D.B. Root & Company LLC bought a new position in shares of Sonoco Products Company (NYSE:SON – Free Report) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 13,278 shares of the industrial products company’s stock, valued at approximately $748,000.
A number of other large investors have also recently modified their holdings of SON. SBI Securities Co. Ltd. increased its stake in shares of Sonoco Products by 77.7% in the 4th quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 258 shares during the last quarter. LRI Investments LLC acquired a new position in shares of Sonoco Products during the 4th quarter worth $29,000. WPG Advisers LLC lifted its position in shares of Sonoco Products by 93.1% during the 1st quarter. WPG Advisers LLC now owns 612 shares of the industrial products company’s stock worth $33,000 after buying an additional 295 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of Sonoco Products by 1,826.9% during the 3rd quarter. Larson Financial Group LLC now owns 1,002 shares of the industrial products company’s stock worth $43,000 after buying an additional 950 shares during the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new stake in Sonoco Products in the fourth quarter valued at about $47,000. Institutional investors and hedge funds own 77.69% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have issued reports on SON. Bank of America lifted their target price on Sonoco Products from $65.00 to $69.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Truist Financial increased their target price on shares of Sonoco Products from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Wall Street Zen downgraded shares of Sonoco Products from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Weiss Ratings raised shares of Sonoco Products from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 3rd. Finally, Citigroup upped their price objective on shares of Sonoco Products from $63.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Five analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Sonoco Products currently has an average rating of “Hold” and a consensus price target of $61.78.
Sonoco Products Price Performance
Sonoco Products stock opened at $59.51 on Monday. The stock has a 50-day moving average price of $55.83 and a two-hundred day moving average price of $53.46. Sonoco Products Company has a 12 month low of $38.65 and a 12 month high of $60.67. The company has a market capitalization of $5.88 billion, a PE ratio of 9.46, a P/E/G ratio of 1.26 and a beta of 0.37. The company has a current ratio of 0.99, a quick ratio of 0.55 and a debt-to-equity ratio of 0.97.
Sonoco Products (NYSE:SON – Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.04. Sonoco Products had a return on equity of 16.50% and a net margin of 8.41%.The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the previous year, the business posted $1.37 earnings per share. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. Analysts expect that Sonoco Products Company will post 5.8 EPS for the current year.
Sonoco Products Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 10th will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Monday, August 10th. Sonoco Products’s payout ratio is presently 34.34%.
About Sonoco Products
Sonoco Products Company (NYSE: SON) is a global provider of diversified packaging solutions, serving a wide range of consumer, industrial and retail markets. The company offers a broad portfolio that includes rigid paper and plastic containers, flexible packaging, industrial core and tube products, thermoformed plastics, retail point-of-purchase displays, and packaging supply chain services. Through its solutions, Sonoco helps customers in food and beverage, personal care, chemicals, healthcare, home and garden, and electronics industries address their packaging needs, improve product shelf appeal, and optimize logistics efficiency.
With operations in more than 30 countries across North America, South America, Europe, Asia and Africa, Sonoco leverages a global network of manufacturing facilities, recycling centers and distribution channels to meet the demands of multinational and regional customers.
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