Steph & Co. Raises Stock Holdings in Sonoco Products Company $SON

Steph & Co. lifted its holdings in shares of Sonoco Products Company (NYSE:SON) by 25.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,443 shares of the industrial products company’s stock after purchasing an additional 2,289 shares during the quarter. Steph & Co.’s holdings in Sonoco Products were worth $498,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Beverly Hills Private Wealth LLC grew its holdings in shares of Sonoco Products by 4.1% during the first quarter. Beverly Hills Private Wealth LLC now owns 5,669 shares of the industrial products company’s stock worth $268,000 after purchasing an additional 224 shares in the last quarter. CW Advisors LLC grew its holdings in shares of Sonoco Products by 1.5% during the first quarter. CW Advisors LLC now owns 14,791 shares of the industrial products company’s stock worth $699,000 after purchasing an additional 224 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of Sonoco Products by 2.5% during the first quarter. Federated Hermes Inc. now owns 9,304 shares of the industrial products company’s stock worth $440,000 after purchasing an additional 230 shares in the last quarter. IVC Wealth Advisors LLC grew its holdings in shares of Sonoco Products by 4.6% during the first quarter. IVC Wealth Advisors LLC now owns 6,542 shares of the industrial products company’s stock worth $309,000 after purchasing an additional 288 shares in the last quarter. Finally, State of Michigan Retirement System grew its holdings in shares of Sonoco Products by 1.3% during the first quarter. State of Michigan Retirement System now owns 23,551 shares of the industrial products company’s stock worth $1,113,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Sonoco Products Stock Performance

Shares of SON stock opened at $44.06 on Friday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.72 and a current ratio of 1.25. Sonoco Products Company has a fifty-two week low of $39.46 and a fifty-two week high of $55.33. The stock has a 50 day moving average price of $46.36 and a two-hundred day moving average price of $45.60. The company has a market capitalization of $4.35 billion, a P/E ratio of 7.90, a PEG ratio of 0.61 and a beta of 0.70.

Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $1.37 earnings per share 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 company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the previous year, the firm posted $1.28 EPS. The business’s revenue for the quarter 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. Analysts expect that Sonoco Products Company will post 6.1 earnings per share for the current year.

Sonoco Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were given a $0.53 dividend. The ex-dividend date was Friday, August 8th. This represents a $2.12 annualized dividend and a yield of 4.8%. Sonoco Products’s payout ratio is presently 37.99%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SON shares. Raymond James Financial upped their target price on Sonoco Products from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. UBS Group upped their target price on Sonoco Products from $48.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Finally, Truist Financial upped their target price on Sonoco Products from $53.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Sonoco Products presently has an average rating of “Moderate Buy” and a consensus price target of $57.63.

Sonoco Products Company Profile

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.