State of Alaska Department of Revenue Sells 455 Shares of Sonoco Products Company $SON

State of Alaska Department of Revenue lessened its stake in Sonoco Products Company (NYSE:SON) by 4.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,056 shares of the industrial products company’s stock after selling 455 shares during the period. State of Alaska Department of Revenue’s holdings in Sonoco Products were worth $481,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in SON. Millennium Management LLC grew its position in Sonoco Products by 739.7% in the 1st quarter. Millennium Management LLC now owns 1,152,506 shares of the industrial products company’s stock worth $54,444,000 after purchasing an additional 1,015,250 shares during the period. Dimensional Fund Advisors LP grew its position in Sonoco Products by 14.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,591,263 shares of the industrial products company’s stock worth $169,646,000 after purchasing an additional 450,792 shares during the period. Valley Wealth Managers Inc. grew its position in Sonoco Products by 699.3% in the 1st quarter. Valley Wealth Managers Inc. now owns 497,814 shares of the industrial products company’s stock worth $23,517,000 after purchasing an additional 435,529 shares during the period. Hotchkis & Wiley Capital Management LLC bought a new stake in Sonoco Products in the 1st quarter worth approximately $12,883,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Sonoco Products by 87.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 545,179 shares of the industrial products company’s stock worth $25,754,000 after acquiring an additional 255,055 shares during the last quarter. Institutional investors own 77.69% of the company’s stock.

Sonoco Products Stock Up 0.3%

Shares of SON stock opened at $42.61 on Thursday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.25 and a quick ratio of 0.72. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of 7.64, a PEG ratio of 0.57 and a beta of 0.68. The company’s fifty day moving average price is $45.58 and its 200-day moving average price is $45.37. Sonoco Products Company has a one year low of $39.46 and a one year high of $55.33.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.07). The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.92 billion. Sonoco Products had a net margin of 8.35% and a return on equity of 20.46%. The business’s revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.28 earnings per share. Sonoco Products has set its FY 2025 guidance at 6.000-6.2 EPS. Sell-side analysts expect that Sonoco Products Company will post 6.1 EPS for the current fiscal year.

Sonoco Products Announces Dividend

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

Wall Street Analyst Weigh In

SON has been the topic of several analyst reports. UBS Group dropped their price target on shares of Sonoco Products from $50.00 to $46.00 and set a “neutral” rating on the stock in a research note on Monday. Citigroup dropped their price target on shares of Sonoco Products from $56.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, September 29th. Raymond James Financial lifted their price target 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. Weiss Ratings reiterated a “hold (c-)” rating on shares of Sonoco Products in a research note on Wednesday. Finally, Truist Financial lifted their price target on shares of Sonoco Products from $53.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $57.13.

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.