Sound Income Strategies LLC Has $17.20 Million Holdings in Sonoco Products Company $SON

Sound Income Strategies LLC cut its holdings in shares of Sonoco Products Company (NYSE:SON) by 5.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 311,777 shares of the industrial products company’s stock after selling 18,472 shares during the quarter. Sound Income Strategies LLC’s holdings in Sonoco Products were worth $17,201,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. SBI Securities Co. Ltd. grew its position in Sonoco Products by 77.7% during the fourth quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company’s stock worth $26,000 after buying an additional 258 shares in the last quarter. LRI Investments LLC bought a new position in Sonoco Products during the 4th quarter worth $29,000. Ameriflex Group Inc. raised its holdings in Sonoco Products by 1,263.6% in the 3rd quarter. Ameriflex Group Inc. now owns 900 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 834 shares in the last quarter. 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. bought a new stake in shares of Sonoco Products during the 4th quarter valued at $47,000. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Paul Joachimczyk purchased 8,058 shares of Sonoco Products stock in a transaction dated Friday, April 24th. The shares were bought at an average cost of $49.64 per share, for a total transaction of $399,999.12. Following the purchase, the chief financial officer owned 28,558 shares in the company, valued at approximately $1,417,619.12. This trade represents a 39.31% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James A. Harrell III purchased 6,753 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The shares were bought at an average cost of $50.37 per share, for a total transaction of $340,148.61. Following the completion of the acquisition, the insider directly owned 10,070 shares in the company, valued at $507,225.90. The trade was a 203.59% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.98% of the stock is currently owned by insiders.

Sonoco Products Stock Up 2.3%

NYSE SON opened at $57.45 on Friday. The business has a fifty day moving average price of $50.34 and a two-hundred day moving average price of $50.70. The stock has a market capitalization of $5.68 billion, a PE ratio of 5.63, a PEG ratio of 1.18 and a beta of 0.37. Sonoco Products Company has a fifty-two week low of $38.65 and a fifty-two week high of $58.44. 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 issued its quarterly earnings results on Tuesday, April 21st. The industrial products company reported $1.20 earnings per share (EPS) 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 business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the previous year, the business posted $1.38 EPS. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. Equities analysts expect that Sonoco Products Company will post 5.81 earnings per share for the current fiscal year.

Sonoco Products Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th were given a $0.54 dividend. 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 yield of 3.8%. The ex-dividend date was Friday, May 8th. Sonoco Products’s dividend payout ratio (DPR) is presently 21.18%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on SON shares. Raymond James Financial reissued a “market perform” rating on shares of Sonoco Products in a report on Friday, March 6th. Wells Fargo & Company cut their price objective on shares of Sonoco Products from $60.00 to $56.00 and set an “equal weight” rating for the company in a research report on Friday, March 20th. Wall Street Zen cut shares of Sonoco Products from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Bank of America reiterated a “buy” rating on shares of Sonoco Products in a research note on Wednesday, April 22nd. Finally, Citigroup decreased their target price 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. Five investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $60.11.

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.