Sonora Investment Management Group LLC Acquires 1,055 Shares of Sonoco Products Company $SON

Sonora Investment Management Group LLC boosted its position in Sonoco Products Company (NYSE:SON) by 2.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,124 shares of the industrial products company’s stock after purchasing an additional 1,055 shares during the quarter. Sonora Investment Management Group LLC owned about 0.05% of Sonoco Products worth $2,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Sequoia Financial Advisors LLC purchased a new stake in Sonoco Products in the 1st quarter worth approximately $820,000. Principal Financial Group Inc. raised its position in shares of Sonoco Products by 0.5% during the 1st quarter. Principal Financial Group Inc. now owns 226,179 shares of the industrial products company’s stock valued at $10,685,000 after buying an additional 1,044 shares in the last quarter. OneDigital Investment Advisors LLC purchased a new position in Sonoco Products in the 1st quarter worth $232,000. World Investment Advisors purchased a new position in Sonoco Products in the 1st quarter worth $1,347,000. Finally, Janney Montgomery Scott LLC grew its holdings in Sonoco Products by 29.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 23,004 shares of the industrial products company’s stock worth $1,087,000 after acquiring an additional 5,278 shares during the last quarter. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Sonoco Products Price Performance

SON stock opened at $43.90 on Friday. Sonoco Products Company has a 52 week low of $39.46 and a 52 week high of $55.33. 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 company has a fifty day simple moving average of $46.32 and a two-hundred day simple moving average of $45.58. The firm has a market capitalization of $4.33 billion, a P/E ratio of 7.87, a price-to-earnings-growth ratio of 0.59 and a beta of 0.70.

Sonoco Products (NYSE:SON) last released its earnings results on Wednesday, July 23rd. The industrial products company reported $1.37 earnings per share (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 firm 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 business posted $1.28 EPS. 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. Analysts anticipate that Sonoco Products Company will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SON shares. UBS Group lifted their target price 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. Raymond James Financial upped their target price on shares of Sonoco Products from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. Finally, Truist Financial boosted their price objective on shares of Sonoco Products from $53.00 to $58.00 and gave the company a “buy” rating in a report 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.