Heartland Advisors Inc. Purchases New Position in Sonoco Products Company $SON

Heartland Advisors Inc. acquired a new stake in Sonoco Products Company (NYSE:SON) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 150,000 shares of the industrial products company’s stock, valued at approximately $8,452,000. Heartland Advisors Inc. owned approximately 0.15% of Sonoco Products at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Allworth Financial LP bought a new position in shares of Sonoco Products during the second quarter valued at $111,000. Tocqueville Asset Management L.P. bought a new stake in Sonoco Products in the 2nd quarter worth about $2,000,000. Foster & Motley Inc. purchased a new position in Sonoco Products in the 2nd quarter worth about $503,000. Alpine Woods Capital Investors LLC purchased a new position in Sonoco Products in the 2nd quarter worth about $252,000. Finally, BlackRock Inc. bought a new position in Sonoco Products during the 2nd quarter valued at about $657,016,000. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Sonoco Products Price Performance

NYSE SON opened at $59.51 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.55 and a debt-to-equity ratio of 0.97. Sonoco Products Company has a 12 month low of $38.65 and a 12 month high of $60.67. The stock has a market cap of $5.88 billion, a price-to-earnings ratio of 9.46, a PEG ratio of 1.23 and a beta of 0.37. The company’s 50 day moving average is $55.83 and its two-hundred day moving average is $53.43.

Sonoco Products (NYSE:SON) last posted its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.04. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.88 billion. Sonoco Products had a net margin of 8.41% and a return on equity of 16.50%. The company’s revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.37 earnings per share. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. As a group, research analysts anticipate that Sonoco Products Company will post 5.8 earnings per share for the current year.

Sonoco Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $2.16 annualized dividend and a yield of 3.6%. Sonoco Products’s dividend payout ratio is currently 34.34%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SON. Truist Financial lifted their price target on shares of Sonoco Products from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Wall Street Zen downgraded shares of Sonoco Products from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings upgraded shares of Sonoco Products from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 3rd. Citigroup lifted their target price on shares of Sonoco Products from $63.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Finally, Bank of America boosted their target price on shares of Sonoco Products from $65.00 to $69.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Five analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $61.78.

About Sonoco Products

Sonoco Products Company (NYSE: SON) is a global provider of diversified packaging solutions, serving a wide range of consumer, industrial and retail markets. The company offers a broad portfolio that includes rigid paper and plastic containers, flexible packaging, industrial core and tube products, thermoformed plastics, retail point-of-purchase displays, and packaging supply chain services. Through its solutions, Sonoco helps customers in food and beverage, personal care, chemicals, healthcare, home and garden, and electronics industries address their packaging needs, improve product shelf appeal, and optimize logistics efficiency.

With operations in more than 30 countries across North America, South America, Europe, Asia and Africa, Sonoco leverages a global network of manufacturing facilities, recycling centers and distribution channels to meet the demands of multinational and regional customers.