Vanguard Amends Sonoco Products Co Stake, Reports 16M Shares

TL;DR

**Vanguard updated its Sonoco stake, still holding over 16 million shares.**

AI Summary

The Vanguard Group filed an amended SC 13G/A on February 13, 2024, indicating its beneficial ownership of Sonoco Products Co (NYSE: SON) common stock as of December 29, 2023. Vanguard reported having sole voting power over 0 shares, shared voting power over 15,007,883 shares, sole dispositive power over 0 shares, and shared dispositive power over 16,007,883 shares. This filing is an amendment (No. 11) to a previous filing, showing a slight adjustment in their reported holdings, which matters to investors as Vanguard is a major institutional holder and changes in their position can signal shifts in their investment thesis for Sonoco.

Why It Matters

This filing shows Vanguard's updated, significant stake in Sonoco Products Co, indicating their continued confidence in the company, which can reassure current and potential investors.

Risk Assessment

Risk Level: low — This filing is routine for large institutional investors and does not indicate any immediate significant risk to the company or its shareholders.

Analyst Insight

Investors should note Vanguard's continued substantial holding in Sonoco Products Co, which suggests institutional confidence, but this filing alone doesn't warrant immediate action beyond monitoring future filings for significant changes.

Key Numbers

• 16,007,883 — Total shares beneficially owned (Represents Vanguard's total updated stake in Sonoco Products Co.)
• 15,007,883 — Shares with shared voting power (Indicates the portion of shares Vanguard can vote in conjunction with others.)
• 0 — Shares with sole voting power (Shows Vanguard does not have exclusive voting control over any shares.)
• 0 — Shares with sole dispositive power (Indicates Vanguard does not have exclusive power to sell any shares.)

Key Players & Entities

• The Vanguard Group (company) — the reporting person filing the SC 13G/A
• Sonoco Products Co (company) — the issuer of the securities
• 15,007,883 (dollar_amount) — number of shares with shared voting power
• 16,007,883 (dollar_amount) — number of shares with shared dispositive power
• December 29, 2023 (date) — date of event requiring the filing
• February 13, 2024 (date) — date the filing was made

Forward-Looking Statements

• Vanguard will maintain a significant, long-term stake in Sonoco Products Co. (The Vanguard Group) — high confidence, target: 2025-12-31

FAQ

Filing Documents

• tv01952-sonocoproductsco.htm (SC 13G/A) — 11KB
• 0001104659-24-021969.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: Sonoco Products Co

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 1 North 2nd Street Hartsville, SC 29550

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 835495102

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR