WBI Investments LLC Buys New Holdings in Sonoco Products Company $SON

WBI Investments LLC bought a new stake in Sonoco Products Company (NYSE:SON) in the first quarter, Holdings Channel reports. The institutional investor bought 39,894 shares of the industrial products company’s stock, valued at approximately $1,885,000.

A number of other large investors have also modified their holdings of SON. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Sonoco Products by 508.1% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 900 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 752 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Sonoco Products by 152.7% in 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. Allworth Financial LP raised its stake in shares of Sonoco Products by 152.0% in the first quarter. Allworth Financial LP now owns 1,071 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 646 shares in the last quarter. Quarry LP raised its stake in shares of Sonoco Products by 56.5% in the first quarter. Quarry LP now owns 1,518 shares of the industrial products company’s stock valued at $72,000 after purchasing an additional 548 shares in the last quarter. Finally, Versant Capital Management Inc grew its position in Sonoco Products by 474.8% in the first quarter. Versant Capital Management Inc now owns 2,299 shares of the industrial products company’s stock valued at $109,000 after acquiring an additional 1,899 shares during the period. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Sonoco Products Stock Up 0.7%

Shares of NYSE SON opened at $46.03 on Thursday. Sonoco Products Company has a 12-month low of $39.46 and a 12-month high of $56.36. The firm’s 50-day simple moving average is $46.32 and its 200 day simple moving average is $45.63. The company has a quick ratio of 0.72, a current ratio of 1.25 and a debt-to-equity ratio of 1.53. The company has a market cap of $4.54 billion, a price-to-earnings ratio of 8.25, a price-to-earnings-growth ratio of 0.61 and a beta of 0.70.

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

Sonoco Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $2.12 dividend on an annualized basis and a yield of 4.6%. Sonoco Products’s dividend payout ratio is currently 37.99%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SON shares. UBS Group upped their price target on Sonoco Products from $48.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Raymond James Financial upped their price target on Sonoco Products from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Tuesday, July 15th. Wells Fargo & Company upgraded Sonoco Products from an “underweight” rating to an “overweight” rating and upped their price target for the company from $45.00 to $55.00 in a research report on Friday, May 23rd. Finally, Truist Financial upped their price target on Sonoco Products from $53.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Sonoco Products currently has an average rating of “Moderate Buy” and a consensus target price of $57.63.

Sonoco Products Profile

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.