Meiji Yasuda Asset Management Co Ltd. Buys New Position in Sonoco Products Company $SON

Meiji Yasuda Asset Management Co Ltd. bought a new stake in Sonoco Products Company (NYSE:SON) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 237,880 shares of the industrial products company’s stock, valued at approximately $13,405,000.

Several other hedge funds also recently made changes to their positions in the business. Baker Ellis Asset Management LLC raised its holdings in shares of Sonoco Products by 3.9% in the first quarter. Baker Ellis Asset Management LLC now owns 5,307 shares of the industrial products company’s stock valued at $287,000 after purchasing an additional 201 shares during the last quarter. Powell Investment Advisors LLC boosted its holdings in Sonoco Products by 1.0% during the fourth quarter. Powell Investment Advisors LLC now owns 20,718 shares of the industrial products company’s stock worth $904,000 after purchasing an additional 203 shares during the last quarter. IFP Advisors Inc boosted its holdings in Sonoco Products by 8.6% during the fourth quarter. IFP Advisors Inc now owns 2,996 shares of the industrial products company’s stock worth $131,000 after purchasing an additional 237 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Sonoco Products by 11.2% in the first quarter. EverSource Wealth Advisors LLC now owns 2,476 shares of the industrial products company’s stock valued at $134,000 after purchasing an additional 249 shares in the last quarter. Finally, SBI Securities Co. Ltd. increased its stake in Sonoco Products by 77.7% in the 4th quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company’s stock valued at $26,000 after buying an additional 258 shares during the last quarter. 77.69% of the stock is owned by institutional investors.

Sonoco Products Stock Performance

NYSE SON opened at $59.51 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.55 and a debt-to-equity ratio of 0.97. The firm’s fifty day moving average price is $55.83 and its two-hundred day moving average price is $53.46. Sonoco Products Company has a 1 year low of $38.65 and a 1 year high of $60.67. The firm has a market capitalization of $5.88 billion, a P/E ratio of 9.46, a price-to-earnings-growth ratio of 1.26 and a beta of 0.37.

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

Sonoco Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 10th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Monday, August 10th. Sonoco Products’s payout ratio is 34.34%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SON shares. Citigroup boosted their price target on shares of Sonoco Products from $63.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Truist Financial lifted their target price on Sonoco Products from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Bank of America upped their target price on Sonoco Products from $65.00 to $69.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Wall Street Zen cut Sonoco Products from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings upgraded Sonoco Products from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 3rd. Five investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $61.78.

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.