Private Management Group Inc. Sells 17,601 Shares of Sonoco Products Company $SON

Private Management Group Inc. lowered its holdings in Sonoco Products Company (NYSE:SON) by 2.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 838,146 shares of the industrial products company’s stock after selling 17,601 shares during the period. Sonoco Products makes up about 1.2% of Private Management Group Inc.’s holdings, making the stock its 11th biggest position. Private Management Group Inc. owned about 0.85% of Sonoco Products worth $47,230,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SON. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Sonoco Products by 44.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,093 shares of the industrial products company’s stock valued at $2,319,000 after buying an additional 15,079 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Sonoco Products by 80.8% in the first quarter. Goldman Sachs Group Inc. now owns 206,493 shares of the industrial products company’s stock worth $9,755,000 after acquiring an additional 92,286 shares during the period. Empowered Funds LLC boosted its holdings in shares of Sonoco Products by 14.1% in the first quarter. Empowered Funds LLC now owns 11,058 shares of the industrial products company’s stock worth $522,000 after acquiring an additional 1,364 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Sonoco Products by 87.9% in the first 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 valued at $25,754,000 after purchasing an additional 255,055 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Sonoco Products by 315.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,587 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 1,205 shares during the period. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Sonoco Products Price Performance

Sonoco Products stock opened at $56.60 on Friday. Sonoco Products Company has a 52 week low of $38.65 and a 52 week high of $60.67. The business has a 50-day simple moving average of $56.49 and a 200 day simple moving average of $53.67. The company has a quick ratio of 0.55, a current ratio of 0.99 and a debt-to-equity ratio of 0.97. The stock has a market cap 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 announced its earnings results on Wednesday, July 22nd. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Sonoco Products’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.37 earnings per share. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. On average, research analysts forecast that Sonoco Products Company will post 5.8 earnings per share for the current fiscal year.

Sonoco Products Dividend Announcement

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 paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Monday, August 10th. Sonoco Products’s dividend payout ratio is currently 34.34%.

Analyst Upgrades and Downgrades

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

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.