Comerica Bank Boosts Holdings in Sonoco Products Company $SON

Key Points

• Comerica Bank raised its stake by 178.6% in Sonoco to 127,075 shares (about $5.55M), amid heavy institutional ownership (~77.7%) of the company.
• Sonoco missed Q1 expectations, reporting $1.20 EPS vs. $1.57 expected and $1.68B revenue vs. $1.88B expected, and set FY2026 guidance of $5.80–$6.20 EPS.
• The company increased its quarterly dividend to $0.54 (annualized $2.16, ~4.3% yield), while insiders showed mixed activity including a notable purchase by James A. Harrell III.

Comerica Bank raised its holdings in shares of Sonoco Products Company (NYSE:SON - Free Report) by 178.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,075 shares of the industrial products company's stock after acquiring an additional 81,467 shares during the quarter. Comerica Bank owned approximately 0.13% of Sonoco Products worth $5,546,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in SON. CIBC Private Wealth Group LLC boosted its stake in shares of Sonoco Products by 5.3% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 6,006 shares of the industrial products company's stock worth $259,000 after purchasing an additional 304 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its stake in shares of Sonoco Products by 2.8% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 12,742 shares of the industrial products company's stock worth $549,000 after purchasing an additional 345 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Sonoco Products by 5.3% during the 3rd quarter. SG Americas Securities LLC now owns 7,043 shares of the industrial products company's stock worth $303,000 after purchasing an additional 354 shares during the last quarter. Gentry Private Wealth LLC boosted its stake in shares of Sonoco Products by 3.7% during the 3rd quarter. Gentry Private Wealth LLC now owns 10,181 shares of the industrial products company's stock worth $439,000 after purchasing an additional 362 shares during the last quarter. Finally, AlphaCore Capital LLC boosted its stake in shares of Sonoco Products by 5.1% during the 3rd quarter. AlphaCore Capital LLC now owns 7,655 shares of the industrial products company's stock worth $330,000 after purchasing an additional 370 shares during the last quarter. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Sonoco Products Trading Up 0.3%

SON opened at $50.10 on Friday. The firm has a market capitalization of $4.95 billion, a P/E ratio of 4.91, a P/E/G ratio of 1.05 and a beta of 0.40. The firm's 50 day moving average is $53.80 and its 200-day moving average is $47.65. Sonoco Products Company has a 52-week low of $38.65 and a 52-week high of $58.44. The company has a quick ratio of 0.54, a current ratio of 0.96 and a debt-to-equity ratio of 0.97.

Sonoco Products (NYSE:SON - Get Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $1.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.57 by ($0.37). The firm had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.88 billion. Sonoco Products had a net margin of 13.57% and a return on equity of 16.50%. The company's revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.38 EPS. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. Analysts expect that Sonoco Products Company will post 5.81 EPS for the current fiscal year.

Sonoco Products Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th will be paid a dividend of $0.54 per share. This is an increase from Sonoco Products's previous quarterly dividend of $0.53. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Friday, May 8th. Sonoco Products's payout ratio is 20.78%.

Wall Street Analyst Weigh In

Several research firms have issued reports on SON. Citigroup decreased their price target on shares of Sonoco Products from $70.00 to $63.00 and set a "buy" rating on the stock in a research note on Thursday, April 23rd. UBS Group decreased their price target on shares of Sonoco Products from $62.00 to $59.00 and set a "neutral" rating on the stock in a research note on Friday, April 10th. Truist Financial reissued a "buy" rating and issued a $65.00 target price (down from $68.00) on shares of Sonoco Products in a research report on Tuesday. Wells Fargo & Company decreased their target price on shares of Sonoco Products from $60.00 to $56.00 and set an "equal weight" rating on the stock in a research report on Friday, March 20th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Sonoco Products in a research report on Wednesday, April 1st. They issued a "buy" rating and a $63.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, Sonoco Products currently has an average rating of "Hold" and a consensus target price of $60.11.

Insider Activity

In other news, insider James A. Harrell III acquired 6,753 shares of the company's stock in a transaction dated Monday, April 27th. The shares were bought at an average price of $50.37 per share, for a total transaction of $340,148.61. Following the completion of the purchase, the insider directly owned 10,070 shares of the company's stock, valued at approximately $507,225.90. This trade represents a 203.59% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Ernest D. Haynes III sold 1,581 shares of Sonoco Products stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $56.39, for a total transaction of $89,152.59. Following the sale, the insider owned 9,377 shares in the company, valued at $528,769.03. This represents a 14.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.98% of the company's stock.

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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