5,920 Shares in Sonoco Products Company $SON Purchased by United Services Automobile Association

Key Points

• United Services Automobile Association acquired 5,920 shares of Sonoco Products Company, valued at approximately $276,000, in the first quarter.
• Sonoco Products recently announced a quarterly dividend of $0.53, representing an annualized yield of 4.4%.
• Analysts have a consensus rating of Moderate Buy for Sonoco, with an average target price of $57.63 following several target price increases from major firms.

United Services Automobile Association purchased a new position in Sonoco Products Company (NYSE:SON - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 5,920 shares of the industrial products company's stock, valued at approximately $276,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. increased its stake in Sonoco Products by 60.7% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 202,409 shares of the industrial products company's stock valued at $9,562,000 after purchasing an additional 76,437 shares in the last quarter. Goldman Sachs Group Inc. increased 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 valued at $9,755,000 after purchasing an additional 92,286 shares in the last quarter. UniSuper Management Pty Ltd bought a new stake in Sonoco Products during the 1st quarter valued at about $864,000. PharVision Advisers LLC increased its stake in Sonoco Products by 16.2% during the 1st quarter. PharVision Advisers LLC now owns 4,772 shares of the industrial products company's stock valued at $225,000 after purchasing an additional 666 shares in the last quarter. Finally, Mork Capital Management LLC bought a new stake in Sonoco Products during the 1st quarter valued at about $945,000. 77.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Sonoco Products Price Performance

Shares of Sonoco Products stock traded down $0.30 on Thursday, hitting $47.09. 169,519 shares of the company traded hands, compared to its average volume of 866,191. The stock has a market capitalization of $4.64 billion, a P/E ratio of 8.44, a price-to-earnings-growth ratio of 0.63 and a beta of 0.70. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.72 and a current ratio of 1.25. Sonoco Products Company has a 52 week low of $39.46 and a 52 week high of $56.00. The business has a 50-day simple moving average of $46.41 and a 200 day simple moving average of $45.65.

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

Sonoco Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Friday, August 8th. Sonoco Products's payout ratio is presently 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.