Argyle Capital Management LLC Has $1.42 Million Holdings in Sonoco Products Company $SON

Argyle Capital Management LLC lowered its position in shares of Sonoco Products Company (NYSE:SON) by 2.1% during the second quarter, Holdings Channel reports. The fund owned 32,558 shares of the industrial products company’s stock after selling 700 shares during the quarter. Argyle Capital Management LLC’s holdings in Sonoco Products were worth $1,418,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. UMB Bank n.a. grew its position in Sonoco Products by 152.7% during the first quarter. UMB Bank n.a. now owns 950 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 574 shares in the last quarter. Farther Finance Advisors LLC grew its position in Sonoco Products by 65.6% during the first quarter. Farther Finance Advisors LLC now owns 3,082 shares of the industrial products company’s stock valued at $148,000 after purchasing an additional 1,221 shares in the last quarter. Sound Income Strategies LLC grew its position in Sonoco Products by 19.7% during the first quarter. Sound Income Strategies LLC now owns 333,566 shares of the industrial products company’s stock valued at $15,758,000 after purchasing an additional 54,837 shares in the last quarter. Pinion Investment Advisors LLC grew its position in Sonoco Products by 161.5% during the first quarter. Pinion Investment Advisors LLC now owns 28,456 shares of the industrial products company’s stock valued at $1,344,000 after purchasing an additional 17,574 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its position in Sonoco Products by 29.8% during the first quarter. Janney Montgomery Scott LLC now owns 23,004 shares of the industrial products company’s stock valued at $1,087,000 after purchasing an additional 5,278 shares in the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SON. UBS Group lowered their price objective on shares of Sonoco Products from $50.00 to $46.00 and set a “neutral” rating on the stock in a research report on Monday. Citigroup decreased their target price on shares of Sonoco Products from $56.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, September 29th. Bank of America reissued a “neutral” rating and issued a $56.00 target price on shares of Sonoco Products in a research report on Thursday. Truist Financial boosted their target price on shares of Sonoco Products from $53.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Finally, Raymond James Financial boosted their target price on shares of Sonoco Products from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.25.

Sonoco Products Price Performance

NYSE SON opened at $40.41 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.72 and a debt-to-equity ratio of 1.53. The company has a fifty day simple moving average of $45.48 and a 200 day simple moving average of $45.32. The company has a market cap of $3.99 billion, a P/E ratio of 7.24, a P/E/G ratio of 0.57 and a beta of 0.68. Sonoco Products Company has a 1 year low of $39.46 and a 1 year high of $55.33.

Sonoco Products (NYSE:SON) last posted its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.07). The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.92 billion. Sonoco Products had a return on equity of 20.46% and a net margin of 8.35%.Sonoco Products’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.28 earnings per share. Sonoco Products has set its FY 2025 guidance at 6.000-6.2 EPS. On average, sell-side analysts predict that Sonoco Products Company will post 6.1 EPS for the current year.

Sonoco Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend was Friday, August 8th. Sonoco Products’s dividend payout ratio is currently 37.99%.

About Sonoco Products

Sonoco Products Company, together with its subsidiaries, designs, develops, manufactures, and sells various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates Consumer Packaging and Industrial Paper Packaging segments. The Consumer Packaging segment offers round and shaped rigid paper, steel, and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays and enclosures; and high-barrier flexible packaging products.