Jacobs Levy Equity Management Inc. Takes Position in Sonoco Products Company $SON

Jacobs Levy Equity Management Inc. acquired a new stake in Sonoco Products Company (NYSE:SON) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 25,432 shares of the industrial products company’s stock, valued at approximately $1,201,000.

Several other hedge funds have also modified their holdings of the stock. Beverly Hills Private Wealth LLC raised its holdings in shares of Sonoco Products by 4.1% during the 1st quarter. Beverly Hills Private Wealth LLC now owns 5,669 shares of the industrial products company’s stock valued at $268,000 after buying an additional 224 shares during the period. CW Advisors LLC boosted its position in Sonoco Products by 1.5% during the 1st quarter. CW Advisors LLC now owns 14,791 shares of the industrial products company’s stock valued at $699,000 after purchasing an additional 224 shares during the period. Federated Hermes Inc. boosted its position in Sonoco Products by 2.5% during the 1st quarter. Federated Hermes Inc. now owns 9,304 shares of the industrial products company’s stock valued at $440,000 after purchasing an additional 230 shares during the period. IVC Wealth Advisors LLC boosted its position in Sonoco Products by 4.6% during the 1st quarter. IVC Wealth Advisors LLC now owns 6,542 shares of the industrial products company’s stock valued at $309,000 after purchasing an additional 288 shares during the period. Finally, State of Michigan Retirement System boosted its position in Sonoco Products by 1.3% during the 1st quarter. State of Michigan Retirement System now owns 23,551 shares of the industrial products company’s stock worth $1,113,000 after acquiring an additional 300 shares during the period. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Sonoco Products Stock Performance

SON opened at $47.16 on Friday. Sonoco Products Company has a 52-week low of $39.46 and a 52-week high of $56.36. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.72 and a current ratio of 1.25. The company has a market cap of $4.65 billion, a PE ratio of 8.45, a price-to-earnings-growth ratio of 0.62 and a beta of 0.70. The stock has a 50-day moving average of $46.34 and a 200-day moving average of $45.64.

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

Sonoco Products Announces Dividend

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

Analysts Set New Price Targets

SON has been the subject of a number of analyst reports. Truist Financial boosted their price target on Sonoco Products from $53.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Wells Fargo & Company raised Sonoco Products from an “underweight” rating to an “overweight” rating and boosted their target price for the stock from $45.00 to $55.00 in a research report on Friday, May 23rd. UBS Group boosted their target price 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, Raymond James Financial upped their price target on Sonoco Products from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Tuesday, July 15th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.63.

Sonoco Products Profile

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.