Royal Bank of Canada Lowers Stock Holdings in Sonoco Products Company $SON

Royal Bank of Canada lessened its holdings in Sonoco Products Company (NYSE:SON) by 17.7% in the first quarter, HoldingsChannel reports. The institutional investor owned 809,742 shares of the industrial products company’s stock after selling 173,955 shares during the quarter. Royal Bank of Canada’s holdings in Sonoco Products were worth $43,800,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. SBI Securities Co. Ltd. grew its position in shares of Sonoco Products by 77.7% during the fourth 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 stake in shares of Sonoco Products during the fourth quarter valued at approximately $29,000. WPG Advisers LLC lifted its holdings in shares of Sonoco Products by 93.1% in the first quarter. WPG Advisers LLC now owns 612 shares of the industrial products company’s stock worth $33,000 after buying an additional 295 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of Sonoco Products by 1,826.9% in the third quarter. Larson Financial Group LLC now owns 1,002 shares of the industrial products company’s stock worth $43,000 after buying an additional 950 shares in the last quarter. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Sonoco Products during the fourth quarter worth $47,000. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Argus upgraded shares of Sonoco Products to a “hold” rating in a report on Monday, April 20th. Citigroup increased their price objective on shares of Sonoco Products from $63.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Wall Street Zen cut Sonoco Products from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. 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 report on Thursday, April 23rd. Finally, Truist Financial increased their price target on Sonoco Products from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Five analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $61.78.

Sonoco Products Trading Up 0.2%

SON opened at $56.45 on Monday. The firm has a market cap of $5.58 billion, a P/E ratio of 8.97, a P/E/G ratio of 1.19 and a beta of 0.37. Sonoco Products Company has a 12 month low of $38.65 and a 12 month high of $60.67. The company has a current ratio of 0.99, a quick ratio of 0.55 and a debt-to-equity ratio of 0.97. The stock has a 50-day moving average of $53.20 and a 200 day moving average of $52.46.

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

Sonoco Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 10th will be issued a $0.54 dividend. The ex-dividend date is Monday, August 10th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.8%. Sonoco Products’s dividend payout ratio is presently 34.34%.

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.