Freestone Grove Partners LP Acquires Shares of 68,642 Sonoco Products Company $SON

Freestone Grove Partners LP bought a new position in shares of Sonoco Products Company (NYSE:SON) during the second quarter, HoldingsChannel.com reports. The firm bought 68,642 shares of the industrial products company’s stock, valued at approximately $3,868,000.

Several other hedge funds also recently made changes to their positions in SON. SBI Securities Co. Ltd. raised its position in shares of Sonoco Products by 77.7% in the fourth quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company’s stock valued at $26,000 after buying an additional 258 shares in the last quarter. WPG Advisers LLC grew its position in Sonoco Products by 93.1% during the first quarter. WPG Advisers LLC now owns 612 shares of the industrial products company’s stock worth $33,000 after buying an additional 295 shares in the last quarter. LRI Investments LLC bought a new position in Sonoco Products during the 4th quarter worth $29,000. Larson Financial Group LLC raised its holdings in Sonoco Products by 1,826.9% in the 3rd quarter. Larson Financial Group LLC now owns 1,002 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 950 shares in the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new position in Sonoco Products in the 4th quarter valued at $47,000. 77.69% of the stock is owned by institutional investors.

Sonoco Products Trading Down 0.2%

Shares of SON opened at $56.60 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.55 and a current ratio of 0.99. Sonoco Products Company has a 52-week low of $38.65 and a 52-week high of $60.67. The firm has a market cap of $5.60 billion, a price-to-earnings ratio of 9.00, a PEG ratio of 1.20 and a beta of 0.37. The business’s fifty day moving average is $56.49 and its 200-day moving average is $53.67.

Sonoco Products (NYSE:SON) last announced its quarterly earnings data 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 business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. Sonoco Products had a return on equity of 16.50% and a net margin of 8.41%.Sonoco Products’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.37 EPS. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. Equities analysts anticipate that Sonoco Products Company will post 5.8 EPS for the current fiscal year.

Sonoco Products Announces Dividend

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

Analysts Set New Price Targets

Several analysts have recently issued reports on SON shares. Truist Financial increased their target price on Sonoco Products from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Citigroup upped their price objective on shares of Sonoco Products from $63.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Bank of America increased their price objective on shares of Sonoco Products from $65.00 to $69.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Weiss Ratings raised shares of Sonoco Products from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday. Finally, Wall Street Zen cut shares of Sonoco Products from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Sonoco Products currently has a consensus rating of “Moderate Buy” and an average price target of $61.78.

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.