State Street Amends Sonoco Products Co. Stake Filing
Ticker: SON · Form: SC 13G/A · Filed: Jan 22, 2024 · CIK: 91767
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**State Street still owns a chunk of Sonoco Products, good sign for stability.**
AI Summary
State Street Corporation, a major financial institution, has filed an amended SC 13G/A for Sonoco Products Co., indicating its ownership of the company's common stock as of December 31, 2023. This filing, made on January 22, 2024, updates their previous disclosure under Rule 13d-1(b). While the specific percentage of ownership isn't detailed in the provided text, this amendment signals that State Street continues to hold a significant, passive stake in Sonoco Products, which is important for investors as large institutional holdings can provide a degree of stability and confidence in a stock.
Why It Matters
This filing confirms State Street Corporation's continued significant, passive investment in Sonoco Products Co., which can be a positive signal for current and prospective shareholders regarding institutional confidence.
Risk Assessment
Risk Level: low — This is a routine amendment by a large institutional investor, indicating no immediate negative or highly volatile changes.
Analyst Insight
An investor should note that a major institutional investor like State Street Corporation continues to hold Sonoco Products Co. stock, suggesting a degree of stability, but should also research the specific percentage of ownership and any changes from previous filings to fully understand the implications.
Key Players & Entities
- State Street Corporation (company) — the reporting person and institutional investor
- Sonoco Products Co. (company) — the subject company whose common stock is being reported
- December 31, 2023 (date) — the date of the event requiring the filing
- January 22, 2024 (date) — the filing date of the SC 13G/A
- 835495102 (number) — the CUSIP number for Sonoco Products Co. common stock
Forward-Looking Statements
- State Street Corporation will maintain a significant, passive stake in Sonoco Products Co. for the foreseeable future. (State Street Corporation) — high confidence, target: 12/31/2024
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G filing under the Securities Exchange Act of 1934.
Who is the reporting person in this filing?
The reporting person is State Street Corporation, with IRS Identification No. 04-2456637.
What is the subject company of this filing?
The subject company is Sonoco Products Co., identified by CIK 0000091767 and CUSIP number 835495102.
What was the date of the event that required this filing?
The date of the event which required the filing of this statement was December 31, 2023.
Under which rule was this Schedule 13G/A filed?
This Schedule 13G/A was filed under Rule 13d-1(b).
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 22, 2024 regarding SONOCO PRODUCTS CO (SON).