Sonoco Products (NYSE:SON) Insider James Harrell III Purchases 6,753 Shares

Sonoco Products Company (NYSE:SON) insider James Harrell III purchased 6,753 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was bought at an average price of $50.37 per share, for a total transaction of $340,148.61. Following the completion of the transaction, the insider directly owned 10,070 shares in the company, valued at approximately $507,225.90. The trade was a 203.59% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Sonoco Products Price Performance

Shares of Sonoco Products stock opened at $49.15 on Thursday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.54 and a current ratio of 0.96. The firm’s 50-day simple moving average is $53.92 and its 200-day simple moving average is $47.63. Sonoco Products Company has a twelve month low of $38.65 and a twelve month high of $58.44. The firm has a market cap of $4.86 billion, a P/E ratio of 4.82, a price-to-earnings-growth ratio of 1.05 and a beta of 0.50.

Sonoco Products (NYSE:SON) last issued its earnings results on Tuesday, April 21st. The industrial products company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.37). Sonoco Products had a net margin of 13.57% and a return on equity of 16.50%. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the firm posted $1.38 earnings per share. Sonoco Products’s revenue was down 1.9% on a year-over-year basis. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. As a group, research analysts expect that Sonoco Products Company will post 5.83 EPS for the current fiscal year.

Sonoco Products Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th will be given a dividend of $0.54 per share. This is an increase from Sonoco Products’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, May 8th. This represents a $2.16 annualized dividend and a dividend yield of 4.4%. Sonoco Products’s dividend payout ratio (DPR) is presently 21.18%.

Hedge Funds Weigh In On Sonoco Products

Several institutional investors have recently bought and sold shares of SON. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Sonoco Products by 44.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,093 shares of the industrial products company’s stock valued at $2,319,000 after purchasing an additional 15,079 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Sonoco Products by 80.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 206,493 shares of the industrial products company’s stock valued at $9,755,000 after purchasing an additional 92,286 shares during the last quarter. Empowered Funds LLC raised its position in Sonoco Products by 14.1% in the 1st quarter. Empowered Funds LLC now owns 11,058 shares of the industrial products company’s stock valued at $522,000 after purchasing an additional 1,364 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Sonoco Products by 87.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 545,179 shares of the industrial products company’s stock valued at $25,754,000 after purchasing an additional 255,055 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Sonoco Products by 315.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,587 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 1,205 shares during the last quarter. Institutional investors own 77.69% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Truist Financial reiterated a “buy” rating and set a $65.00 target price (down from $68.00) on shares of Sonoco Products in a research report on Tuesday. UBS Group decreased their target price on shares of Sonoco Products from $62.00 to $59.00 and set a “neutral” rating on the stock in a research report on Friday, April 10th. Wells Fargo & Company reduced their price target on shares of Sonoco Products from $60.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Friday, March 20th. Robert W. Baird reduced their price target on shares of Sonoco Products from $60.00 to $55.00 and set a “neutral” rating on the stock in a research report on Thursday, April 23rd. Finally, Bank of America restated a “buy” rating on shares of Sonoco Products in a research report on Wednesday, April 22nd. Five investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Sonoco Products presently has a consensus rating of “Hold” and an average price target of $60.11.

Sonoco Products Company Profile

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.