Skandinaviska Enskilda Banken AB publ Sells 82,700 Shares of Sonoco Products Company $SON

Skandinaviska Enskilda Banken AB publ reduced its holdings in shares of Sonoco Products Company (NYSE:SON) by 55.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 66,700 shares of the industrial products company’s stock after selling 82,700 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.07% of Sonoco Products worth $2,874,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Cornerstone Planning Group LLC bought a new position in Sonoco Products during the third quarter worth about $29,000. TD Waterhouse Canada Inc. acquired a new position in shares of Sonoco Products in the 2nd quarter worth approximately $30,000. True Wealth Design LLC raised its holdings in shares of Sonoco Products by 172.5% in the 3rd quarter. True Wealth Design LLC now owns 744 shares of the industrial products company’s stock worth $32,000 after buying an additional 471 shares in the last quarter. SouthState Corp lifted its position in shares of Sonoco Products by 439.1% during the 2nd quarter. SouthState Corp now owns 1,240 shares of the industrial products company’s stock worth $54,000 after buying an additional 1,010 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in Sonoco Products by 315.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,587 shares of the industrial products company’s stock valued at $69,000 after buying an additional 1,205 shares in the last quarter. Institutional investors own 77.69% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on SON. Weiss Ratings reiterated a “hold (c-)” rating on shares of Sonoco Products in a research note on Wednesday, January 21st. Raymond James Financial set a $60.00 target price on shares of Sonoco Products in a report on Monday, January 5th. Citigroup increased their target price on shares of Sonoco Products from $52.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday. Robert W. Baird lifted their price target on shares of Sonoco Products from $48.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Jefferies Financial Group decreased their price objective on shares of Sonoco Products from $61.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, October 24th. Four research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $62.63.

Sonoco Products Stock Performance

Sonoco Products stock opened at $56.48 on Friday. The stock has a 50-day simple moving average of $47.88 and a 200 day simple moving average of $44.81. The stock has a market capitalization of $5.57 billion, a price-to-earnings ratio of 5.61, a P/E/G ratio of 1.12 and a beta of 0.54. The company has a quick ratio of 0.58, a current ratio of 1.05 and a debt-to-equity ratio of 1.04. Sonoco Products Company has a 12-month low of $38.65 and a 12-month high of $58.44.

Sonoco Products (NYSE:SON) last issued its quarterly earnings data on Monday, February 16th. The industrial products company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.04. Sonoco Products had a net margin of 13.34% and a return on equity of 18.52%. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the prior year, the firm earned $1.17 EPS. The company’s revenue was up 29.7% on a year-over-year basis. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. On average, research analysts anticipate that Sonoco Products Company will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 25th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Wednesday, February 25th. Sonoco Products’s dividend payout ratio (DPR) is presently 21.05%.

Sonoco Products Company 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.