Ieq Capital LLC Invests $1.95 Million in Sonoco Products Company $SON

Ieq Capital LLC bought a new stake in Sonoco Products Company (NYSE:SON) in the second quarter, HoldingsChannel reports. The fund bought 34,598 shares of the industrial products company’s stock, valued at approximately $1,950,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Baker Ellis Asset Management LLC increased its position in Sonoco Products by 3.9% during the first quarter. Baker Ellis Asset Management LLC now owns 5,307 shares of the industrial products company’s stock worth $287,000 after buying an additional 201 shares during the period. Powell Investment Advisors LLC boosted its holdings in shares of Sonoco Products by 1.0% in the fourth quarter. Powell Investment Advisors LLC now owns 20,718 shares of the industrial products company’s stock valued at $904,000 after acquiring an additional 203 shares during the period. IFP Advisors Inc grew its position in shares of Sonoco Products by 8.6% during the fourth quarter. IFP Advisors Inc now owns 2,996 shares of the industrial products company’s stock worth $131,000 after acquiring an additional 237 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Sonoco Products by 11.2% during the first quarter. EverSource Wealth Advisors LLC now owns 2,476 shares of the industrial products company’s stock worth $134,000 after acquiring an additional 249 shares during the last quarter. Finally, SBI Securities Co. Ltd. increased its holdings in shares of Sonoco Products by 77.7% in the 4th quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 258 shares during the period. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Sonoco Products Stock Performance

NYSE:SON opened at $57.84 on Wednesday. The firm’s fifty day moving average price is $56.11 and its 200 day moving average price is $53.57. Sonoco Products Company has a 1-year low of $38.65 and a 1-year high of $60.67. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.99 and a quick ratio of 0.55. The firm has a market cap of $5.72 billion, a price-to-earnings ratio of 9.20, a price-to-earnings-growth ratio of 1.21 and a beta of 0.37.

Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.04. Sonoco Products had a net margin of 8.41% and a return on equity of 16.50%. The company 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. Sonoco Products’s quarterly 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. On average, sell-side analysts expect that Sonoco Products Company will post 5.8 EPS for the current year.

Sonoco Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Monday, August 10th. Sonoco Products’s dividend payout ratio is currently 34.34%.

Wall Street Analyst Weigh In

SON has been the subject of a number of recent research reports. Citigroup increased their price target 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 upped their target price on shares of Sonoco Products from $65.00 to $69.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Truist Financial increased their target price on shares of Sonoco Products from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Wall Street Zen lowered Sonoco Products from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Weiss Ratings upgraded Sonoco Products from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, August 3rd. Five research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Sonoco Products currently has a consensus rating of “Hold” and an average target price of $61.78.

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.