1,251,407 Shares in Sonoco Products Company $SON Purchased by Norges Bank

Norges Bank acquired a new position in shares of Sonoco Products Company (NYSE:SON) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,251,407 shares of the industrial products company’s stock, valued at approximately $54,611,000. Norges Bank owned about 1.27% of Sonoco Products at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. raised its position in Sonoco Products by 77.7% in the 4th quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 258 shares during the period. LRI Investments LLC bought a new position in shares of Sonoco Products during the fourth quarter valued at approximately $29,000. Ameriflex Group Inc. raised its holdings in shares of Sonoco Products by 1,263.6% in the third quarter. Ameriflex Group Inc. now owns 900 shares of the industrial products company’s stock worth $39,000 after buying an additional 834 shares during the period. Larson Financial Group LLC lifted its stake in shares of Sonoco Products by 1,826.9% during the 3rd quarter. Larson Financial Group LLC now owns 1,002 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 950 shares during the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new position in Sonoco Products during the 4th quarter valued at $47,000. 77.69% of the stock is owned by hedge funds and other institutional investors.

Sonoco Products Trading Down 0.1%

NYSE SON opened at $47.45 on Monday. Sonoco Products Company has a 52 week low of $38.65 and a 52 week high of $58.44. The company has a 50 day moving average price of $51.46 and a 200 day moving average price of $49.25. The company has a quick ratio of 0.54, a current ratio of 0.96 and a debt-to-equity ratio of 0.97. The firm has a market cap of $4.69 billion, a PE ratio of 4.65, a price-to-earnings-growth ratio of 1.00 and a beta of 0.39.

Sonoco Products (NYSE:SON) last announced 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 firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last 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, sell-side analysts forecast that Sonoco Products Company will post 5.81 EPS for the current fiscal year.

Sonoco Products Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 8th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, May 8th. This is an increase from Sonoco Products’s previous quarterly dividend of $0.53. Sonoco Products’s payout ratio is 21.18%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SON shares. Truist Financial reiterated a “buy” rating and issued a $65.00 target price (down from $68.00) on shares of Sonoco Products in a research note on Tuesday, April 28th. Citigroup cut their price target on shares of Sonoco Products from $70.00 to $63.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Wall Street Zen lowered shares of Sonoco Products from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Wells Fargo & Company dropped their target price on shares of Sonoco Products from $60.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Friday, March 20th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Sonoco Products in a research report on Friday, March 6th. Five investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Sonoco Products presently has an average rating of “Hold” and an average target price of $60.11.

Insider Activity at Sonoco Products

In related news, CFO Paul Joachimczyk purchased 8,058 shares of the firm’s stock in a transaction on Friday, April 24th. The stock was acquired at an average price of $49.64 per share, with a total value of $399,999.12. Following the completion of the acquisition, the chief financial officer owned 28,558 shares in the company, valued at approximately $1,417,619.12. This represents a 39.31% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider James A. Harrell III acquired 6,753 shares of the stock in a transaction dated Monday, April 27th. The shares were bought at an average price of $50.37 per share, with a total value of $340,148.61. Following the completion of the purchase, the insider directly owned 10,070 shares of the company’s stock, valued at approximately $507,225.90. This trade represents a 203.59% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.98% of the company’s stock.

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.