Sonoco Products Company $SON Stock: State of Alaska Department of Revenue Grows Stake

Key Points

• State of Alaska Department of Revenue increased its Sonoco Products stake by 334.8% in the third quarter, bringing its holdings to 61,368 shares worth approximately $3.0 million. Institutional investors collectively own 77.69% of the company.
• Analyst sentiment is mixed: four analysts rate Sonoco a Buy and eight rate it a Hold, producing a consensus Hold rating and an average price target of $59.22.
• Sonoco’s latest quarterly results exceeded expectations, with earnings of $1.51 per share versus the $1.47 consensus and revenue of $1.89 billion. However, revenue declined 1.3% year over year, while full-year 2026 EPS guidance is $5.80–$6.20.

State of Alaska Department of Revenue boosted its holdings in Sonoco Products Company (NYSE:SON - Free Report) by 334.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 61,368 shares of the industrial products company's stock after buying an additional 47,255 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of Sonoco Products worth $2,995,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. First Citizens Bank & Trust Co. grew its stake in shares of Sonoco Products by 32.0% in the third quarter. First Citizens Bank & Trust Co. now owns 26,675 shares of the industrial products company's stock worth $1,302,000 after acquiring an additional 6,465 shares during the period. Salem Investment Counselors Inc. raised its holdings in shares of Sonoco Products by 2.8% during the third quarter. Salem Investment Counselors Inc. now owns 110,307 shares of the industrial products company's stock valued at $5,385,000 after purchasing an additional 2,995 shares during the last quarter. Steel Grove Capital Advisors LLC lifted its position in Sonoco Products by 14.5% during the third quarter. Steel Grove Capital Advisors LLC now owns 38,469 shares of the industrial products company's stock valued at $1,878,000 after purchasing an additional 4,862 shares during the period. NorthCrest Asset Manangement LLC bought a new position in Sonoco Products during the third quarter valued at approximately $481,000. Finally, Sound Income Strategies LLC lifted its position in Sonoco Products by 2.3% during the third quarter. Sound Income Strategies LLC now owns 316,637 shares of the industrial products company's stock valued at $15,325,000 after purchasing an additional 7,095 shares during the period. Institutional investors own 77.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SON. Bank of America downgraded shares of Sonoco Products from a "buy" rating to a "neutral" rating and cut their target price for the stock from $69.00 to $60.00 in a research report on Thursday, September 3rd. Truist Financial lowered their price target on Sonoco Products from $68.00 to $62.00 and set a "buy" rating on the stock in a report on Monday, October 12th. Weiss Ratings cut Sonoco Products from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, September 11th. Citigroup raised their price target on Sonoco Products from $63.00 to $66.00 and gave the stock a "buy" rating in a research note on Thursday, July 9th. Finally, UBS Group cut their price objective on Sonoco Products from $61.00 to $51.00 and set a "neutral" rating for the company in a report on Monday, October 5th. Four research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $59.22.

Sonoco Products Price Performance

NYSE SON opened at $49.77 on Friday. Sonoco Products Company has a 52 week low of $38.65 and a 52 week high of $60.67. The firm has a market capitalization of $4.92 billion, a P/E ratio of 7.91, a PEG ratio of 1.27 and a beta of 0.35. The company has a quick ratio of 0.55, a current ratio of 0.99 and a debt-to-equity ratio of 0.97. The company has a 50-day moving average price of $52.12 and a 200-day moving average price of $52.67.

Sonoco Products (NYSE:SON - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.04. The firm had revenue of $1.89 billion for the quarter, compared to analysts' expectations of $1.88 billion. Sonoco Products had a net margin of 8.41% and a return on equity of 16.50%. The business's quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.37 EPS. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. Equities research analysts anticipate that Sonoco Products Company will post 5.68 earnings per share for the current year.

About Sonoco Products

Sonoco Products Company NYSE: SON is a global packaging company headquartered in Hartsville, South Carolina. Founded in 1899 as the Southern Novelty Company, Sonoco has developed into a diversified provider of packaging products and services for consumer and industrial markets.

The company produces consumer packaging such as rigid paper and plastic containers, metal cans, flexible packaging, thermoformed packaging, closures, and packaging displays. Its industrial packaging activities include paper tubes and cores, protective packaging, molded foam products, pallets, and other materials used to protect, store, and transport goods.

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