Capital Fund Management S.A. Purchases Shares of 11,835 Sonoco Products Company $SON

Capital Fund Management S.A. purchased a new stake in Sonoco Products Company (NYSE:SON) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 11,835 shares of the industrial products company’s stock, valued at approximately $559,000.

A number of other hedge funds also recently bought and sold shares of SON. Tower Research Capital LLC TRC boosted its position in shares of Sonoco Products by 119.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,373 shares of the industrial products company’s stock worth $556,000 after acquiring an additional 6,188 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Sonoco Products by 9.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 60,189 shares of the industrial products company’s stock worth $2,941,000 after acquiring an additional 4,978 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Sonoco Products by 198.0% during the 4th quarter. Voya Investment Management LLC now owns 191,427 shares of the industrial products company’s stock worth $9,351,000 after acquiring an additional 127,184 shares in the last quarter. Nebula Research & Development LLC acquired a new position in shares of Sonoco Products during the 4th quarter worth about $517,000. Finally, Quarry LP boosted its position in shares of Sonoco Products by 111.3% during the 4th quarter. Quarry LP now owns 970 shares of the industrial products company’s stock worth $47,000 after acquiring an additional 511 shares in the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on SON. Wall Street Zen raised Sonoco Products from a “sell” rating to a “hold” rating in a research report on Wednesday, May 7th. Wells Fargo & Company raised Sonoco Products from an “underweight” rating to an “overweight” rating and upped their price objective for the stock from $45.00 to $55.00 in a research report on Friday, May 23rd. Raymond James Financial upped their price objective on Sonoco Products from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. UBS Group upped their price objective on Sonoco Products from $48.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Finally, Truist Financial lifted their target price on Sonoco Products from $53.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Sonoco Products has a consensus rating of “Moderate Buy” and an average price target of $57.63.

Sonoco Products Stock Down 0.2%

SON opened at $46.77 on Wednesday. The business’s 50-day simple moving average is $45.82 and its 200-day simple moving average is $45.69. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.72 and a current ratio of 1.25. Sonoco Products Company has a one year low of $39.46 and a one year high of $56.77. The stock has a market capitalization of $4.61 billion, a P/E ratio of 8.38, a price-to-earnings-growth ratio of 0.63 and a beta of 0.69.

Sonoco Products (NYSE:SON) last announced its earnings results on Wednesday, July 23rd. The industrial products company reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.07). Sonoco Products had a net margin of 8.35% and a return on equity of 20.46%. The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same period in the previous year, the company posted $1.28 earnings per share. Sonoco Products’s quarterly revenue was up 17.7% on a year-over-year basis. Sonoco Products has set its FY 2025 guidance at 6.000-6.2 EPS. Analysts anticipate that Sonoco Products Company will post 6.1 EPS for the current year.

Sonoco Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th will be paid a dividend of $0.53 per share. The ex-dividend date is Friday, August 8th. This represents a $2.12 annualized dividend and a dividend yield of 4.5%. Sonoco Products’s dividend payout ratio is 37.99%.

About Sonoco Products

Sonoco Products Company, together with its subsidiaries, designs, develops, manufactures, and sells various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates Consumer Packaging and Industrial Paper Packaging segments. The Consumer Packaging segment offers round and shaped rigid paper, steel, and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays and enclosures; and high-barrier flexible packaging products.