SONFree Report).

Institutional Ownership by Quarter for Sonoco Products (NYSE:SON)

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