A&I Financial Services LLC Makes New Investment 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 bought a new stake in Sonoco Products Company (NYSE:SON - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,572 shares of the industrial products company's stock, valued at approximately $504,000.

Several other hedge funds have also recently made changes to their positions in SON. Whittier Trust Co. of Nevada Inc. raised its holdings in Sonoco Products by 508.1% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 900 shares of the industrial products company's stock valued at $43,000 after acquiring an additional 752 shares during the period. UMB Bank n.a. raised its stake in shares of Sonoco Products by 152.7% during the 1st quarter. UMB Bank n.a. now owns 950 shares of the industrial products company's stock valued at $45,000 after purchasing an additional 574 shares during the period. Allworth Financial LP raised its stake in shares of Sonoco Products by 152.0% during the 1st quarter. Allworth Financial LP now owns 1,071 shares of the industrial products company's stock valued at $50,000 after purchasing an additional 646 shares during the period. Quarry LP raised its stake in shares of Sonoco Products by 56.5% during the 1st quarter. Quarry LP now owns 1,518 shares of the industrial products company's stock valued at $72,000 after purchasing an additional 548 shares during the period. Finally, Versant Capital Management Inc raised its stake in shares of Sonoco Products by 474.8% during the 1st quarter. Versant Capital Management Inc now owns 2,299 shares of the industrial products company's stock valued at $109,000 after purchasing an additional 1,899 shares during the period. 77.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SON has been the topic of several analyst reports. UBS Group upped their price target on Sonoco Products from $48.00 to $50.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Raymond James Financial increased their price target on shares of Sonoco Products from $50.00 to $55.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Finally, Truist Financial increased their price objective on Sonoco Products from $53.00 to $58.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.63.

Sonoco Products Trading Down 1.5%

NYSE:SON traded down $0.70 during trading hours on Friday, hitting $46.32. The company had a trading volume of 1,544,193 shares, compared to its average volume of 961,785. The company has a market capitalization of $4.57 billion, a PE ratio of 8.30, a price-to-earnings-growth ratio of 0.62 and a beta of 0.70. The stock has a 50-day moving average price of $46.41 and a 200 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 debt-to-equity ratio of 1.53, a current ratio of 1.25 and a quick ratio of 0.72.

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

Sonoco Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Friday, August 8th. Sonoco Products's dividend 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.