Sonoco Products Company $SON Shares Purchased by Readystate Asset Management LP

Readystate Asset Management LP raised its holdings in Sonoco Products Company (NYSE:SON) by 141.5% in the second quarter, Holdings Channel reports. The fund owned 48,315 shares of the industrial products company’s stock after buying an additional 28,307 shares during the period. Readystate Asset Management LP’s holdings in Sonoco Products were worth $2,723,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of SON. BlackRock Inc. acquired a new position in shares of Sonoco Products during the 2nd quarter worth approximately $657,016,000. Fuller & Thaler Asset Management Inc. increased its holdings in shares of Sonoco Products by 477.8% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,901,950 shares of the industrial products company’s stock valued at $257,561,000 after purchasing an additional 4,880,438 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of Sonoco Products in the second quarter valued at approximately $204,968,000. AQR Capital Management LLC lifted its position in Sonoco Products by 357.8% during the third quarter. AQR Capital Management LLC now owns 2,117,022 shares of the industrial products company’s stock worth $90,693,000 after buying an additional 1,654,576 shares in the last quarter. Finally, Norges Bank acquired a new position in Sonoco Products during the fourth quarter worth $54,611,000. 77.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SON has been the subject of several analyst reports. Truist Financial upped their target price on Sonoco Products from $64.00 to $68.00 and gave the company a “buy” rating in a report on Friday, July 24th. Weiss Ratings raised shares of Sonoco Products from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 26th. Citigroup upped their price objective on shares of Sonoco Products from $63.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Finally, Bank of America cut shares of Sonoco Products from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $69.00 to $60.00 in a research report on Thursday. Five analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $60.78.

Sonoco Products Stock Performance

Shares of Sonoco Products stock opened at $51.95 on Monday. The stock has a 50 day moving average of $56.58 and a 200 day moving average of $53.77. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.55 and a current ratio of 0.99. The firm has a market capitalization of $5.14 billion, a price-to-earnings ratio of 8.26, a PEG ratio of 1.30 and a beta of 0.36. Sonoco Products Company has a fifty-two week low of $38.65 and a fifty-two week high of $60.67.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.47 by $0.04. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.88 billion. Sonoco Products had a return on equity of 16.50% and a net margin of 8.41%.The company’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.37 EPS. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. As a group, research analysts predict that Sonoco Products Company will post 5.78 earnings per share for the current year.

Sonoco Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 10th will be given a $0.54 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $2.16 dividend on an annualized basis and a yield of 4.2%. Sonoco Products’s dividend payout ratio is presently 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.