American Century Companies Inc. Has $4.70 Million Holdings in Sonoco Products Company $SON

Key Points

• American Century Companies Inc. has reduced its stake in Sonoco Products Company by 35.6%, selling 54,925 shares during the 1st quarter, leaving them with a total of 99,386 shares worth approximately $4.7 million.
• Sonoco Products reported quarterly earnings of $1.37 per share, missing analysts' expectations of $1.44, while revenues increased by 17.7% year-over-year but fell short of estimates.
• The company recently announced a quarterly dividend of $0.53 per share, with an annualized dividend yield of 4.5%, and set its FY 2025 earnings guidance between $6.00 and $6.20 per share.

American Century Companies Inc. lowered its stake in Sonoco Products Company (NYSE:SON - Free Report) by 35.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 99,386 shares of the industrial products company's stock after selling 54,925 shares during the quarter. American Century Companies Inc. owned approximately 0.10% of Sonoco Products worth $4,695,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Northern Trust Corp lifted its holdings in shares of Sonoco Products by 24.0% in the fourth quarter. Northern Trust Corp now owns 859,810 shares of the industrial products company's stock worth $42,002,000 after acquiring an additional 166,552 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Sonoco Products in the first quarter worth about $820,000. Principal Financial Group Inc. lifted its holdings in shares of Sonoco Products by 0.5% in the first quarter. Principal Financial Group Inc. now owns 226,179 shares of the industrial products company's stock worth $10,685,000 after acquiring an additional 1,044 shares during the last quarter. OneDigital Investment Advisors LLC bought a new position in shares of Sonoco Products in the first quarter worth about $232,000. Finally, World Investment Advisors bought a new position in shares of Sonoco Products in the first quarter worth about $1,347,000. Institutional investors own 77.69% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on SON shares. Wells Fargo & Company raised shares of Sonoco Products from an "underweight" rating to an "overweight" rating and increased their target price for the stock from $45.00 to $55.00 in a report on Friday, May 23rd. Raymond James Financial increased their target price on shares of Sonoco Products from $50.00 to $55.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. 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 report on Friday, July 25th. Wall Street Zen upgraded shares of Sonoco Products from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, UBS Group raised their price objective 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. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, Sonoco Products has an average rating of "Moderate Buy" and an average price target of $57.63.

Sonoco Products Trading Down 0.8%

NYSE SON traded down $0.36 during trading hours on Thursday, reaching $45.58. The company's stock had a trading volume of 48,963 shares, compared to its average volume of 855,118. The stock has a market cap of $4.50 billion, a P/E ratio of 8.17, a P/E/G ratio of 0.64 and a beta of 0.70. The firm has a fifty day simple moving average of $46.20 and a 200-day simple moving average of $45.67. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.25 and a quick ratio of 0.72. Sonoco Products Company has a 52 week low of $39.46 and a 52 week high of $56.66.

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

Sonoco Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Friday, August 8th. Sonoco Products's dividend payout ratio is currently 37.99%.

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.