Heartland Advisors Inc. Buys New Holdings in Sonoco Products Company $SON

Heartland Advisors Inc. purchased a new position in Sonoco Products Company (NYSE:SON) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 150,000 shares of the industrial products company’s stock, valued at approximately $8,452,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SON. SBI Securities Co. Ltd. grew its holdings in Sonoco Products by 77.7% during the 4th quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company’s stock valued at $26,000 after buying an additional 258 shares in the last quarter. WPG Advisers LLC boosted its position in shares of Sonoco Products by 93.1% during the first quarter. WPG Advisers LLC now owns 612 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 295 shares during the last quarter. LRI Investments LLC bought a new position in shares of Sonoco Products during the fourth quarter worth $29,000. Larson Financial Group LLC grew its stake in Sonoco Products by 1,826.9% during the third quarter. Larson Financial Group LLC now owns 1,002 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 950 shares in the last quarter. Finally, Cullen Frost Bankers Inc. bought a new stake in Sonoco Products in the 4th quarter valued at $47,000. 77.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on SON shares. Weiss Ratings upgraded shares of Sonoco Products from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 3rd. Truist Financial raised their price objective on Sonoco Products from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Citigroup lifted their target price on Sonoco Products from $63.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Bank of America increased their price target on Sonoco Products from $65.00 to $69.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Finally, Wall Street Zen downgraded Sonoco Products from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Five investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $61.78.

Sonoco Products Stock Performance

Shares of NYSE:SON opened at $59.51 on Friday. The company has a market capitalization of $5.88 billion, a price-to-earnings ratio of 9.46, a PEG ratio of 1.23 and a beta of 0.37. Sonoco Products Company has a 12 month low of $38.65 and a 12 month high of $60.67. The firm’s 50-day moving average is $55.83 and its 200 day moving average is $53.43. The company has a current ratio of 0.99, a quick ratio of 0.55 and a debt-to-equity ratio of 0.97.

Sonoco Products (NYSE:SON) last announced 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. Sonoco Products had a net margin of 8.41% and a return on equity of 16.50%. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter last year, the firm earned $1.37 earnings per share. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. Research analysts predict that Sonoco Products Company will post 5.8 EPS for the current year.

Sonoco Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, August 10th. Sonoco Products’s dividend payout ratio (DPR) is currently 34.34%.

Sonoco Products Company 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.