Lazard Asset Management LLC Has $3.95 Million Stock Holdings in Sonoco Products Company $SON

Lazard Asset Management LLC lifted its holdings in shares of Sonoco Products Company (NYSE:SON) by 82.9% during the 1st quarter, Holdings Channel reports. The firm owned 73,033 shares of the industrial products company’s stock after purchasing an additional 33,109 shares during the quarter. Lazard Asset Management LLC’s holdings in Sonoco Products were worth $3,950,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Sonoco Products by 44.3% in 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 buying an additional 15,079 shares during the period. Goldman Sachs Group Inc. raised its stake in Sonoco Products by 80.8% during 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 period. Empowered Funds LLC boosted its holdings in Sonoco Products by 14.1% in the first quarter. Empowered Funds LLC now owns 11,058 shares of the industrial products company’s stock worth $522,000 after acquiring an additional 1,364 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings 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 in the last quarter. Finally, EverSource Wealth Advisors LLC grew 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 period. Institutional investors and hedge funds own 77.69% of the company’s stock.

Sonoco Products Stock Performance

Shares of SON opened at $56.45 on Friday. The firm has a market capitalization of $5.58 billion, a P/E ratio of 8.97, a P/E/G ratio of 1.20 and a beta of 0.37. Sonoco Products Company has a 52 week low of $38.65 and a 52 week high of $60.67. The stock has a 50 day moving average price of $53.20 and a two-hundred day moving average price of $52.42. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.55 and a current ratio of 0.99.

Sonoco Products (NYSE:SON) last posted its 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 company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.88 billion. Sonoco Products had a return on equity of 16.50% and a net margin of 8.41%.The company’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter last year, the company earned $1.37 earnings per share. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. Equities analysts forecast that Sonoco Products Company will post 5.8 earnings per share for the current fiscal year.

Sonoco Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 10th will be paid a dividend of $0.54 per share. The ex-dividend date is Monday, August 10th. This represents a $2.16 annualized dividend and a yield of 3.8%. Sonoco Products’s dividend payout ratio (DPR) is 34.34%.

Analyst Ratings Changes

Several equities research analysts have recently commented on SON shares. Citigroup boosted their price objective on Sonoco Products from $63.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, July 9th. UBS Group reduced their price target on shares of Sonoco Products from $62.00 to $59.00 and set a “neutral” rating for the company in a research report on Friday, April 10th. Bank of America boosted their price target on shares of Sonoco Products from $65.00 to $69.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Wall Street Zen downgraded shares of Sonoco Products from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Weiss Ratings lowered shares of Sonoco Products from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, July 20th. 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, the company has an average rating of “Hold” and an average price target of $61.78.

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.