Bank of New York Mellon Corp Raises Stock Holdings in Sonoco Products Company $SON

Bank of New York Mellon Corp raised its holdings in shares of Sonoco Products Company (NYSE:SON) by 1.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,116,918 shares of the industrial products company’s stock after purchasing an additional 12,185 shares during the quarter. Bank of New York Mellon Corp owned 1.13% of Sonoco Products worth $60,414,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of SON. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Sonoco Products by 477.8% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,901,950 shares of the industrial products company’s stock valued at $257,561,000 after buying an additional 4,880,438 shares during the last quarter. State Street Corp increased its stake in shares of Sonoco Products by 0.3% in the second quarter. State Street Corp now owns 4,470,449 shares of the industrial products company’s stock worth $194,733,000 after buying an additional 13,161 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings 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 valued at $170,126,000 after acquiring an additional 176,949 shares in the last quarter. Bank of America Corp DE raised its holdings in Sonoco Products by 6.1% in the second quarter. Bank of America Corp DE now owns 2,804,621 shares of the industrial products company’s stock valued at $122,169,000 after acquiring an additional 162,262 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in Sonoco Products by 357.8% during the 3rd quarter. AQR Capital Management LLC now owns 2,117,022 shares of the industrial products company’s stock valued at $90,693,000 after acquiring an additional 1,654,576 shares during the last quarter. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SON has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Sonoco Products from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Bank of America increased their price target on shares of Sonoco Products from $65.00 to $69.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Weiss Ratings downgraded Sonoco Products from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft started coverage on Sonoco Products in a research note on Wednesday, April 1st. They set a “buy” rating and a $63.00 price objective on the stock. Finally, UBS Group reduced their target price on Sonoco Products from $62.00 to $59.00 and set a “neutral” rating on the stock in a report on Friday, April 10th. Five analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Sonoco Products presently has a consensus rating of “Hold” and a consensus price target of $61.33.

Sonoco Products Stock Up 0.9%

SON stock opened at $55.18 on Thursday. Sonoco Products Company has a fifty-two week low of $38.65 and a fifty-two week high of $58.44. The stock has a market cap of $5.46 billion, a PE ratio of 5.41, a price-to-earnings-growth ratio of 1.19 and a beta of 0.37. The firm’s 50-day simple moving average is $51.79 and its 200 day simple moving average is $51.88. 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 (NYSE:SON) last posted 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. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Sonoco Products had a return on equity of 16.50% and a net margin of 13.57%.The firm’s revenue was down 1.3% compared to the same quarter last year. During the same period last year, the firm earned $1.37 EPS. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. As a group, sell-side analysts predict that Sonoco Products Company will post 5.79 EPS for the current year.

Sonoco Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $2.16 annualized dividend and a yield of 3.9%. Sonoco Products’s payout ratio is presently 21.18%.

Insider Buying and Selling 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 that occurred on 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 completion of the purchase, the insider directly owned 10,070 shares in the company, valued at approximately $507,225.90. This trade represents a 203.59% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CFO Paul Joachimczyk bought 8,058 shares of Sonoco Products stock in a transaction that occurred on Friday, April 24th. The shares were acquired at an average price of $49.64 per share, with a total value of $399,999.12. Following the completion of the acquisition, 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 SEC filing for this purchase provides additional information. Corporate insiders own 0.98% of the company’s stock.

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.