Bank of America Corp DE Purchases Shares of 3,637,407 Sonoco Products Company $SON

Key Points

• Bank of America purchased 3.64 million Sonoco Products shares worth approximately $205 million, gaining a 3.68% stake. Institutional investors collectively own 77.69% of the company.
• Analyst sentiment remains mixed: Sonoco has an average “Hold” rating and a consensus price target of $60.78, with recent actions including upgraded targets from Truist and Citigroup but downgrades from Bank of America and Weiss Ratings.
• Sonoco exceeded quarterly earnings expectations with $1.51 EPS and $1.89 billion in revenue, while maintaining FY 2026 EPS guidance of $5.80–$6.20. The company also offers a quarterly dividend of $0.54 per share, yielding about 4.5% annually.

Bank of America Corp DE purchased a new position in shares of Sonoco Products Company (NYSE:SON - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,637,407 shares of the industrial products company's stock, valued at approximately $204,968,000. Bank of America Corp DE owned about 3.68% of Sonoco Products as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Baker Ellis Asset Management LLC grew its position in shares of Sonoco Products by 3.9% in the 1st quarter. Baker Ellis Asset Management LLC now owns 5,307 shares of the industrial products company's stock valued at $287,000 after acquiring an additional 201 shares during the period. Powell Investment Advisors LLC grew its holdings in Sonoco Products by 1.0% during the fourth quarter. Powell Investment Advisors LLC now owns 20,718 shares of the industrial products company's stock worth $904,000 after purchasing an additional 203 shares during the period. IFP Advisors Inc increased its position in Sonoco Products by 8.6% during the fourth quarter. IFP Advisors Inc now owns 2,996 shares of the industrial products company's stock worth $131,000 after buying an additional 237 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Sonoco Products by 11.2% during the first quarter. EverSource Wealth Advisors LLC now owns 2,476 shares of the industrial products company's stock worth $134,000 after buying an additional 249 shares during the last quarter. Finally, WPG Advisers LLC raised its stake in Sonoco Products by 93.1% in the first quarter. WPG Advisers LLC now owns 612 shares of the industrial products company's stock valued at $33,000 after buying an additional 295 shares during the period. Institutional investors own 77.69% of the company's stock.

Wall Street Analysts Forecast Growth

SON has been the subject of a number of recent analyst reports. Weiss Ratings cut Sonoco Products from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, September 11th. Truist Financial increased their price target 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 raised their price target on Sonoco Products from $63.00 to $66.00 and gave the company a "buy" rating in a report on Thursday, July 9th. Finally, Bank of America cut shares of Sonoco Products from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $69.00 to $60.00 in a research report on Thursday, September 3rd. Four investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, Sonoco Products has an average rating of "Hold" and an average price target of $60.78.

Sonoco Products Stock Up 0.4%

Shares of NYSE SON opened at $48.48 on Thursday. 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 Company has a 52 week low of $38.65 and a 52 week high of $60.67. The stock has a market capitalization of $4.79 billion, a P/E ratio of 7.71, a PEG ratio of 1.21 and a beta of 0.36. The stock's fifty day moving average is $55.39 and its 200 day moving average is $53.35.

Sonoco Products (NYSE:SON - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.04. The business had revenue of $1.89 billion during the quarter, compared to analysts' expectations of $1.88 billion. Sonoco Products had a net margin of 8.41% and a return on equity of 16.50%. Sonoco Products's revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.37 earnings per share. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. Sell-side analysts forecast that Sonoco Products Company will post 5.78 earnings per share for the current fiscal year.

Sonoco Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Monday, August 10th were issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Monday, August 10th. Sonoco Products's dividend payout ratio is 34.34%.

Sonoco Products Company Profile

Sonoco Products Company is a diversified packaging company headquartered in Hartsville, South Carolina. Founded in 1899 as the Southern Novelty Company, it adopted the Sonoco name in 1923. The company serves customers in the food, beverage, household, consumer, industrial and other markets.

Sonoco manufactures a broad range of packaging and related products, including paperboard cans and tubes, rigid plastic containers, flexible packaging, metal containers, closures, and protective packaging.

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