Kempner Capital Management Inc. Takes Position in Sonoco Products Company $SON

Key Points

• Kempner Capital Management Inc. has acquired a new stake in Sonoco Products Company, purchasing 44,056 shares worth approximately $1.9 million.
• Analysts have set new price targets for Sonoco, with Truist Financial raising its target to $58, while the average target price across analysts is $57.63.
• Sonoco Products recently reported Q2 earnings of $1.37 EPS, missing estimates, and announced a quarterly dividend of $0.53 per share, yielding 4.6%.

Kempner Capital Management Inc. acquired 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 & Exchange Commission. The firm acquired 44,056 shares of the industrial products company's stock, valued at approximately $1,919,000.

Other hedge funds also recently made changes to their positions in the company. Sequoia Financial Advisors LLC purchased a new stake in shares of Sonoco Products during the first quarter valued at approximately $820,000. Principal Financial Group Inc. increased its stake in shares of Sonoco Products by 0.5% in the first quarter. Principal Financial Group Inc. now owns 226,179 shares of the industrial products company's stock worth $10,685,000 after buying an additional 1,044 shares during the last quarter. OneDigital Investment Advisors LLC bought a new stake in shares of Sonoco Products in the first quarter worth $232,000. World Investment Advisors bought a new stake in shares of Sonoco Products in the first quarter worth $1,347,000. Finally, Janney Montgomery Scott LLC increased its stake in shares of Sonoco Products by 29.8% in the first quarter. Janney Montgomery Scott LLC now owns 23,004 shares of the industrial products company's stock worth $1,087,000 after buying an additional 5,278 shares during the last quarter. Hedge funds and other institutional investors own 77.69% of the company's stock.

Analysts Set New Price Targets

SON has been the subject of a number of research analyst reports. Truist Financial lifted their price target on shares of Sonoco Products from $53.00 to $58.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Raymond James Financial lifted their price target on shares of Sonoco Products from $50.00 to $55.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Finally, UBS Group lifted their price objective on shares of Sonoco Products from $48.00 to $50.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $57.63.

Sonoco Products Stock Performance

Sonoco Products stock opened at $45.66 on Wednesday. The company has a market cap of $4.50 billion, a PE ratio of 8.18, a P/E/G ratio of 0.62 and a beta of 0.70. The company has a fifty day moving average price of $46.42 and a two-hundred day moving average price of $45.62. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.25 and a quick ratio of 0.72. Sonoco Products Company has a 12 month low of $39.46 and a 12 month high of $55.33.

Sonoco Products (NYSE:SON - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.07). Sonoco Products had a net margin of 8.35% and a return on equity of 20.46%. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period last year, the firm posted $1.28 EPS. The business's revenue was up 17.7% compared to the same quarter last year. Sonoco Products has set its FY 2025 guidance at 6.000-6.2 EPS. Research analysts expect that Sonoco Products Company will post 6.1 earnings per share for the current year.

Sonoco Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $2.12 annualized dividend and a dividend yield of 4.6%. Sonoco Products's payout ratio is 37.99%.

About Sonoco Products

Sonoco Products Company, together with its subsidiaries, designs, develops, manufactures, and sells various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates Consumer Packaging and Industrial Paper Packaging segments. The Consumer Packaging segment offers round and shaped rigid paper, steel, and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays and enclosures; and high-barrier flexible packaging products.

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