Royal Bank of Canada Cuts Stake in Sonoco Products by 17.7%

Royal Bank of Canada has reduced its stake in Sonoco Products Company by selling 173,955 shares during the first quarter. The bank owned approximately 809,742 shares after this sale, which represents a decrease of 17.7% from the previous quarter.

The bank's holdings are now worth around $43.8 million, accounting for about 0.82% of Sonoco Products' total outstanding shares. This news comes as institutional investors and hedge funds continue to modify their holdings in the company.

Other notable changes in Sonoco Products' ownership include SBI Securities Co. Ltd.'s increase by 77.7% in the fourth quarter, with a stake worth around $26,000. WPG Advisers LLC also raised its holdings by 93.1% in the first quarter, now owning approximately $33,000 worth of shares.