Sonoco Products Company $SON Shares Acquired by Invenomic Capital Management LP

Invenomic Capital Management LP grew its holdings in Sonoco Products Company (NYSE:SON) by 3.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 871,442 shares of the industrial products company’s stock after buying an additional 27,991 shares during the quarter. Sonoco Products makes up 1.8% of Invenomic Capital Management LP’s holdings, making the stock its 13th biggest holding. Invenomic Capital Management LP’s holdings in Sonoco Products were worth $38,030,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Evolve Private Wealth LLC acquired a new stake in shares of Sonoco Products in the fourth quarter valued at about $291,000. EVR Research LP raised its position in shares of Sonoco Products by 340.0% in the fourth quarter. EVR Research LP now owns 220,000 shares of the industrial products company’s stock valued at $9,601,000 after buying an additional 170,000 shares during the last quarter. CastleKnight Management LP acquired a new stake in shares of Sonoco Products in the fourth quarter valued at about $1,846,000. Concentric Capital Strategies LP acquired a new stake in shares of Sonoco Products in the fourth quarter valued at about $12,630,000. Finally, Freestone Grove Partners LP raised its position in shares of Sonoco Products by 234.0% in the fourth quarter. Freestone Grove Partners LP now owns 30,468 shares of the industrial products company’s stock valued at $1,330,000 after buying an additional 21,347 shares during the last quarter. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Sonoco Products Price Performance

Shares of SON opened at $50.65 on Thursday. Sonoco Products Company has a 1-year low of $38.65 and a 1-year high of $58.44. The stock has a market cap of $5.01 billion, a PE ratio of 4.97, a P/E/G ratio of 1.07 and a beta of 0.39. The firm has a 50-day simple moving average of $50.79 and a two-hundred day simple moving average of $49.76. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.96 and a quick ratio of 0.54.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Tuesday, April 21st. The industrial products company reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.37). Sonoco Products had a net margin of 13.57% and a return on equity of 16.50%. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the prior year, the business earned $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, analysts forecast that Sonoco Products Company will post 5.81 EPS for the current year.

Sonoco Products Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th were given a dividend of $0.54 per share. This is a boost from Sonoco Products’s previous quarterly dividend of $0.53. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Friday, May 8th. Sonoco Products’s dividend payout ratio (DPR) is 21.18%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. UBS Group reduced their target price on shares of Sonoco Products from $62.00 to $59.00 and set a “neutral” rating for the company in a research report on Friday, April 10th. Argus upgraded shares of Sonoco Products to a “hold” rating in a research report on Monday, April 20th. Weiss Ratings cut shares of Sonoco Products from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 15th. Truist Financial restated a “buy” rating and set a $65.00 price objective (down from $68.00) on shares of Sonoco Products in a research report on Tuesday, April 28th. Finally, Raymond James Financial restated a “market perform” rating on shares of Sonoco Products in a research report on Friday, March 6th. Five research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $60.11.

Insider Transactions at Sonoco Products

In related news, insider James A. Harrell III purchased 6,753 shares of the company’s stock in a transaction on Monday, April 27th. The stock was acquired at an average cost 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 acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Paul Joachimczyk purchased 8,058 shares of the company’s stock in a transaction on Friday, April 24th. The shares were bought at an average price of $49.64 per share, with a total value of $399,999.12. Following the completion of the transaction, the chief financial officer owned 28,558 shares of the company’s stock, valued at approximately $1,417,619.12. The trade was a 39.31% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.98% of the stock is owned by company insiders.

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.