Bank of New York Mellon Corp Has $60.41 Million Stock Position in Sonoco Products Company $SON

Bank of New York Mellon Corp increased its stake in Sonoco Products Company (NYSE:SON) by 1.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,116,918 shares of the industrial products company’s stock after purchasing an additional 12,185 shares during the quarter. Bank of New York Mellon Corp’s holdings in Sonoco Products were worth $60,414,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Maryland State Retirement & Pension System acquired a new position in shares of Sonoco Products in the first quarter worth about $248,000. State of Michigan Retirement System raised its holdings in shares of Sonoco Products by 1.7% during the first quarter. State of Michigan Retirement System now owns 23,751 shares of the industrial products company’s stock valued at $1,285,000 after acquiring an additional 400 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Sonoco Products by 3.8% during the first quarter. Principal Financial Group Inc. now owns 220,166 shares of the industrial products company’s stock valued at $11,909,000 after acquiring an additional 8,039 shares during the period. Chicago Partners Investment Group LLC lifted its position in shares of Sonoco Products by 6.7% in the 1st quarter. Chicago Partners Investment Group LLC now owns 6,062 shares of the industrial products company’s stock valued at $328,000 after acquiring an additional 381 shares in the last quarter. Finally, Anchor Investment Management LLC lifted its position in shares of Sonoco Products by 9.9% in the 1st quarter. Anchor Investment Management LLC now owns 46,511 shares of the industrial products company’s stock valued at $2,516,000 after acquiring an additional 4,179 shares in the last quarter. 77.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Argus upgraded shares of Sonoco Products to a “hold” rating in a research report on Monday, April 20th. Deutsche Bank Aktiengesellschaft began coverage on Sonoco Products in a research report on Wednesday, April 1st. They issued a “buy” rating and a $63.00 target price for the company. Robert W. Baird lowered their price target on Sonoco Products from $60.00 to $55.00 and set a “neutral” rating on the stock in a report on Thursday, April 23rd. Citigroup upped their price target on Sonoco Products from $63.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Finally, Weiss Ratings lowered Sonoco Products from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday. Five analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $61.33.

Insider Transactions at Sonoco Products

In related news, CFO Paul Joachimczyk bought 8,058 shares of the firm’s stock in a transaction on Friday, April 24th. The stock was purchased at an average price of $49.64 per share, with a total value of $399,999.12. Following the completion of the transaction, the chief financial officer directly owned 28,558 shares of the company’s stock, valued at $1,417,619.12. This trade represents a 39.31% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider James A. Harrell III purchased 6,753 shares of the company’s stock in a transaction dated Monday, April 27th. The stock was purchased at an average cost of $50.37 per share, for a total transaction of $340,148.61. Following the transaction, the insider owned 10,070 shares of the company’s stock, valued at approximately $507,225.90. This trade represents a 203.59% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.98% of the company’s stock.

Sonoco Products Trading Up 0.9%

Shares of NYSE:SON opened at $55.18 on Thursday. The firm has a fifty day moving average of $51.79 and a two-hundred day moving average of $51.88. Sonoco Products Company has a 12-month low of $38.65 and a 12-month high of $58.44. The firm has a market capitalization of $5.46 billion, a P/E ratio of 5.41, a price-to-earnings-growth ratio of 1.19 and a beta of 0.37. 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 results on Wednesday, July 22nd. The industrial products company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.04. The business 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 13.57% and a return on equity of 16.50%. Sonoco Products’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.37 EPS. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. On average, equities analysts expect that Sonoco Products Company will post 5.79 EPS for the current fiscal year.

Sonoco Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 10th will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Monday, August 10th. Sonoco Products’s dividend payout ratio is 21.18%.

Sonoco Products Company 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.