State of Alaska Department of Revenue boosted its stake in shares of Sonoco Products Company (NYSE:SON – Free Report) by 334.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 61,368 shares of the industrial products company’s stock after buying an additional 47,255 shares during the quarter. State of Alaska Department of Revenue’s holdings in Sonoco Products were worth $2,995,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of the stock. First Citizens Bank & Trust Co. grew its holdings in Sonoco Products by 32.0% during the third quarter. First Citizens Bank & Trust Co. now owns 26,675 shares of the industrial products company’s stock valued at $1,302,000 after purchasing an additional 6,465 shares during the period. Salem Investment Counselors Inc. raised its stake in shares of Sonoco Products by 2.8% in the third quarter. Salem Investment Counselors Inc. now owns 110,307 shares of the industrial products company’s stock worth $5,385,000 after buying an additional 2,995 shares during the period. Steel Grove Capital Advisors LLC raised its stake in shares of Sonoco Products by 14.5% in the third quarter. Steel Grove Capital Advisors LLC now owns 38,469 shares of the industrial products company’s stock worth $1,878,000 after buying an additional 4,862 shares during the period. NorthCrest Asset Manangement LLC bought a new position in shares of Sonoco Products in the third quarter worth about $481,000. Finally, Sound Income Strategies LLC lifted its position in shares of Sonoco Products by 2.3% during the 3rd quarter. Sound Income Strategies LLC now owns 316,637 shares of the industrial products company’s stock valued at $15,325,000 after buying an additional 7,095 shares in the last quarter. Institutional investors own 77.69% of the company’s stock.
Sonoco Products Stock Performance
Shares of NYSE SON opened at $49.77 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.55 and a current ratio of 0.99. The company has a market cap of $4.92 billion, a P/E ratio of 7.91, a P/E/G ratio of 1.27 and a beta of 0.35. The firm’s fifty day moving average is $52.12 and its two-hundred day moving average is $52.67. Sonoco Products Company has a 52-week low of $38.65 and a 52-week high of $60.67.
Sonoco Products (NYSE:SON – Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $1.51 EPS 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 business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the firm earned $1.37 EPS. The business’s revenue was down 1.3% on a year-over-year basis. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. As a group, analysts anticipate that Sonoco Products Company will post 5.68 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of research firms have weighed in on SON. UBS Group dropped their price target on shares of Sonoco Products from $61.00 to $51.00 and set a “neutral” rating for the company in a research report on Monday, October 5th. Citigroup increased their price objective on shares of Sonoco Products from $63.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Bank of America downgraded shares of Sonoco Products from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $69.00 to $60.00 in a research report on Thursday, September 3rd. Weiss Ratings cut shares of Sonoco Products from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, September 11th. Finally, Truist Financial lowered their target price on shares of Sonoco Products from $68.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. Four investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $59.22.
Read Our Latest Report on Sonoco Products
About Sonoco Products
Sonoco Products Company (NYSE:SON) is a global packaging company headquartered in Hartsville, South Carolina. Founded in 1899 as the Southern Novelty Company, Sonoco has developed into a diversified provider of packaging products and services for consumer and industrial markets.
The company produces consumer packaging such as rigid paper and plastic containers, metal cans, flexible packaging, thermoformed packaging, closures, and packaging displays. Its industrial packaging activities include paper tubes and cores, protective packaging, molded foam products, pallets, and other materials used to protect, store, and transport goods.
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