70,830 Shares in Sonoco Products Company $SON Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company bought a new position in Sonoco Products Company (NYSE:SON) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 70,830 shares of the industrial products company’s stock, valued at approximately $3,991,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. D.B. Root & Company LLC acquired a new position in shares of Sonoco Products during the second quarter valued at $748,000. Sanctuary Advisors LLC bought a new stake in Sonoco Products in the 2nd quarter valued at about $1,437,000. Atlas FRM LLC bought a new stake in Sonoco Products in the 2nd quarter valued at about $2,817,500. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Sonoco Products during the 2nd quarter valued at about $4,813,000. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new position in Sonoco Products during the 2nd quarter valued at about $13,405,000. Institutional investors and hedge funds own 77.69% of the company’s stock.

Analyst Ratings Changes

SON has been the topic of several analyst reports. Truist Financial raised their price target on shares of Sonoco Products from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Citigroup boosted their price objective on Sonoco Products from $63.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Weiss Ratings raised Sonoco Products from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 26th. Finally, Bank of America raised their target price on Sonoco Products from $65.00 to $69.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Sonoco Products currently has an average rating of “Moderate Buy” and a consensus price target of $61.78.

Sonoco Products Stock Performance

SON stock opened at $54.14 on Wednesday. The company has a 50-day simple moving average of $56.65 and a 200 day simple moving average of $53.74. The company has a market capitalization of $5.35 billion, a P/E ratio of 8.61, a PEG ratio of 1.17 and a beta of 0.36. The company has a quick ratio of 0.55, a current ratio of 0.99 and a debt-to-equity ratio of 0.97. Sonoco Products Company has a fifty-two week low of $38.65 and a fifty-two week high of $60.67.

Sonoco Products (NYSE:SON) last released its earnings results on Wednesday, July 22nd. The industrial products company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.47 by $0.04. Sonoco Products had a net margin of 8.41% and a return on equity of 16.50%. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter last year, the company earned $1.37 EPS. Sonoco Products’s quarterly revenue was down 1.3% on a year-over-year basis. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. Sell-side analysts predict that Sonoco Products Company will post 5.8 earnings per share 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 paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Monday, August 10th. Sonoco Products’s dividend payout ratio (DPR) is currently 34.34%.

About Sonoco Products

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.