A&I Financial Services LLC Takes Position in Sonoco Products Company $SON

Key Points

• A&I Financial Services LLC purchased 11,572 shares of Sonoco Products Company, valued at approximately $504,000, marking a new stake in the company.
• Analysts have raised their price targets for Sonoco Products, with UBS now at $50.00, Truist at $58.00, and Raymond James at $55.00, indicating a consensus rating of "Moderate Buy."
• Sonoco Products recently declared a quarterly dividend of $0.53, resulting in a 4.6% annual yield, reflecting a payout ratio of 37.99%.

A&I Financial Services LLC acquired a new position in shares of Sonoco Products Company (NYSE:SON - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 11,572 shares of the industrial products company's stock, valued at approximately $504,000.

A number of other institutional investors have also made changes to their positions in the stock. Wedge Capital Management L L P NC grew its stake in shares of Sonoco Products by 17.2% during the second quarter. Wedge Capital Management L L P NC now owns 152,974 shares of the industrial products company's stock worth $6,664,000 after purchasing an additional 22,483 shares during the period. Harbour Capital Advisors LLC acquired a new stake in shares of Sonoco Products during the second quarter worth $212,000. My Legacy Advisors LLC grew its stake in shares of Sonoco Products by 8.1% during the second quarter. My Legacy Advisors LLC now owns 7,174 shares of the industrial products company's stock worth $337,000 after purchasing an additional 536 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Sonoco Products by 9.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 59,396 shares of the industrial products company's stock worth $2,763,000 after purchasing an additional 5,218 shares during the period. Finally, Gateway Investment Advisers LLC grew its stake in shares of Sonoco Products by 10.7% during the second quarter. Gateway Investment Advisers LLC now owns 8,312 shares of the industrial products company's stock worth $362,000 after purchasing an additional 803 shares during the period. 77.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Truist Financial lifted their target price on Sonoco Products from $53.00 to $58.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Raymond James Financial lifted their target price on Sonoco Products from $50.00 to $55.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Finally, UBS Group lifted their target price on Sonoco Products from $48.00 to $50.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.63.

Sonoco Products Stock Down 0.6%

Shares of Sonoco Products stock traded down $0.30 during trading on Monday, reaching $46.01. The stock had a trading volume of 985,475 shares, compared to its average volume of 873,408. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of 8.25, a P/E/G ratio of 0.62 and a beta of 0.70. The stock has a fifty day moving average price of $46.41 and a two-hundred day moving average price of $45.63. Sonoco Products Company has a 52 week low of $39.46 and a 52 week high of $55.33. The company has a current ratio of 1.25, a quick ratio of 0.72 and a debt-to-equity ratio of 1.53.

Sonoco Products (NYSE:SON - Get Free Report) last released its earnings results on Wednesday, July 23rd. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.07). Sonoco Products had a return on equity of 20.46% and a net margin of 8.35%.The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the previous year, the company posted $1.28 EPS. The business's revenue was up 17.7% on a year-over-year basis. Sonoco Products has set its FY 2025 guidance at 6.000-6.2 EPS. Sell-side analysts predict that Sonoco Products Company will post 6.1 EPS for the current fiscal year.

Sonoco Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were issued a $0.53 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $2.12 dividend on an annualized basis and a yield of 4.6%. Sonoco Products's payout ratio is currently 37.99%.

Sonoco Products Profile

Sonoco Products Company, together with its subsidiaries, designs, develops, manufactures, and sells various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates Consumer Packaging and Industrial Paper Packaging segments. The Consumer Packaging segment offers round and shaped rigid paper, steel, and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays and enclosures; and high-barrier flexible packaging products.