Allspring Global Investments Holdings LLC Makes New $2.41 Million Investment in Sonoco Products Company $SON

Allspring Global Investments Holdings LLC acquired a new position in shares of Sonoco Products Company (NYSE:SON - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 43,762 shares of the industrial products company's stock, valued at approximately $2,414,000.

A number of other large investors also recently made changes to their positions in SON. SBI Securities Co. Ltd. boosted its position in shares of Sonoco Products by 77.7% in the fourth quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 258 shares during the period. WPG Advisers LLC increased its position in Sonoco Products by 93.1% during the first quarter. WPG Advisers LLC now owns 612 shares of the industrial products company's stock worth $33,000 after acquiring an additional 295 shares during the period. LRI Investments LLC bought a new position in Sonoco Products during the fourth quarter worth about $29,000. Larson Financial Group LLC raised its stake in Sonoco Products by 1,826.9% in the 3rd quarter. Larson Financial Group LLC now owns 1,002 shares of the industrial products company's stock worth $43,000 after purchasing an additional 950 shares in the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new stake in Sonoco Products in the 4th quarter worth about $47,000. Institutional investors own 77.69% of the company's stock.

Insider Activity at Sonoco Products

In other Sonoco Products news, insider James A. Harrell III purchased 6,753 shares of the stock in a transaction dated Monday, April 27th. The stock was bought at an average price of $50.37 per share, with a total value of $340,148.61. Following the acquisition, the insider owned 10,070 shares of the company's stock, valued at approximately $507,225.90. This represents a 203.59% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.98% of the company's stock.

Sonoco Products Stock Performance

NYSE SON opened at $58.27 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.54 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $5.76 billion, a price-to-earnings ratio of 9.26, a P/E/G ratio of 1.26 and a beta of 0.37. The firm's 50 day simple moving average is $52.16 and its 200 day simple moving average is $52.01. Sonoco Products Company has a 1 year low of $38.65 and a 1 year high of $58.62.

Sonoco Products (NYSE:SON - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.47 by $0.04. Sonoco Products had a net margin of 8.41% and a return on equity of 16.50%. The business had revenue of $1.89 billion for the quarter, compared to analysts' expectations of $1.88 billion. During the same period last year, the firm posted $1.37 earnings per share. The firm's quarterly revenue was down 1.3% compared to the same quarter last year. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. As a group, research analysts expect that Sonoco Products Company will post 5.79 earnings per share for the current fiscal year.

Sonoco Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 10th will be paid a $0.54 dividend. The ex-dividend date is Monday, August 10th. This represents a $2.16 annualized dividend and a dividend yield of 3.7%. Sonoco Products's dividend payout ratio (DPR) is presently 34.34%.

Wall Street Analysts Forecast Growth

SON has been the topic of several recent research reports. Wall Street Zen cut shares of Sonoco Products from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on Sonoco Products in a research note on Wednesday, April 1st. They issued a "buy" rating and a $63.00 price target for the company. Bank of America increased their price target on 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 lowered Sonoco Products from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, July 20th. Finally, Robert W. Baird dropped their price objective on Sonoco Products from $60.00 to $55.00 and set a "neutral" rating for the company in a report on Thursday, April 23rd. Five research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Sonoco Products presently has a consensus rating of "Hold" and a consensus price target 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.

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