Sonoco Products Company $SON Shares Sold by Trust Co of the South

Trust Co of the South lowered its holdings in Sonoco Products Company (NYSE:SON) by 12.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,076 shares of the industrial products company’s stock after selling 1,953 shares during the quarter. Trust Co of the South’s holdings in Sonoco Products were worth $613,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Sonoco Products by 508.1% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 900 shares of the industrial products company’s stock worth $43,000 after buying an additional 752 shares during the last quarter. UMB Bank n.a. grew its holdings in Sonoco Products by 152.7% in the 1st quarter. UMB Bank n.a. now owns 950 shares of the industrial products company’s stock valued at $45,000 after buying an additional 574 shares during the period. Allworth Financial LP grew its holdings in Sonoco Products by 152.0% in the 1st quarter. Allworth Financial LP now owns 1,071 shares of the industrial products company’s stock valued at $50,000 after buying an additional 646 shares during the period. Quarry LP grew its holdings in shares of Sonoco Products by 56.5% during the 1st quarter. Quarry LP now owns 1,518 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 548 shares during the period. Finally, Versant Capital Management Inc grew its holdings in shares of Sonoco Products by 474.8% during the 1st quarter. Versant Capital Management Inc now owns 2,299 shares of the industrial products company’s stock worth $109,000 after purchasing an additional 1,899 shares during the period. Institutional investors and hedge funds own 77.69% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on SON. Truist Financial boosted their price target on Sonoco Products from $53.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. 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. Wells Fargo & Company raised Sonoco Products from an “underweight” rating to an “overweight” rating and upped their target price for the company from $45.00 to $55.00 in a research report on Friday, May 23rd. Finally, Raymond James Financial boosted their price target on Sonoco Products from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Tuesday, July 15th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Sonoco Products has an average rating of “Moderate Buy” and an average target price of $57.63.

Sonoco Products Trading Up 1.2%

Shares of NYSE SON opened at $47.79 on Friday. The business has a fifty day simple moving average of $46.36 and a 200-day simple moving average of $45.64. The company has a market cap of $4.71 billion, a price-to-earnings ratio of 8.56, a P/E/G ratio of 0.64 and a beta of 0.70. 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 Company has a 12 month low of $39.46 and a 12 month high of $56.36.

Sonoco Products (NYSE:SON) last issued its earnings results on Wednesday, July 23rd. The industrial products company reported $1.37 earnings per share 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 analyst estimates of $1.92 billion. During the same period in the previous year, the company earned $1.28 earnings per share. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. Sonoco Products has set its FY 2025 guidance at 6.000-6.2 EPS. Sell-side analysts predict that Sonoco Products Company will post 6.1 EPS for the current year.

Sonoco Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were given a $0.53 dividend. The ex-dividend date was Friday, August 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.4%. Sonoco Products’s dividend payout ratio (DPR) is currently 37.99%.

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.