Meiji Yasuda Asset Management Co Ltd. acquired a new stake in Sonoco Products Company (NYSE:SON - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 237,880 shares of the industrial products company's stock, valued at approximately $13,405,000. Meiji Yasuda Asset Management Co Ltd. owned about 0.24% of Sonoco Products as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently made changes to their positions in SON. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Sonoco Products by 44.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,093 shares of the industrial products company's stock worth $2,319,000 after purchasing an additional 15,079 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Sonoco Products by 80.8% in the first quarter. Goldman Sachs Group Inc. now owns 206,493 shares of the industrial products company's stock valued at $9,755,000 after buying an additional 92,286 shares during the period. Empowered Funds LLC lifted its stake in Sonoco Products by 14.1% in the first quarter. Empowered Funds LLC now owns 11,058 shares of the industrial products company's stock valued at $522,000 after buying an additional 1,364 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Sonoco Products by 87.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 545,179 shares of the industrial products company's stock worth $25,754,000 after buying an additional 255,055 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Sonoco Products by 315.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,587 shares of the industrial products company's stock worth $69,000 after buying an additional 1,205 shares during the period. Institutional investors own 77.69% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on SON. Wall Street Zen downgraded shares of Sonoco Products from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Bank of America boosted their price objective on shares of Sonoco Products from $65.00 to $69.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Weiss Ratings raised shares of Sonoco Products from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, August 3rd. Truist Financial lifted their price target on shares of Sonoco Products from $64.00 to $68.00 and gave the stock a "buy" rating in a research report on Friday, July 24th. Finally, Citigroup boosted their price target on shares of Sonoco Products from $63.00 to $66.00 and gave the company a "buy" rating in a report on Thursday, July 9th. Five equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Sonoco Products currently has an average rating of "Hold" and an average price target of $61.78.
Check Out Our Latest Stock Report on SON
Sonoco Products Trading Up 0.1%
NYSE:SON opened at $59.51 on Monday. Sonoco Products Company has a fifty-two week low of $38.65 and a fifty-two week high of $60.67. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.99 and a quick ratio of 0.55. The stock has a market capitalization of $5.88 billion, a PE ratio of 9.46, a price-to-earnings-growth ratio of 1.26 and a beta of 0.37. The business's 50-day simple moving average is $55.83 and its 200-day simple moving average is $53.46.
Sonoco Products (NYSE:SON - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $1.51 earnings per share for the quarter, beating analysts' consensus estimates of $1.47 by $0.04. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.88 billion. Sonoco Products had a net margin of 8.41% and a return on equity of 16.50%. The business's revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.37 earnings per share. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. Sell-side analysts expect that Sonoco Products Company will post 5.8 earnings per share for the current fiscal year.
Sonoco Products Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, August 10th. Sonoco Products's payout ratio is currently 34.34%.
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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