Bank of New York Mellon Corp Makes New $60.79 Million Investment in Sonoco Products Company $SON

Bank of New York Mellon Corp bought a new stake in Sonoco Products Company (NYSE:SON) in the 2nd quarter, HoldingsChannel reports. The firm bought 1,078,855 shares of the industrial products company’s stock, valued at approximately $60,793,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. SBI Securities Co. Ltd. raised its holdings in shares of Sonoco Products by 77.7% during the 4th quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 258 shares during the period. LRI Investments LLC acquired a new position in shares of Sonoco Products during the 4th quarter valued at about $29,000. WPG Advisers LLC grew its holdings in shares of Sonoco Products by 93.1% in the first quarter. WPG Advisers LLC now owns 612 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 295 shares during the period. Larson Financial Group LLC grew its holdings in shares of Sonoco Products by 1,826.9% in the third quarter. Larson Financial Group LLC now owns 1,002 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 950 shares during the period. Finally, Cullen Frost Bankers Inc. acquired a new stake in Sonoco Products during the fourth quarter worth about $47,000. 77.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Weiss Ratings raised shares of Sonoco Products from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 3rd. Bank of America increased their price target on shares of Sonoco Products from $65.00 to $69.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Wall Street Zen downgraded shares of Sonoco Products from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Citigroup lifted their price target on shares of Sonoco Products from $63.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Finally, Truist Financial upped their price objective on Sonoco Products from $64.00 to $68.00 and gave the company a “buy” rating in a report on Friday, July 24th. Five investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Sonoco Products presently has an average rating of “Hold” and a consensus price target of $61.78.

Sonoco Products Stock Down 0.7%

Shares of SON opened at $57.48 on Thursday. The firm has a market cap of $5.68 billion, a P/E ratio of 9.14, a price-to-earnings-growth ratio of 1.22 and a beta of 0.37. Sonoco Products Company has a 12-month low of $38.65 and a 12-month high of $60.67. The company’s 50-day moving average price is $56.25 and its 200 day moving average price is $53.62. The company has a current ratio of 0.99, a quick ratio of 0.55 and a debt-to-equity ratio of 0.97.

Sonoco Products (NYSE:SON) last announced its earnings results on Wednesday, July 22nd. The industrial products company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.04. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.88 billion. Sonoco Products had a net margin of 8.41% and a return on equity of 16.50%. Sonoco Products’s revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.37 earnings per share. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. On average, sell-side analysts forecast that Sonoco Products Company will post 5.8 earnings per share for the current year.

Sonoco Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 10th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, August 10th. Sonoco Products’s dividend payout ratio is currently 34.34%.

Sonoco Products 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.