Man Group plc acquired a new stake in shares of Sonoco Products Company (NYSE:SON – Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 17,379 shares of the industrial products company’s stock, valued at approximately $979,000.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Baker Ellis Asset Management LLC increased its stake in Sonoco Products by 3.9% during the 1st quarter. Baker Ellis Asset Management LLC now owns 5,307 shares of the industrial products company’s stock worth $287,000 after buying an additional 201 shares during the period. Powell Investment Advisors LLC boosted its position in Sonoco Products by 1.0% in the 4th quarter. Powell Investment Advisors LLC now owns 20,718 shares of the industrial products company’s stock valued at $904,000 after buying an additional 203 shares during the last quarter. IFP Advisors Inc grew its stake in shares of Sonoco Products by 8.6% during the fourth quarter. IFP Advisors Inc now owns 2,996 shares of the industrial products company’s stock valued at $131,000 after acquiring an additional 237 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Sonoco Products by 11.2% during the first quarter. EverSource Wealth Advisors LLC now owns 2,476 shares of the industrial products company’s stock worth $134,000 after acquiring an additional 249 shares during the last quarter. Finally, SBI Securities Co. Ltd. lifted its stake in shares of Sonoco Products by 77.7% in the fourth quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 258 shares in the last quarter. 77.69% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on SON. Citigroup raised their price objective on Sonoco Products from $63.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Bank of America lowered Sonoco Products from a “buy” rating to a “neutral” rating and cut their target price for the company from $69.00 to $60.00 in a research report on Thursday. Truist Financial increased their target price on Sonoco Products from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Finally, Weiss Ratings upgraded shares of Sonoco Products from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 26th. Five research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $60.78.
Sonoco Products Stock Performance
Shares of SON opened at $52.77 on Friday. The stock has a market capitalization of $5.22 billion, a PE ratio of 8.39, a price-to-earnings-growth ratio of 1.27 and a beta of 0.36. The business’s fifty day moving average price is $56.64 and its 200 day moving average price is $53.77. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.99 and a quick ratio of 0.55. Sonoco Products Company has a 12-month low of $38.65 and a 12-month high of $60.67.
Sonoco Products (NYSE:SON – Get Free Report) last released its earnings results on Wednesday, July 22nd. The industrial products company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.04. Sonoco Products had a net margin of 8.41% and a return on equity of 16.50%. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the previous year, the firm earned $1.37 earnings per share. The firm’s revenue for the quarter 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. Equities research analysts forecast that Sonoco Products Company will post 5.8 EPS for the current year.
Sonoco Products Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 10th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Monday, August 10th. Sonoco Products’s dividend 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.
Featured Stories
- Five stocks we like better than Sonoco Products
- The Path to $230 Billion: Broadcom Outlines the Next Phase of Its AI Growth Story
- NVIDIA’s Hugging Face Deal Raises a Bigger Question About Its AI Moat Now
- Dropping the Dough: Yum! Brands Strategically Trims the Fat
- These 3 Stock Charts Just Flashed the Dreaded Death Cross Pattern
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 Company (NYSE:SON – Free Report).
Receive News & Ratings for Sonoco Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sonoco Products and related companies with MarketBeat.com's FREE daily email newsletter.
