Equitable Trust Co. Has $806,000 Position in Sonoco Products Company $SON

Equitable Trust Co. grew its position in Sonoco Products Company (NYSE:SON) by 5.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,499 shares of the industrial products company’s stock after purchasing an additional 983 shares during the period. Equitable Trust Co.’s holdings in Sonoco Products were worth $806,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Beverly Hills Private Wealth LLC lifted its position in Sonoco Products by 4.1% during the 1st quarter. Beverly Hills Private Wealth LLC now owns 5,669 shares of the industrial products company’s stock valued at $268,000 after purchasing an additional 224 shares during the period. CW Advisors LLC increased its stake in shares of Sonoco Products by 1.5% in the 1st quarter. CW Advisors LLC now owns 14,791 shares of the industrial products company’s stock valued at $699,000 after acquiring an additional 224 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Sonoco Products by 2.5% in the 1st quarter. Federated Hermes Inc. now owns 9,304 shares of the industrial products company’s stock valued at $440,000 after acquiring an additional 230 shares during the last quarter. Richardson Financial Services Inc. increased its stake in shares of Sonoco Products by 13.2% in the 2nd quarter. Richardson Financial Services Inc. now owns 2,185 shares of the industrial products company’s stock valued at $100,000 after acquiring an additional 255 shares during the last quarter. Finally, State of Michigan Retirement System increased its stake in shares of 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 valued at $1,113,000 after acquiring an additional 300 shares during the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.

Sonoco Products Price Performance

NYSE SON opened at $39.98 on Thursday. Sonoco Products Company has a 52-week low of $39.13 and a 52-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 business has a 50 day simple moving average of $45.07 and a 200 day simple moving average of $45.13. The stock has a market cap of $3.94 billion, a price-to-earnings ratio of 7.16, a PEG ratio of 0.65 and a beta of 0.68.

Sonoco Products (NYSE:SON) last released its quarterly earnings results on Wednesday, June 22nd. The industrial products company reported $1.00 earnings per share for the quarter. Sonoco Products had a return on equity of 20.46% and a net margin of 8.35%.The firm had revenue of $1.35 billion during the quarter. Sonoco Products has set its Q2 2022 guidance at $1.60-$1.70 EPS. Analysts anticipate that Sonoco Products Company will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $2.12 dividend on an annualized basis and a yield of 5.3%. Sonoco Products’s dividend payout ratio is 37.99%.

Analysts Set New Price Targets

SON has been the subject of a number of recent analyst reports. Bank of America reaffirmed a “neutral” rating and issued a $56.00 price target on shares of Sonoco Products in a research note on Thursday, October 9th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Sonoco Products in a research note on Wednesday, October 8th. UBS Group lowered their price target on Sonoco Products from $50.00 to $46.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. Truist Financial lowered their target price on Sonoco Products from $58.00 to $57.00 and set a “buy” rating for the company in a research note on Monday. Finally, Wells Fargo & Company lowered their target price on Sonoco Products from $55.00 to $50.00 and set an “overweight” rating for the company in a research note on Wednesday. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.50.

Sonoco Products Profile

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.