Greenwood Capital Associates LLC bought a new stake in shares of Sonoco Products Company (NYSE:SON - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 24,551 shares of the industrial products company's stock, valued at approximately $1,383,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. SBI Securities Co. Ltd. boosted its position 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 worth $26,000 after purchasing an additional 258 shares in the last quarter. LRI Investments LLC acquired a new position in Sonoco Products during the 4th quarter worth approximately $29,000. WPG Advisers LLC boosted its holdings in Sonoco Products by 93.1% in 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 in the last quarter. Larson Financial Group LLC boosted its holdings in Sonoco Products by 1,826.9% in the third quarter. Larson Financial Group LLC now owns 1,002 shares of the industrial products company's stock worth $43,000 after acquiring an additional 950 shares in the last quarter. Finally, Cullen Frost Bankers Inc. bought a new stake in shares of Sonoco Products during the fourth quarter valued at approximately $47,000. 77.69% of the stock is owned by institutional investors.
Sonoco Products Price Performance
Sonoco Products stock opened at $56.60 on Friday. Sonoco Products Company has a 52 week low of $38.65 and a 52 week high of $60.67. The company's 50 day moving average price is $56.49 and its two-hundred day moving average price is $53.67. The stock has a market cap of $5.60 billion, a P/E ratio of 9.00, a P/E/G ratio of 1.19 and a beta of 0.37. The company has a quick ratio of 0.55, a current ratio of 0.99 and a debt-to-equity ratio of 0.97.
Sonoco Products (NYSE:SON - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $1.51 EPS for the quarter, beating analysts' consensus estimates of $1.47 by $0.04. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. Sonoco Products had a return on equity of 16.50% and a net margin of 8.41%.Sonoco Products's revenue was down 1.3% on a year-over-year basis. During the same period last year, the business posted $1.37 earnings per share. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. On average, equities analysts predict that Sonoco Products Company will post 5.8 earnings per share for the current year.
Sonoco Products Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 10th will be given a $0.54 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $2.16 annualized dividend and a yield of 3.8%. Sonoco Products's payout ratio is currently 34.34%.
Analyst Ratings Changes
A number of equities analysts recently issued reports on the company. Weiss Ratings upgraded Sonoco Products from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday. Citigroup raised their price objective on shares of Sonoco Products from $63.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday, July 9th. Truist Financial lifted their price objective on shares of Sonoco Products from $64.00 to $68.00 and gave the company a "buy" rating in a report on Friday, July 24th. Wall Street Zen cut shares of Sonoco Products from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Finally, Bank of America lifted their price target on Sonoco Products from $65.00 to $69.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $61.78.
Check Out Our Latest Stock Analysis on SON
About Sonoco Products
(
Free Report)
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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