US Bancorp DE Has $746,000 Stake in Sonoco Products Company $SON

US Bancorp DE decreased its holdings in shares of Sonoco Products Company (NYSE:SON) by 3.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,136 shares of the industrial products company’s stock after selling 673 shares during the quarter. US Bancorp DE’s holdings in Sonoco Products were worth $746,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. Beverly Hills Private Wealth LLC lifted its position in shares of Sonoco Products by 4.1% in the 1st quarter. Beverly Hills Private Wealth LLC now owns 5,669 shares of the industrial products company’s stock worth $268,000 after acquiring an additional 224 shares during the period. CW Advisors LLC grew its stake in shares of Sonoco Products by 1.5% during the first quarter. CW Advisors LLC now owns 14,791 shares of the industrial products company’s stock worth $699,000 after purchasing an additional 224 shares during the period. Federated Hermes Inc. grew its stake in shares of Sonoco Products by 2.5% during the first quarter. Federated Hermes Inc. now owns 9,304 shares of the industrial products company’s stock worth $440,000 after purchasing an additional 230 shares during the period. State of Michigan Retirement System lifted its holdings in Sonoco Products by 1.3% during the first quarter. State of Michigan Retirement System now owns 23,551 shares of the industrial products company’s stock worth $1,113,000 after acquiring an additional 300 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Sonoco Products by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 11,511 shares of the industrial products company’s stock valued at $543,000 after purchasing an additional 305 shares in the last quarter. Institutional investors own 77.69% of the company’s stock.

Analyst Ratings Changes

SON has been the topic of several analyst reports. Truist Financial dropped their target price on Sonoco Products from $58.00 to $57.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Raymond James Financial reaffirmed a “market perform” rating on shares of Sonoco Products in a research report on Friday. Bank of America reissued a “neutral” rating and set a $56.00 price target on shares of Sonoco Products in a research report on Thursday, October 9th. Citigroup reduced their target price on Sonoco Products from $56.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, September 29th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Sonoco Products in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Sonoco Products has an average rating of “Hold” and an average price target of $54.50.

Sonoco Products Price Performance

Shares of NYSE SON opened at $40.01 on Friday. Sonoco Products Company has a twelve month low of $39.13 and a twelve month high of $53.69. The stock’s 50 day moving average price is $44.85 and its 200-day moving average price is $45.00. The company has a market capitalization of $3.95 billion, a PE ratio of 7.17, a PEG ratio of 0.65 and a beta of 0.68. The company has a quick ratio of 0.72, a current ratio of 1.25 and a debt-to-equity ratio of 1.53.

Sonoco Products (NYSE:SON) last announced its earnings results on Wednesday, June 22nd. The industrial products company reported $1.00 earnings per share for the quarter. The firm had revenue of $1.35 billion for the quarter. Sonoco Products had a return on equity of 20.46% and a net margin of 8.35%. Sonoco Products has set its Q2 2022 guidance at $1.60-$1.70 EPS. On average, equities analysts anticipate that Sonoco Products Company will post 6.1 EPS for the current year.

Sonoco Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $2.12 dividend on an annualized basis and a yield of 5.3%. Sonoco Products’s payout ratio is presently 37.99%.

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.