Jupiter Topco LLC Purchases New Shares in Sonoco Products Company $SON

Key Points

• Jupiter Topco LLC acquired 43,287 Sonoco Products shares in the second quarter, valued at approximately $2.44 million. Hedge funds and institutional investors collectively own 77.69% of the company.
• Analyst sentiment remains positive, with six Buy and six Hold ratings producing a “Moderate Buy” consensus and an average price target of $61.78. Several firms recently raised their price targets to between $66 and $69.
• Sonoco reported quarterly earnings of $1.51 per share, beating estimates, while revenue reached $1.89 billion. The company also declared a quarterly dividend of $0.54 per share, representing a 3.9% annualized yield.

Jupiter Topco LLC purchased a new position in shares of Sonoco Products Company (NYSE:SON - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 43,287 shares of the industrial products company's stock, valued at approximately $2,440,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. SBI Securities Co. Ltd. raised its holdings 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 buying an additional 258 shares during the last quarter. WPG Advisers LLC boosted its stake in shares of 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 buying an additional 295 shares during the period. LRI Investments LLC acquired a new stake in shares of Sonoco Products during the fourth quarter worth about $29,000. Larson Financial Group LLC grew its holdings in shares of 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 worth $43,000 after buying an additional 950 shares during the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new position in shares of Sonoco Products during the fourth quarter worth about $47,000. 77.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on SON shares. Weiss Ratings raised Sonoco Products from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, August 26th. Citigroup lifted their target price on Sonoco Products from $63.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday, July 9th. Bank of America boosted their target price on Sonoco Products from $65.00 to $69.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Finally, Truist Financial upped their price target on Sonoco Products from $64.00 to $68.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, Sonoco Products currently has an average rating of "Moderate Buy" and an average target price of $61.78.

Sonoco Products Stock Up 1.1%

Sonoco Products stock opened at $54.69 on Thursday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.99 and a quick ratio of 0.55. Sonoco Products Company has a 1-year low of $38.65 and a 1-year high of $60.67. The company has a market cap of $5.41 billion, a PE ratio of 8.69, a price-to-earnings-growth ratio of 1.25 and a beta of 0.36. The stock's 50 day moving average price is $56.67 and its 200 day moving average price is $53.76.

Sonoco Products (NYSE:SON - Get Free Report) last released its 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. Sonoco Products had a return on equity of 16.50% and a net margin of 8.41%.The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter last year, the company earned $1.37 earnings per share. Sonoco Products'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. On average, sell-side analysts predict that Sonoco Products Company will post 5.8 EPS for the current fiscal year.

Sonoco Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 10th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $2.16 dividend on an annualized basis and a yield of 3.9%. Sonoco Products's dividend payout ratio (DPR) is 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.

Want to see what other hedge funds are holding SON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sonoco Products Company (NYSE:SON - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source