Wellington Management Group LLP Buys 88,341 Shares of Sonoco Products Company $SON

Wellington Management Group LLP raised its stake in Sonoco Products Company (NYSE:SON) by 26.0% during the second quarter, Holdings Channel reports. The fund owned 428,387 shares of the industrial products company’s stock after buying an additional 88,341 shares during the period. Wellington Management Group LLP’s holdings in Sonoco Products were worth $24,140,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Sonoco Products in the second quarter valued at $657,016,000. Fuller & Thaler Asset Management Inc. grew its stake in shares of Sonoco Products by 477.8% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,901,950 shares of the industrial products company’s stock worth $257,561,000 after acquiring an additional 4,880,438 shares during the period. State Street Corp increased its holdings in Sonoco Products by 0.3% in the 2nd quarter. State Street Corp now owns 4,470,449 shares of the industrial products company’s stock worth $194,733,000 after acquiring an additional 13,161 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Sonoco Products by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,931,180 shares of the industrial products company’s stock worth $212,632,000 after acquiring an additional 32,810 shares during the last quarter. Finally, Bank of America Corp DE bought a new stake in Sonoco Products in the 2nd quarter valued at about $204,968,000. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Weiss Ratings upgraded shares of Sonoco Products from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 26th. Bank of America cut shares of Sonoco Products from a “buy” rating to a “neutral” rating and dropped their price target for the company from $69.00 to $60.00 in a research note on Thursday. Truist Financial raised their price objective 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. Finally, Citigroup boosted their target price on shares of Sonoco Products from $63.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Five analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Sonoco Products has a consensus rating of “Hold” and a consensus price target of $60.78.

Sonoco Products Stock Down 1.4%

SON opened at $51.95 on Friday. The business’s fifty day simple moving average is $56.58 and its 200 day simple moving average is $53.76. 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 stock has a market cap of $5.14 billion, a PE ratio of 8.26, a P/E/G ratio of 1.21 and a beta of 0.36.

Sonoco Products (NYSE:SON) last issued its quarterly earnings results 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. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates 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 was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.37 earnings per share. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. As a group, research analysts expect that Sonoco Products Company will post 5.78 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 Thursday, September 10th. Stockholders of record on Monday, August 10th will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Monday, August 10th. Sonoco Products’s payout ratio is presently 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.