HB Wealth Management LLC Has $279,000 Position in Sonoco Products Company $SON

HB Wealth Management LLC lowered its holdings in Sonoco Products Company (NYSE:SON) by 23.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,398 shares of the industrial products company’s stock after selling 1,990 shares during the quarter. HB Wealth Management LLC’s holdings in Sonoco Products were worth $279,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Sound Income Strategies LLC raised its stake in shares of Sonoco Products by 6.5% during the 2nd quarter. Sound Income Strategies LLC now owns 355,188 shares of the industrial products company’s stock worth $15,472,000 after purchasing an additional 21,622 shares during the period. Sonora Investment Management Group LLC raised its stake in shares of Sonoco Products by 2.1% during the 2nd quarter. Sonora Investment Management Group LLC now owns 52,124 shares of the industrial products company’s stock worth $2,271,000 after purchasing an additional 1,055 shares during the period. ST Germain D J Co. Inc. bought a new stake in shares of Sonoco Products during the 2nd quarter worth $26,000. Steph & Co. raised its stake in shares of Sonoco Products by 25.0% during the 2nd quarter. Steph & Co. now owns 11,443 shares of the industrial products company’s stock worth $498,000 after purchasing an additional 2,289 shares during the period. Finally, Kempner Capital Management Inc. bought a new stake in shares of Sonoco Products during the 2nd quarter worth $1,919,000. Institutional investors and hedge funds own 77.69% of the company’s stock.

Sonoco Products Stock Down 1.5%

Shares of SON opened at $42.67 on Tuesday. The firm has a market cap of $4.21 billion, a P/E ratio of 7.65, a P/E/G ratio of 0.58 and a beta of 0.68. The stock has a 50 day simple moving average of $45.74 and a two-hundred day simple moving average of $45.41. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.25 and a quick ratio of 0.72. Sonoco Products Company has a 1 year low of $39.46 and a 1 year high of $55.33.

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 the consensus estimate of $1.44 by ($0.07). The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Sonoco Products had a return on equity of 20.46% and a net margin of 8.35%.The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.28 EPS. Sonoco Products has set its FY 2025 guidance at 6.000-6.2 EPS. On average, analysts forecast that Sonoco Products Company will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date was Friday, August 8th. Sonoco Products’s dividend payout ratio is currently 37.99%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SON. Truist Financial lifted 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. Weiss Ratings restated a “hold (c-)” rating on shares of Sonoco Products in a research note on Saturday, September 27th. UBS Group lowered their price objective on Sonoco Products from $50.00 to $46.00 and set a “neutral” rating on the stock in a research note on Monday. Raymond James Financial boosted their price objective on Sonoco Products from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Tuesday, July 15th. Finally, Citigroup lowered their price objective on Sonoco Products from $56.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, September 29th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $57.13.

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.