Sonoco Products Company $SON Stake Increased by Comerica Bank

Comerica Bank increased its stake in Sonoco Products Company (NYSE:SON) by 178.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 127,075 shares of the industrial products company’s stock after acquiring an additional 81,467 shares during the quarter. Comerica Bank’s holdings in Sonoco Products were worth $5,546,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SON. AQR Capital Management LLC increased its stake in shares of Sonoco Products by 357.8% in the third quarter. AQR Capital Management LLC now owns 2,117,022 shares of the industrial products company’s stock worth $90,693,000 after buying an additional 1,654,576 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Sonoco Products by 10,238.5% in the fourth quarter. SG Americas Securities LLC now owns 728,138 shares of the industrial products company’s stock worth $31,776,000 after buying an additional 721,095 shares during the last quarter. LSV Asset Management increased its stake in shares of Sonoco Products by 105.6% in the third quarter. LSV Asset Management now owns 798,800 shares of the industrial products company’s stock worth $34,420,000 after buying an additional 410,200 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Sonoco Products in the second quarter worth $11,569,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Sonoco Products by 87.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 545,179 shares of the industrial products company’s stock worth $25,754,000 after buying an additional 255,055 shares during the last quarter. Institutional investors own 77.69% of the company’s stock.

Sonoco Products Price Performance

Shares of SON opened at $50.10 on Friday. Sonoco Products Company has a one year low of $38.65 and a one year high of $58.44. The stock’s fifty day moving average is $53.80 and its 200-day moving average is $47.65. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.54 and a current ratio of 0.96. The firm has a market capitalization of $4.95 billion, a price-to-earnings ratio of 4.91, a price-to-earnings-growth ratio of 1.05 and a beta of 0.40.

Sonoco Products (NYSE:SON) last announced its earnings results on Tuesday, April 21st. The industrial products company reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.37). Sonoco Products had a net margin of 13.57% and a return on equity of 16.50%. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the company earned $1.38 EPS. The business’s quarterly revenue was down 1.9% on a year-over-year basis. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. Equities analysts anticipate that Sonoco Products Company will post 5.81 EPS for the current year.

Sonoco Products Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 8th will be paid a dividend of $0.54 per share. This is a boost from Sonoco Products’s previous quarterly dividend of $0.53. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Friday, May 8th. Sonoco Products’s dividend payout ratio (DPR) is 20.78%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SON. Deutsche Bank Aktiengesellschaft started coverage on shares of Sonoco Products in a research note on Wednesday, April 1st. They issued a “buy” rating and a $63.00 price target for the company. Bank of America reiterated a “buy” rating on shares of Sonoco Products in a research note on Wednesday, April 22nd. Argus upgraded shares of Sonoco Products to a “hold” rating in a research note on Monday, April 20th. Citigroup lowered their target price on shares of Sonoco Products from $70.00 to $63.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Finally, Wells Fargo & Company lowered their target price on shares of Sonoco Products from $60.00 to $56.00 and set an “equal weight” rating for the company in a research note on Friday, March 20th. Five equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $60.11.

Insider Buying and Selling

In other news, insider James A. Harrell III bought 6,753 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The shares were purchased at an average price of $50.37 per share, with a total value of $340,148.61. Following the completion of the acquisition, the insider directly owned 10,070 shares in the company, valued at approximately $507,225.90. This trade represents a 203.59% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ernest D. Haynes III sold 1,581 shares of the stock in a transaction on Friday, February 27th. The shares were sold at an average price of $56.39, for a total value of $89,152.59. Following the transaction, the insider directly owned 9,377 shares of the company’s stock, valued at approximately $528,769.03. The trade was a 14.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.98% of the stock is owned by corporate insiders.

About Sonoco Products

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.