Legal & General Group Plc Invests $8.33 Million in Sonoco Products Company $SON

by · The Markets Daily

Legal & General Group Plc acquired a new stake in Sonoco Products Company (NYSE:SON – Free Report) in the second quarter, Holdings Channel.com reports. The firm acquired 147,802 shares of the industrial products company’s stock, valued at approximately $8,329,000.

Several other hedge funds also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Sonoco Products by 44.3% during the first 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 acquiring an additional 15,079 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in 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 purchasing an additional 92,286 shares in the last quarter. Empowered Funds LLC boosted its holdings in Sonoco Products by 14.1% in the 1st quarter. Empowered Funds LLC now owns 11,058 shares of the industrial products company’s stock valued at $522,000 after purchasing an additional 1,364 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Sonoco Products by 87.9% during the 1st 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 valued at $25,754,000 after purchasing an additional 255,055 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Sonoco Products by 315.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,587 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 1,205 shares in the last quarter. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Sonoco Products Price Performance

Shares of NYSE:SON opened at $54.14 on Wednesday. The stock has a market cap of $5.35 billion, a PE ratio of 8.61, a PEG ratio of 1.17 and a beta of 0.36. The company’s fifty day moving average is $56.65 and its 200 day moving average is $53.74. 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.

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

Sonoco Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 10th will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Monday, August 10th. Sonoco Products’s payout ratio is 34.34%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Weiss Ratings upgraded Sonoco Products from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 26th. Bank of America lifted their price target on Sonoco Products from $65.00 to $69.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Truist Financial boosted their price objective on Sonoco Products from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Finally, Citigroup raised their target price on shares of Sonoco Products from $63.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Sonoco Products has a consensus rating of “Moderate Buy” and a consensus target price of $61.78.

Check Out Our Latest Analysis on Sonoco Products

Sonoco Products Company Profile

(Free Report)

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.

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