Elevated Capital Advisors LLC Cuts Position in Sonoco Products Company $SON

Elevated Capital Advisors LLC cut its holdings in Sonoco Products Company (NYSE:SON) by 94.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 844 shares of the industrial products company’s stock after selling 13,359 shares during the period. Elevated Capital Advisors LLC’s holdings in Sonoco Products were worth $46,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of SON. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Sonoco Products by 44.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,093 shares of the industrial products company’s stock valued at $2,319,000 after purchasing an additional 15,079 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Sonoco Products by 80.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 206,493 shares of the industrial products company’s stock worth $9,755,000 after buying an additional 92,286 shares during the last quarter. Empowered Funds LLC grew its position in Sonoco Products by 14.1% during the first quarter. Empowered Funds LLC now owns 11,058 shares of the industrial products company’s stock valued at $522,000 after buying an additional 1,364 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in 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 acquiring an additional 255,055 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in Sonoco Products by 315.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,587 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 1,205 shares during the last quarter. 77.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SON has been the subject of several research analyst reports. Wall Street Zen lowered shares of Sonoco Products from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Weiss Ratings upgraded Sonoco Products from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, June 29th. Truist Financial reissued a “buy” rating and issued a $65.00 target price (down from $68.00) on shares of Sonoco Products in a research report on Tuesday, April 28th. Citigroup boosted their target price on Sonoco Products from $63.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Robert W. Baird dropped their price target on Sonoco Products from $60.00 to $55.00 and set a “neutral” rating on the stock in a research report on Thursday, April 23rd. Five investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $60.44.

Insider Activity at Sonoco Products

In related news, insider James A. Harrell III bought 6,753 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The stock was bought at an average cost of $50.37 per share, for a total transaction of $340,148.61. Following the completion of the transaction, the insider owned 10,070 shares of the company’s stock, valued at approximately $507,225.90. The trade was a 203.59% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Paul Joachimczyk acquired 8,058 shares of Sonoco Products stock in a transaction dated Friday, April 24th. The shares were bought at an average cost of $49.64 per share, for a total transaction of $399,999.12. Following the completion of the purchase, the chief financial officer directly owned 28,558 shares of the company’s stock, valued at approximately $1,417,619.12. The trade was a 39.31% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.98% of the stock is currently owned by corporate insiders.

Sonoco Products Stock Performance

SON traded up $0.89 on Friday, hitting $55.95. The company’s stock had a trading volume of 761,115 shares, compared to its average volume of 1,144,735. The company’s 50 day simple moving average is $51.18 and its 200-day simple moving average is $51.19. The firm has a market cap of $5.53 billion, a P/E ratio of 5.49, a price-to-earnings-growth ratio of 1.17 and a beta of 0.37. Sonoco Products Company has a 12 month low of $38.65 and a 12 month high of $58.44. 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 (NYSE:SON) last released its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $1.20 earnings per share 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 business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the prior year, the firm posted $1.38 earnings per share. The firm’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. Analysts forecast that Sonoco Products Company will post 5.81 EPS for the current year.

Sonoco Products Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 8th were paid a dividend of $0.54 per share. This is a positive change from Sonoco Products’s previous quarterly dividend of $0.53. This represents a $2.16 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Friday, May 8th. Sonoco Products’s dividend payout ratio is 21.18%.

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.