Commerce Bank Invests $793,000 in Sonoco Products Company $SON

Commerce Bank purchased a new position in shares of Sonoco Products Company (NYSE:SON) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 14,074 shares of the industrial products company’s stock, valued at approximately $793,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. bought a new position in Sonoco Products in the 2nd quarter valued at $368,000. Evolve Private Wealth LLC acquired a new stake in shares of Sonoco Products in the second quarter valued at $832,000. Emerald Investment Advisers LLC bought a new position in shares of Sonoco Products in the second quarter valued at about $207,000. Landscape Capital Management L.L.C. acquired a new position in Sonoco Products during the 2nd quarter worth about $965,000. Finally, EP Wealth Advisors LLC acquired a new position in Sonoco Products during the 2nd quarter worth about $203,000. 77.69% of the stock is owned by institutional investors and hedge funds.

Sonoco Products Price Performance

Shares of SON stock opened at $57.48 on Thursday. The firm has a market cap of $5.68 billion, a price-to-earnings ratio of 9.14, a PEG ratio of 1.22 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 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 50-day moving average price of $56.25 and a 200 day moving average price of $53.62.

Sonoco Products (NYSE:SON) last released its earnings results on Wednesday, July 22nd. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.04. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.88 billion. Sonoco Products had a net margin of 8.41% and a return on equity of 16.50%. The company’s revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.37 EPS. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. Research analysts expect that Sonoco Products Company will post 5.8 EPS for the current year.

Sonoco Products Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SON shares. Bank of America raised their price objective on shares of Sonoco Products from $65.00 to $69.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Citigroup upped their target price on shares of Sonoco Products from $63.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Weiss Ratings raised 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 target on shares of Sonoco Products from $64.00 to $68.00 and gave the company a “buy” rating in a report on Friday, July 24th. Finally, Wall Street Zen cut shares of Sonoco Products from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Five analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $61.78.

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.