Sonoco Products Company $SON Position Cut by Parallel Advisors LLC

Parallel Advisors LLC trimmed its stake in Sonoco Products Company (NYSE:SON) by 47.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 692 shares of the industrial products company’s stock after selling 618 shares during the quarter. Parallel Advisors LLC’s holdings in Sonoco Products were worth $30,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SON. Millennium Management LLC lifted its stake in Sonoco Products by 739.7% in the first quarter. Millennium Management LLC now owns 1,152,506 shares of the industrial products company’s stock valued at $54,444,000 after buying an additional 1,015,250 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Sonoco Products by 14.4% in the first quarter. Dimensional Fund Advisors LP now owns 3,591,263 shares of the industrial products company’s stock valued at $169,646,000 after buying an additional 450,792 shares during the last quarter. Valley Wealth Managers Inc. lifted its stake in Sonoco Products by 699.3% in the first quarter. Valley Wealth Managers Inc. now owns 497,814 shares of the industrial products company’s stock valued at $23,517,000 after buying an additional 435,529 shares during the last quarter. Wellington Management Group LLP bought a new stake in Sonoco Products in the fourth quarter valued at $15,533,000. Finally, Hotchkis & Wiley Capital Management LLC bought a new stake in Sonoco Products in the first quarter valued at $12,883,000. 77.69% of the stock is currently owned by institutional investors.

Sonoco Products Price Performance

Shares of NYSE SON opened at $43.90 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.25 and a debt-to-equity ratio of 1.53. The firm’s 50-day simple moving average is $46.32 and its 200 day simple moving average is $45.58. 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 market cap of $4.33 billion, a P/E ratio of 7.87, a P/E/G ratio of 0.59 and a beta of 0.70.

Sonoco Products (NYSE:SON) last issued its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $1.37 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.07). Sonoco Products had a return on equity of 20.46% and a net margin of 8.35%.The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter last year, the firm posted $1.28 earnings per share. Sonoco Products’s revenue 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. Equities analysts expect that Sonoco Products Company will post 6.1 EPS for the current year.

Sonoco Products Announces Dividend

The firm also recently declared 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 37.99%.

Analyst Ratings Changes

A number of brokerages recently weighed in on SON. UBS Group lifted their price objective on shares of Sonoco Products from $48.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Truist Financial lifted their price objective on shares of Sonoco Products from $53.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Finally, Raymond James Financial lifted their price objective on shares of Sonoco Products from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Tuesday, July 15th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.