Hsbc Holdings PLC Has $255,000 Holdings in Sonoco Products Company $SON

Hsbc Holdings PLC reduced its holdings in Sonoco Products Company (NYSE:SON) by 68.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,407 shares of the industrial products company’s stock after selling 11,882 shares during the quarter. Hsbc Holdings PLC’s holdings in Sonoco Products were worth $255,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of SON. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Sonoco Products by 508.1% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 900 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 752 shares in the last quarter. UMB Bank n.a. lifted its holdings in Sonoco Products by 152.7% during the 1st quarter. UMB Bank n.a. now owns 950 shares of the industrial products company’s stock worth $45,000 after buying an additional 574 shares in the last quarter. Colonial Trust Co SC lifted its holdings in Sonoco Products by 90.6% during the 4th quarter. Colonial Trust Co SC now owns 953 shares of the industrial products company’s stock worth $47,000 after buying an additional 453 shares in the last quarter. Allworth Financial LP lifted its holdings in Sonoco Products by 152.0% during the 1st quarter. Allworth Financial LP now owns 1,071 shares of the industrial products company’s stock worth $50,000 after buying an additional 646 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in Sonoco Products by 474.8% during the 1st quarter. Versant Capital Management Inc now owns 2,299 shares of the industrial products company’s stock worth $109,000 after buying an additional 1,899 shares in the last quarter. 77.69% of the stock is owned by institutional investors and hedge funds.

Sonoco Products Price Performance

Shares of SON opened at $45.53 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.72 and a debt-to-equity ratio of 1.53. Sonoco Products Company has a 1 year low of $39.46 and a 1 year high of $56.66. The stock has a market cap of $4.49 billion, a P/E ratio of 8.16, a price-to-earnings-growth ratio of 0.62 and a beta of 0.70. The stock’s 50-day moving average price is $46.23 and its two-hundred day moving average price is $45.66.

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

Sonoco Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 8th will be given a $0.53 dividend. The ex-dividend date is Friday, August 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.7%. Sonoco Products’s dividend payout ratio is currently 37.99%.

Analysts Set New Price Targets

Several research analysts have issued reports on SON shares. Wells Fargo & Company raised Sonoco Products from an “underweight” rating to an “overweight” rating and upped their price objective for the stock from $45.00 to $55.00 in a report on Friday, May 23rd. Raymond James Financial upped their price objective on Sonoco Products from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Tuesday, July 15th. UBS Group upped their price objective on Sonoco Products from $48.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Finally, Truist Financial upped their price objective on Sonoco Products from $53.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Sonoco Products has an average rating of “Moderate Buy” and a consensus target price of $57.63.

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.