Public Employees Retirement System of Ohio Purchases New Holdings in Sonoco Products Company $SON

Public Employees Retirement System of Ohio purchased a new stake in Sonoco Products Company (NYSE:SON) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 106,546 shares of the industrial products company’s stock, valued at approximately $6,004,000.

A number of other hedge funds also recently modified their holdings of SON. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Sonoco Products by 44.3% during the first 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 purchasing an additional 15,079 shares during the period. Goldman Sachs Group Inc. lifted its position in 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 purchasing an additional 92,286 shares during the period. Empowered Funds LLC boosted its stake in Sonoco Products by 14.1% during the first quarter. Empowered Funds LLC now owns 11,058 shares of the industrial products company’s stock worth $522,000 after buying an additional 1,364 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Sonoco Products by 87.9% during 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 worth $25,754,000 after buying an additional 255,055 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings 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 during the period. Institutional investors own 77.69% of the company’s stock.

Sonoco Products Stock Performance

Shares of NYSE:SON opened at $54.69 on Thursday. The business’s fifty day moving average price is $56.67 and its two-hundred day moving average price is $53.76. Sonoco Products Company has a fifty-two week low of $38.65 and a fifty-two week high of $60.67. The stock has a market capitalization of $5.41 billion, a price-to-earnings ratio of 8.69, a price-to-earnings-growth ratio of 1.25 and a beta of 0.36. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.99 and a quick ratio of 0.55.

Sonoco Products (NYSE:SON) last released its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.04. The firm had revenue of $1.89 billion during 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 business’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.37 earnings per share. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. As a group, analysts predict that Sonoco Products Company will post 5.8 EPS for the current fiscal year.

Sonoco Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Monday, August 10th. Sonoco Products’s dividend payout ratio (DPR) is currently 34.34%.

Wall Street Analyst Weigh In

SON has been the subject of a number of recent research reports. Truist Financial increased their price objective on shares of Sonoco Products from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Citigroup lifted their target price on shares of Sonoco Products from $63.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Bank of America increased their price target on shares of Sonoco Products from $65.00 to $69.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Finally, Weiss Ratings upgraded shares of Sonoco Products from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 26th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.