A&I Financial Services LLC Buys Shares of 11,572 Sonoco Products Company $SON

A&I Financial Services LLC bought a new stake in shares of Sonoco Products Company (NYSE:SON) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 11,572 shares of the industrial products company’s stock, valued at approximately $504,000.

A number of other institutional investors and hedge funds have also made changes to their positions in SON. Beverly Hills Private Wealth LLC raised its holdings in Sonoco Products by 4.1% in the 1st quarter. Beverly Hills Private Wealth LLC now owns 5,669 shares of the industrial products company’s stock worth $268,000 after acquiring an additional 224 shares during the last quarter. CW Advisors LLC raised its holdings in Sonoco Products by 1.5% in the 1st quarter. CW Advisors LLC now owns 14,791 shares of the industrial products company’s stock worth $699,000 after acquiring an additional 224 shares during the last quarter. Federated Hermes Inc. raised its holdings in Sonoco Products by 2.5% in the 1st quarter. Federated Hermes Inc. now owns 9,304 shares of the industrial products company’s stock worth $440,000 after acquiring an additional 230 shares during the last quarter. IVC Wealth Advisors LLC raised its holdings in Sonoco Products by 4.6% in the 1st quarter. IVC Wealth Advisors LLC now owns 6,542 shares of the industrial products company’s stock worth $309,000 after acquiring an additional 288 shares during the last quarter. Finally, State of Michigan Retirement System raised its holdings in Sonoco Products by 1.3% in the 1st quarter. State of Michigan Retirement System now owns 23,551 shares of the industrial products company’s stock worth $1,113,000 after acquiring an additional 300 shares during the last quarter. Institutional investors own 77.69% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on SON. UBS Group lifted their target price on shares of Sonoco Products from $48.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Truist Financial lifted their target price on shares of Sonoco Products from $53.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Finally, Raymond James Financial lifted their target price on shares of Sonoco Products from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Sonoco Products presently has a consensus rating of “Moderate Buy” and an average price target of $57.63.

Sonoco Products Stock Down 1.5%

SON opened at $46.32 on Friday. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 8.30, a price-to-earnings-growth ratio of 0.62 and a beta of 0.70. Sonoco Products Company has a fifty-two week low of $39.46 and a fifty-two week high of $55.33. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.72 and a current ratio of 1.25. The firm’s fifty day moving average is $46.41 and its 200 day moving average is $45.64.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $1.37 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.07). The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Sonoco Products had a return on equity of 20.46% and a net margin of 8.35%.The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.28 EPS. Sonoco Products has set its FY 2025 guidance at 6.000-6.2 EPS. On average, sell-side analysts forecast that Sonoco Products Company will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were paid a $0.53 dividend. The ex-dividend date was Friday, August 8th. This represents a $2.12 annualized dividend and a yield of 4.6%. Sonoco Products’s payout ratio is presently 37.99%.

About Sonoco Products

Sonoco Products Company, together with its subsidiaries, designs, develops, manufactures, and sells various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates Consumer Packaging and Industrial Paper Packaging segments. The Consumer Packaging segment offers round and shaped rigid paper, steel, and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays and enclosures; and high-barrier flexible packaging products.