Equitable Holdings Inc. Invests $642,000 in Sonoco Products Company $SON

Equitable Holdings Inc. purchased a new position in shares of Sonoco Products Company (NYSE:SON) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,392 shares of the industrial products company’s stock, valued at approximately $642,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. SBI Securities Co. Ltd. grew its stake in shares of Sonoco Products by 77.7% in the fourth quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company’s stock valued at $26,000 after buying an additional 258 shares in the last quarter. WPG Advisers LLC raised its holdings in shares of Sonoco Products by 93.1% in the 1st quarter. WPG Advisers LLC now owns 612 shares of the industrial products company’s stock valued at $33,000 after buying an additional 295 shares during the period. LRI Investments LLC acquired a new position in Sonoco Products during the 4th quarter worth about $29,000. Larson Financial Group LLC boosted its holdings in Sonoco Products by 1,826.9% during the 3rd quarter. Larson Financial Group LLC now owns 1,002 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 950 shares during the period. Finally, Cullen Frost Bankers Inc. purchased a new position in Sonoco Products during the 4th quarter valued at about $47,000. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on SON. Weiss Ratings upgraded shares of Sonoco Products from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. Citigroup raised their price objective on shares of Sonoco Products from $63.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Bank of America lifted their price objective on shares of Sonoco Products from $65.00 to $69.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Wall Street Zen downgraded shares of Sonoco Products from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Truist Financial increased their target price on shares of Sonoco Products from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.78.

Sonoco Products Stock Down 0.2%

SON stock opened at $56.60 on Friday. The company’s 50 day moving average price is $56.49 and its 200 day moving average price is $53.67. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.55 and a current ratio of 0.99. Sonoco Products Company has a fifty-two week low of $38.65 and a fifty-two week high of $60.67. The firm has a market capitalization of $5.60 billion, a price-to-earnings ratio of 9.00, a PEG ratio of 1.19 and a beta of 0.37.

Sonoco Products (NYSE:SON) last issued its earnings results on Wednesday, July 22nd. The industrial products company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.04. Sonoco Products had a net margin of 8.41% and a return on equity of 16.50%. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter last year, the company earned $1.37 earnings per share. The firm’s revenue was down 1.3% compared to the same quarter last year. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. On average, equities research analysts anticipate that Sonoco Products Company will post 5.8 EPS for the current fiscal year.

Sonoco Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 10th will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, August 10th. Sonoco Products’s payout ratio is 34.34%.

Sonoco Products Profile

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.