Sonoco Products Company $SON Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC cut its holdings in shares of Sonoco Products Company (NYSE:SON) by 54.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 328,972 shares of the industrial products company’s stock after selling 399,166 shares during the quarter. SG Americas Securities LLC’s holdings in Sonoco Products were worth $17,794,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Sonoco Products by 44.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,093 shares of the industrial products company’s stock valued at $2,319,000 after buying an additional 15,079 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Sonoco Products by 80.8% during the first quarter. Goldman Sachs Group Inc. now owns 206,493 shares of the industrial products company’s stock valued at $9,755,000 after acquiring an additional 92,286 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Sonoco Products by 14.1% in the 1st quarter. Empowered Funds LLC now owns 11,058 shares of the industrial products company’s stock valued at $522,000 after acquiring an additional 1,364 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Sonoco Products by 87.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 545,179 shares of the industrial products company’s stock valued at $25,754,000 after acquiring an additional 255,055 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Sonoco Products by 315.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,587 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 1,205 shares during the last quarter. 77.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SON shares. Robert W. Baird decreased their target price on Sonoco Products from $60.00 to $55.00 and set a “neutral” rating on the stock in a research note on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Sonoco Products in a report on Wednesday, April 1st. They issued a “buy” rating and a $63.00 price objective on the stock. Wall Street Zen cut Sonoco Products from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Raymond James Financial reissued a “market perform” rating on shares of Sonoco Products in a research report on Friday, March 6th. Finally, Truist Financial reaffirmed a “buy” rating and set a $65.00 price target (down from $68.00) on shares of Sonoco Products in a research report on Tuesday, April 28th. Five investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $60.11.

Sonoco Products Stock Up 1.4%

Sonoco Products stock opened at $54.27 on Friday. Sonoco Products Company has a twelve month low of $38.65 and a twelve month high of $58.44. The stock has a 50 day moving average of $50.35 and a two-hundred day moving average of $50.19. The company has a current ratio of 0.96, a quick ratio of 0.54 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $5.37 billion, a price-to-earnings ratio of 5.32, a PEG ratio of 1.12 and a beta of 0.39.

Sonoco Products (NYSE:SON) last released its earnings results on Tuesday, April 21st. The industrial products company reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.37). Sonoco Products had a net margin of 13.57% and a return on equity of 16.50%. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the previous year, the firm 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. As a group, 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 declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were 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%. This is a positive change from Sonoco Products’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, May 8th. Sonoco Products’s dividend payout ratio (DPR) is presently 21.18%.

Insider Activity at Sonoco Products

In other Sonoco Products news, insider James A. Harrell III bought 6,753 shares of the business’s stock in a transaction dated Monday, April 27th. The stock was acquired at an average cost of $50.37 per share, with a total value of $340,148.61. Following the purchase, the insider owned 10,070 shares in the company, valued at approximately $507,225.90. This represents a 203.59% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Paul Joachimczyk acquired 8,058 shares of the business’s stock in a transaction on Friday, April 24th. The stock was acquired at an average price of $49.64 per share, with a total value of $399,999.12. Following the transaction, the chief financial officer directly owned 28,558 shares of the company’s stock, valued at $1,417,619.12. This represents a 39.31% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.98% of the company’s stock.

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.