Lazard Asset Management LLC Purchases 33,109 Shares of Sonoco Products Company $SON

Lazard Asset Management LLC raised its position in shares of Sonoco Products Company (NYSE:SON) by 82.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,033 shares of the industrial products company’s stock after purchasing an additional 33,109 shares during the period. Lazard Asset Management LLC owned approximately 0.07% of Sonoco Products worth $3,950,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. increased its holdings 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 in the last quarter. LRI Investments LLC bought a new position in Sonoco Products in the fourth quarter valued at about $29,000. WPG Advisers LLC boosted its stake in shares of Sonoco Products by 93.1% during the first quarter. WPG Advisers LLC now owns 612 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 295 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Sonoco Products by 1,826.9% during the third quarter. Larson Financial Group LLC now owns 1,002 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 950 shares during the last quarter. Finally, Cullen Frost Bankers Inc. bought a new stake in shares of Sonoco Products during the fourth quarter worth about $47,000. 77.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SON has been the subject of a number of research reports. Robert W. Baird dropped their price objective on shares of Sonoco Products from $60.00 to $55.00 and set a “neutral” rating for the company in a report on Thursday, April 23rd. Bank of America boosted their target price on shares of Sonoco Products from $65.00 to $69.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Weiss Ratings downgraded shares of Sonoco Products from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, July 20th. Argus upgraded shares of Sonoco Products to a “hold” rating in a report on Monday, April 20th. Finally, Citigroup boosted their price objective 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. Five investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $61.78.

Sonoco Products Price Performance

Sonoco Products stock opened at $56.45 on Friday. The stock’s 50 day moving average is $53.20 and its 200 day moving average is $52.42. Sonoco Products Company has a one year low of $38.65 and a one year high of $60.67. The firm has a market cap of $5.58 billion, a P/E ratio of 8.97, a P/E/G ratio of 1.20 and a beta of 0.37. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.99 and a quick ratio of 0.55.

Sonoco Products (NYSE:SON) last released its earnings results on Wednesday, July 22nd. The industrial products company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.04. Sonoco Products had a net margin of 8.41% and a return on equity of 16.50%. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the firm posted $1.37 EPS. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. As a group, research analysts expect that Sonoco Products Company will post 5.8 EPS for the current year.

Sonoco Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders 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 dividend payout ratio is 34.34%.

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.