Sonoco Products (NYSE:SON) Reaches New 52-Week High Following Earnings Beat

Sonoco Products Company (NYSE:SON) shares reached a new 52-week high on Tuesday following a better than expected earnings announcement. The company traded as high as $57.27 and last traded at $57.1750, with a volume of 375892 shares changing hands. The stock had previously closed at $51.67.

The industrial products company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.04. The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.76 billion. Sonoco Products had a net margin of 8.82% and a return on equity of 20.49%. The business’s revenue was up 29.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.17 EPS. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS.

Sonoco Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 25th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Wednesday, February 25th. Sonoco Products’s payout ratio is presently 33.65%.

Analyst Ratings Changes

Several analysts have recently commented on SON shares. Weiss Ratings restated a “hold (c-)” rating on shares of Sonoco Products in a report on Wednesday, January 21st. Truist Financial increased their price objective on shares of Sonoco Products from $53.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Zacks Research raised shares of Sonoco Products from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. UBS Group increased their price target on shares of Sonoco Products from $44.00 to $48.00 and gave the company a “neutral” rating in a research note on Monday, January 12th. Finally, Bank of America upgraded shares of Sonoco Products from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $56.00 to $60.00 in a research report on Monday, January 5th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Sonoco Products has an average rating of “Hold” and an average target price of $54.86.

Institutional Trading of Sonoco Products

Several hedge funds have recently bought and sold shares of SON. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Sonoco Products by 44.3% in 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 purchasing an additional 15,079 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Sonoco Products by 80.8% in the first quarter. Goldman Sachs Group Inc. now owns 206,493 shares of the industrial products company’s stock valued at $9,755,000 after buying an additional 92,286 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Sonoco Products by 14.1% during the 1st quarter. Empowered Funds LLC now owns 11,058 shares of the industrial products company’s stock worth $522,000 after purchasing an additional 1,364 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake 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 valued at $25,754,000 after buying an additional 255,055 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in Sonoco Products by 122.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 9,665 shares of the industrial products company’s stock valued at $421,000 after purchasing an additional 5,320 shares during the last quarter. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Sonoco Products Stock Up 9.5%

The firm’s fifty day moving average is $46.69 and its 200 day moving average is $44.47. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.58 and a current ratio of 0.92. The firm has a market cap of $5.58 billion, a P/E ratio of 8.93, a P/E/G ratio of 0.80 and a beta of 0.54.

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.