Envestnet Portfolio Solutions Inc. Makes New Investment in Sonoco Products Company $SON

Envestnet Portfolio Solutions Inc. bought a new position in shares of Sonoco Products Company (NYSE:SON) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 19,860 shares of the industrial products company’s stock, valued at approximately $867,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. TD Private Client Wealth LLC raised its holdings in shares of Sonoco Products by 199.7% during the fourth quarter. TD Private Client Wealth LLC now owns 1,804 shares of the industrial products company’s stock worth $79,000 after purchasing an additional 1,202 shares during the period. AlphaCore Capital LLC raised its holdings in shares of Sonoco Products by 100.8% during the fourth quarter. AlphaCore Capital LLC now owns 15,370 shares of the industrial products company’s stock worth $671,000 after purchasing an additional 7,715 shares during the period. Allworth Financial LP raised its holdings in shares of Sonoco Products by 49.4% during the fourth quarter. Allworth Financial LP now owns 2,996 shares of the industrial products company’s stock worth $131,000 after purchasing an additional 991 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in shares of Sonoco Products by 9.8% during the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 67,400 shares of the industrial products company’s stock worth $2,941,000 after purchasing an additional 6,000 shares during the period. Finally, LRI Investments LLC acquired a new stake in shares of Sonoco Products during the fourth quarter worth $29,000. 77.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SON has been the subject of several recent research reports. Wall Street Zen lowered shares of Sonoco Products from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Truist Financial restated a “buy” rating and set a $65.00 price target (down from $68.00) on shares of Sonoco Products in a research report on Tuesday, April 28th. Robert W. Baird lowered their price target on shares of Sonoco Products from $60.00 to $55.00 and set a “neutral” rating for the company in a research report on Thursday, April 23rd. Argus upgraded shares of Sonoco Products to a “hold” rating in a research report on Monday, April 20th. Finally, Citigroup lowered their price target on shares of Sonoco Products from $70.00 to $63.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. Five analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Sonoco Products presently has a consensus rating of “Hold” and an average target price of $60.11.

Sonoco Products Stock Performance

Shares of SON opened at $49.38 on Monday. The firm has a 50-day moving average price of $52.21 and a 200 day moving average price of $48.67. The firm has a market capitalization of $4.88 billion, a PE ratio of 4.84, a P/E/G ratio of 1.04 and a beta of 0.40. The company has a quick ratio of 0.54, a current ratio of 0.96 and a debt-to-equity ratio of 0.97. Sonoco Products Company has a 52-week low of $38.65 and a 52-week high of $58.44.

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). The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.88 billion. Sonoco Products had a net margin of 13.57% and a return on equity of 16.50%. The business’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.38 EPS. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. On average, sell-side analysts anticipate that Sonoco Products Company will post 5.81 earnings per share for the current fiscal year.

Sonoco Products Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 8th will be given a $0.54 dividend. The ex-dividend date is Friday, May 8th. This represents a $2.16 dividend on an annualized basis and a yield of 4.4%. This is a boost from Sonoco Products’s previous quarterly dividend of $0.53. Sonoco Products’s payout ratio is currently 21.18%.

Insider Activity at Sonoco Products

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

Sonoco Products 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.