Bank of America Corp DE Grows Holdings in Sonoco Products Company $SON

Key Points

• Bank of America increased its Sonoco Products stake by 19% in the first quarter, adding 528,292 shares to own 3.31 million shares worth approximately $179.2 million, or 3.35% of the company.
• Sonoco reported quarterly EPS of $1.51, exceeding estimates of $1.47, while revenue reached $1.89 billion. However, revenue declined 1.3% year over year; full-year EPS guidance is $5.80–$6.20.
• Analysts maintain a generally cautious outlook, with an average rating of “Hold” and a $61.78 price target. Sonoco also announced a quarterly dividend of $0.54 per share, representing a 3.7% annualized yield.

Bank of America Corp DE boosted its position in shares of Sonoco Products Company (NYSE:SON - Free Report) by 19.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,312,638 shares of the industrial products company's stock after acquiring an additional 528,292 shares during the period. Bank of America Corp DE owned 3.35% of Sonoco Products worth $179,181,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SON. SBI Securities Co. Ltd. lifted its stake in shares of Sonoco Products by 77.7% during the 4th quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company's stock valued at $26,000 after buying an additional 258 shares in the last quarter. WPG Advisers LLC increased its stake in Sonoco Products by 93.1% in the 1st 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. LRI Investments LLC bought a new stake in Sonoco Products during the fourth quarter valued at about $29,000. Larson Financial Group LLC raised its holdings in Sonoco Products by 1,826.9% during the third quarter. Larson Financial Group LLC now owns 1,002 shares of the industrial products company's stock valued at $43,000 after acquiring an additional 950 shares during the period. Finally, Cullen Frost Bankers Inc. purchased a new position in shares of Sonoco Products in the fourth quarter valued at about $47,000. 77.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on SON. Robert W. Baird lowered their price target on Sonoco Products from $60.00 to $55.00 and set a "neutral" rating on the stock in a report on Thursday, April 23rd. Weiss Ratings cut shares of Sonoco Products from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, July 20th. UBS Group lowered their target price on shares of Sonoco Products from $62.00 to $59.00 and set a "neutral" rating on the stock in a report on Friday, April 10th. Bank of America upped their target price on shares of Sonoco Products from $65.00 to $69.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Finally, Wall Street Zen downgraded shares of Sonoco Products from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Five equities 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, the stock currently has an average rating of "Hold" and an average price target of $61.78.

Sonoco Products Trading Up 3.7%

SON stock opened at $58.53 on Wednesday. The firm has a fifty day moving average price of $53.51 and a 200 day moving average price of $52.59. Sonoco Products Company has a fifty-two week low of $38.65 and a fifty-two week high of $60.67. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.55 and a current ratio of 0.99. The firm has a market cap of $5.79 billion, a PE ratio of 9.31, a price-to-earnings-growth ratio of 1.19 and a beta of 0.37.

Sonoco Products (NYSE:SON - Get Free Report) last released its quarterly earnings results 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 company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the firm earned $1.37 earnings per share. Sonoco Products'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. Sell-side analysts anticipate that Sonoco Products Company will post 5.8 earnings per share for the current fiscal year.

Sonoco Products Dividend Announcement

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

About Sonoco Products

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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