Greenwood Capital Associates LLC Makes New Investment in Sonoco Products Company $SON

Greenwood Capital Associates LLC bought a new stake in Sonoco Products Company (NYSE:SON) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 24,551 shares of the industrial products company’s stock, valued at approximately $1,383,000.

A number of other institutional investors have also recently made changes to their positions in SON. BlackRock Inc. purchased a new stake in Sonoco Products in the 2nd quarter worth about $657,016,000. Fuller & Thaler Asset Management Inc. lifted its holdings in Sonoco Products by 477.8% during the fourth 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 purchasing an additional 4,880,438 shares during the last quarter. State Street Corp boosted its position in Sonoco Products by 0.3% during the second quarter. State Street Corp now owns 4,470,449 shares of the industrial products company’s stock worth $194,733,000 after purchasing an additional 13,161 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Sonoco Products by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,931,180 shares of the industrial products company’s stock worth $212,632,000 after purchasing an additional 32,810 shares in the last quarter. Finally, Bank of America Corp DE bought a new stake in shares of Sonoco Products in the second quarter valued at approximately $204,968,000. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Sonoco Products Trading Down 0.2%

Shares of SON stock opened at $56.60 on Friday. The company has a market capitalization of $5.60 billion, a PE ratio of 9.00, a price-to-earnings-growth ratio of 1.19 and a beta of 0.37. Sonoco Products Company has a 52-week low of $38.65 and a 52-week high of $60.67. The business’s fifty day moving average is $56.49 and its 200 day moving average is $53.67. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.55 and a current ratio of 0.99.

Sonoco Products (NYSE:SON) last posted its earnings results 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. Sonoco Products had a return on equity of 16.50% and a net margin of 8.41%.The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the previous year, the business earned $1.37 earnings per share. The firm’s revenue was down 1.3% on a year-over-year basis. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. On average, equities research analysts anticipate that Sonoco Products Company will post 5.8 EPS for the current fiscal year.

Sonoco Products Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on SON shares. Weiss Ratings raised shares of Sonoco Products from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday. Truist Financial boosted their price objective on Sonoco Products from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Citigroup increased their price objective on Sonoco Products from $63.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Bank of America raised their target price on Sonoco Products from $65.00 to $69.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Finally, Wall Street Zen cut Sonoco Products from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $61.78.

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.