Sonoco Products Company $SON Shares Sold by Farther Finance Advisors LLC

Farther Finance Advisors LLC trimmed its stake in shares of Sonoco Products Company (NYSE:SON) by 53.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,440 shares of the industrial products company’s stock after selling 1,642 shares during the quarter. Farther Finance Advisors LLC’s holdings in Sonoco Products were worth $63,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Wedge Capital Management L L P NC boosted its position in shares of Sonoco Products by 17.2% during the 2nd quarter. Wedge Capital Management L L P NC now owns 152,974 shares of the industrial products company’s stock worth $6,664,000 after acquiring an additional 22,483 shares in the last quarter. Harbour Capital Advisors LLC acquired a new position in shares of Sonoco Products during the 2nd quarter worth about $212,000. My Legacy Advisors LLC boosted its position in shares of Sonoco Products by 8.1% during the 2nd quarter. My Legacy Advisors LLC now owns 7,174 shares of the industrial products company’s stock worth $337,000 after acquiring an additional 536 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Sonoco Products by 9.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 59,396 shares of the industrial products company’s stock worth $2,763,000 after acquiring an additional 5,218 shares in the last quarter. Finally, Gateway Investment Advisers LLC boosted its position in shares of Sonoco Products by 10.7% during the 2nd quarter. Gateway Investment Advisers LLC now owns 8,312 shares of the industrial products company’s stock worth $362,000 after acquiring an additional 803 shares in the last quarter. 77.69% of the stock is owned by institutional investors and hedge funds.

Sonoco Products Stock Up 0.5%

Sonoco Products stock opened at $43.32 on Monday. Sonoco Products Company has a twelve month low of $39.46 and a twelve month high of $55.33. The stock has a 50 day moving average of $45.84 and a two-hundred day moving average of $45.44. The company has a current ratio of 1.25, a quick ratio of 0.72 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of 7.76, a PEG ratio of 0.58 and a beta of 0.68.

Sonoco Products (NYSE:SON) last posted its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $1.37 earnings per share 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 analyst estimates of $1.92 billion. During the same period in the previous year, the business posted $1.28 earnings per share. The firm’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. As a group, research 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 dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend was Friday, August 8th. Sonoco Products’s dividend payout ratio (DPR) is presently 37.99%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SON shares. 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 research report on Tuesday, July 15th. Citigroup lowered their price objective on Sonoco Products from $56.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, September 29th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Sonoco Products in a research report on Saturday, September 27th. UBS Group upped their target price on Sonoco Products from $48.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Finally, Truist Financial upped their target price on Sonoco Products from $53.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.63.

Sonoco Products 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.