Private Management Group Inc. Sells 17,601 Shares of Sonoco Products Company $SON

Private Management Group Inc. cut its holdings in shares of Sonoco Products Company (NYSE:SON) by 2.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 838,146 shares of the industrial products company’s stock after selling 17,601 shares during the quarter. Sonoco Products accounts for approximately 1.2% of Private Management Group Inc.’s holdings, making the stock its 11th biggest holding. Private Management Group Inc.’s holdings in Sonoco Products were worth $47,230,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Baker Ellis Asset Management LLC raised its position in Sonoco Products by 3.9% in the 1st quarter. Baker Ellis Asset Management LLC now owns 5,307 shares of the industrial products company’s stock worth $287,000 after purchasing an additional 201 shares during the period. Powell Investment Advisors LLC boosted its position in Sonoco Products by 1.0% during the fourth quarter. Powell Investment Advisors LLC now owns 20,718 shares of the industrial products company’s stock valued at $904,000 after buying an additional 203 shares during the period. IFP Advisors Inc grew its stake 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 valued at $131,000 after buying an additional 237 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake 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 valued at $134,000 after buying 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 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 during the period. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Sonoco Products Price Performance

Shares of Sonoco Products stock opened at $56.60 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.99 and a debt-to-equity ratio of 0.97. The company has a market cap of $5.60 billion, a PE ratio of 9.00, a P/E/G ratio of 1.19 and a beta of 0.37. The business has a 50 day moving average of $56.49 and a 200 day moving average of $53.67. Sonoco Products Company has a 52 week low of $38.65 and a 52 week high of $60.67.

Sonoco Products (NYSE:SON) last released its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.04. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Sonoco Products had a net margin of 8.41% and a return on equity of 16.50%. The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.37 earnings per share. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. As a group, equities research 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 declared 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. The ex-dividend date is Monday, August 10th. This represents a $2.16 annualized dividend and a dividend yield of 3.8%. Sonoco Products’s payout ratio is currently 34.34%.

Wall Street Analyst Weigh In

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