Royal Bank of Canada Sells 173,955 Shares of Sonoco Products Company $SON

Royal Bank of Canada reduced its stake in Sonoco Products Company (NYSE:SON) by 17.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 809,742 shares of the industrial products company’s stock after selling 173,955 shares during the period. Royal Bank of Canada owned approximately 0.82% of Sonoco Products worth $43,800,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Bank of America increased their target price on Sonoco Products from $65.00 to $69.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Truist Financial boosted their price target on Sonoco Products from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Citigroup increased their price objective on Sonoco Products from $63.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Wall Street Zen lowered Sonoco Products from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, UBS Group lowered their target price on shares of Sonoco Products from $62.00 to $59.00 and set a “neutral” rating on the stock in a research note on Friday, April 10th. Five equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $61.78.

Sonoco Products Price Performance

NYSE SON opened at $56.45 on Monday. The company has a 50-day moving average price of $53.20 and a 200-day moving average price of $52.46. Sonoco Products Company has a 52 week low of $38.65 and a 52 week high of $60.67. The company has a quick ratio of 0.55, a current ratio of 0.99 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $5.58 billion, a P/E ratio of 8.97, a PEG ratio of 1.19 and a beta of 0.37.

Sonoco Products (NYSE:SON) last announced its earnings results on Wednesday, July 22nd. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the previous year, the business posted $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. Equities research analysts anticipate that Sonoco Products Company will post 5.8 earnings per share for the current year.

Sonoco Products Announces Dividend

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