Elevated Capital Advisors LLC Sells 13,359 Shares of Sonoco Products Company $SON

Elevated Capital Advisors LLC decreased its holdings in Sonoco Products Company (NYSE:SON) by 94.1% in the first quarter, Holdings Channel reports. The fund owned 844 shares of the industrial products company’s stock after selling 13,359 shares during the quarter. Elevated Capital Advisors LLC’s holdings in Sonoco Products were worth $46,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SON. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Sonoco Products by 477.8% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,901,950 shares of the industrial products company’s stock worth $257,561,000 after purchasing an additional 4,880,438 shares during the period. State Street Corp raised its holdings in Sonoco Products by 0.3% during the 2nd quarter. State Street Corp now owns 4,470,449 shares of the industrial products company’s stock valued at $194,733,000 after buying an additional 13,161 shares during the period. Dimensional Fund Advisors LP lifted its position in Sonoco Products by 4.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,898,370 shares of the industrial products company’s stock worth $170,126,000 after buying an additional 176,949 shares during the last quarter. Bank of America Corp DE boosted its stake in Sonoco Products by 6.1% during the second quarter. Bank of America Corp DE now owns 2,804,621 shares of the industrial products company’s stock worth $122,169,000 after buying an additional 162,262 shares during the period. Finally, Earnest Partners LLC boosted its stake in Sonoco Products by 1.2% during the third quarter. Earnest Partners LLC now owns 2,678,122 shares of the industrial products company’s stock worth $115,400,000 after buying an additional 31,932 shares during the period. 77.69% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider James A. Harrell III acquired 6,753 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The stock was purchased 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 of the company’s stock, valued at $507,225.90. The trade was a 203.59% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Paul Joachimczyk acquired 8,058 shares of the stock in a transaction that occurred on Friday, April 24th. The stock was acquired at an average cost of $49.64 per share, with a total value of $399,999.12. Following the completion of the purchase, the chief financial officer owned 28,558 shares of the company’s stock, valued at $1,417,619.12. This trade represents a 39.31% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.98% of the company’s stock.

Analyst Upgrades and Downgrades

SON has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Sonoco Products in a research note on Wednesday, April 1st. They issued a “buy” rating and a $63.00 target price on the stock. Weiss Ratings raised shares of Sonoco Products from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, June 29th. Wells Fargo & Company decreased 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 note on Friday, March 20th. Bank of America reaffirmed a “buy” rating on shares of Sonoco Products in a research note on Wednesday, April 22nd. Finally, Argus raised Sonoco Products to a “hold” rating in a research note on Monday, April 20th. Five analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $60.44.

Sonoco Products Trading Up 1.6%

SON traded up $0.89 on Friday, reaching $55.95. 761,115 shares of the company traded hands, compared to its average volume of 1,144,735. The company has a market cap of $5.53 billion, a P/E ratio of 5.49, a price-to-earnings-growth ratio of 1.17 and a beta of 0.37. The company has a quick ratio of 0.54, a current ratio of 0.96 and a debt-to-equity ratio of 0.97. Sonoco Products Company has a one year low of $38.65 and a one year high of $58.44. The firm has a fifty day simple moving average of $51.18 and a two-hundred day simple moving average of $51.19.

Sonoco Products (NYSE:SON) last issued its earnings results on Tuesday, April 21st. The industrial products company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.37). The company had revenue of $1.68 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 13.57%.Sonoco Products’s revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.38 earnings per share. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. As a group, equities research analysts expect that Sonoco Products Company will post 5.81 earnings per share for the current year.

Sonoco Products Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 3.9%. The ex-dividend date was Friday, May 8th. This is an increase from Sonoco Products’s previous quarterly dividend of $0.53. Sonoco Products’s dividend payout ratio (DPR) is 21.18%.

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.