Wellington Management Group LLP Has $24.14 Million Stake in Sonoco Products Company $SON

Key Points

• Wellington Management increased its Sonoco Products stake by 26% in the second quarter, owning 428,387 shares valued at approximately $24.14 million. Institutional investors collectively own 77.69% of the company.
• Analyst sentiment remains mixed: Citigroup and Truist raised their price targets and maintained buy ratings, while Bank of America downgraded the stock to neutral. Sonoco has an average rating of “Hold” and an average target price of $60.78.
• Sonoco exceeded quarterly earnings expectations with $1.51 in EPS versus $1.47 forecast and $1.89 billion in revenue. The company also declared a quarterly dividend of $0.54 per share, equating to a 4.2% annualized yield.

Wellington Management Group LLP grew its holdings in shares of Sonoco Products Company (NYSE:SON - Free Report) by 26.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 428,387 shares of the industrial products company's stock after acquiring an additional 88,341 shares during the period. Wellington Management Group LLP owned 0.43% of Sonoco Products worth $24,140,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. 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 valued at $26,000 after purchasing an additional 258 shares in the last quarter. LRI Investments LLC acquired a new position in Sonoco Products in the fourth quarter valued at approximately $29,000. WPG Advisers LLC boosted its holdings in shares of Sonoco Products by 93.1% during the 1st quarter. WPG Advisers LLC now owns 612 shares of the industrial products company's stock worth $33,000 after buying an additional 295 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of Sonoco Products by 1,826.9% in the 3rd quarter. Larson Financial Group LLC now owns 1,002 shares of the industrial products company's stock valued at $43,000 after acquiring an additional 950 shares in the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new position in shares of Sonoco Products during the 4th quarter valued at $47,000. 77.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on SON. Citigroup upped their price objective 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. Weiss Ratings upgraded Sonoco Products from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, August 26th. Truist Financial raised their price objective on Sonoco Products from $64.00 to $68.00 and gave the company a "buy" rating in a research note on Friday, July 24th. Finally, Bank of America downgraded Sonoco Products from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $69.00 to $60.00 in a report on Thursday. Five analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Sonoco Products has an average rating of "Hold" and an average target price of $60.78.

Sonoco Products Price Performance

Shares of NYSE:SON opened at $51.95 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.55 and a debt-to-equity ratio of 0.97. The stock has a market cap of $5.14 billion, a PE ratio of 8.26, a price-to-earnings-growth ratio of 1.21 and a beta of 0.36. The stock's fifty day simple moving average is $56.58 and its two-hundred day simple moving average is $53.76. Sonoco Products Company has a 1-year low of $38.65 and a 1-year high of $60.67.

Sonoco Products (NYSE:SON - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The industrial products company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.47 by $0.04. Sonoco Products had a net margin of 8.41% and a return on equity of 16.50%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the company posted $1.37 earnings per share. The firm's revenue for the quarter was down 1.3% on a year-over-year basis. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. As a group, analysts forecast that Sonoco Products Company will post 5.78 EPS for the current fiscal year.

Sonoco Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Monday, August 10th. Sonoco Products's dividend payout ratio (DPR) is presently 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.

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