Beverly Hills Private Wealth LLC Lowers Holdings in Sonoco Products Company $SON

Beverly Hills Private Wealth LLC trimmed its holdings in Sonoco Products Company (NYSE:SON) by 10.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 5,102 shares of the industrial products company’s stock after selling 567 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Sonoco Products were worth $222,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of SON. ST Germain D J Co. Inc. acquired a new stake in shares of Sonoco Products during the 2nd quarter valued at about $26,000. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Sonoco Products by 508.1% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 900 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 752 shares in the last quarter. Allworth Financial LP increased its position in shares of Sonoco Products by 152.0% in the first quarter. Allworth Financial LP now owns 1,071 shares of the industrial products company’s stock valued at $50,000 after buying an additional 646 shares in the last quarter. Hilltop National Bank purchased a new stake in shares of Sonoco Products in the second quarter valued at approximately $56,000. Finally, Quarry LP increased its position in shares of Sonoco Products by 56.5% in the first quarter. Quarry LP now owns 1,518 shares of the industrial products company’s stock valued at $72,000 after buying an additional 548 shares in the last quarter. 77.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SON has been the subject of a number of recent analyst reports. UBS Group cut their price objective on Sonoco Products from $50.00 to $46.00 and set a “neutral” rating for the company in a research report on Monday, October 6th. Citigroup cut their price objective on Sonoco Products from $56.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, September 29th. Raymond James Financial restated a “market perform” rating on shares of Sonoco Products in a research report on Friday, October 17th. Wells Fargo & Company reduced their price target on shares of Sonoco Products from $55.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, October 15th. Finally, Truist Financial reduced their price target on shares of Sonoco Products from $58.00 to $57.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $54.50.

Sonoco Products Stock Up 1.7%

SON stock opened at $41.19 on Wednesday. The company has a market cap of $4.06 billion, a price-to-earnings ratio of 7.38, a PEG ratio of 0.66 and a beta of 0.68. The company has a current ratio of 1.25, a quick ratio of 0.72 and a debt-to-equity ratio of 1.53. Sonoco Products Company has a 12 month low of $39.13 and a 12 month high of $53.69. The firm has a 50-day moving average of $44.67 and a two-hundred day moving average of $44.95.

Sonoco Products (NYSE:SON) last released its quarterly earnings data on Wednesday, June 22nd. The industrial products company reported $1.00 EPS for the quarter. The company had revenue of $1.35 billion during the quarter. Sonoco Products had a net margin of 8.35% and a return on equity of 20.46%. Sonoco Products has set its Q2 2022 guidance at $1.60-$1.70 EPS. As a group, analysts forecast that Sonoco Products Company will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th will be issued a $0.53 dividend. The ex-dividend date is Monday, November 10th. This represents a $2.12 dividend on an annualized basis and a yield of 5.1%. Sonoco Products’s dividend payout ratio is presently 37.99%.

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.