Connor Clark & Lunn Investment Management Ltd. Takes Position in Sonoco Products Company $SON

Connor Clark & Lunn Investment Management Ltd. bought a new position in Sonoco Products Company (NYSE:SON) during the second quarter, Holdings Channel reports. The firm bought 85,404 shares of the industrial products company’s stock, valued at approximately $4,813,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SON. Meiji Yasuda Asset Management Co Ltd. purchased a new position in Sonoco Products during the 2nd quarter valued at approximately $13,405,000. Hudson Portfolio Management LLC purchased a new stake in shares of Sonoco Products during the 2nd quarter worth approximately $468,000. Compass Financial Management LLC purchased a new stake in shares of Sonoco Products during the 2nd quarter worth approximately $186,000. Commerce Bank bought a new position in shares of Sonoco Products during the 2nd quarter valued at approximately $793,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in shares of Sonoco Products during the 2nd quarter valued at approximately $368,000. 77.69% of the stock is owned by institutional investors.

Sonoco Products Price Performance

NYSE:SON opened at $56.71 on Friday. The firm has a market capitalization of $5.61 billion, a price-to-earnings ratio of 9.02, a PEG ratio of 1.22 and a beta of 0.37. Sonoco Products Company has a 1 year low of $38.65 and a 1 year high of $60.67. The business has a 50 day simple moving average of $56.37 and a 200-day simple moving average of $53.65. 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 earnings results on Wednesday, July 22nd. The industrial products company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.04. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.88 billion. Sonoco Products had a return on equity of 16.50% and a net margin of 8.41%.The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.37 EPS. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. Equities analysts forecast that Sonoco Products Company will post 5.8 EPS for the current year.

Sonoco Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 10th will be paid a $0.54 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $2.16 annualized dividend and a dividend yield of 3.8%. Sonoco Products’s dividend payout ratio is currently 34.34%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SON. Wall Street Zen lowered shares of Sonoco Products from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Bank of America upped their price target on shares of Sonoco Products from $65.00 to $69.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Weiss Ratings upgraded shares of Sonoco Products from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday. Citigroup lifted their price objective on shares of Sonoco Products from $63.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Finally, Truist Financial boosted their target price on shares of Sonoco Products from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.78.

Sonoco Products 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.