Amundi Sells 28,784 Shares of Sonoco Products Company $SON

Key Points

• Amundi cut its Sonoco Products stake by 85.4% in the first quarter, selling 28,784 shares and retaining 4,905 shares valued at approximately $265,000. Institutional investors collectively own 77.69% of the company.
• Analyst sentiment remains mixed, with five Buy ratings and seven Hold ratings, resulting in a consensus Hold rating and an average price target of $61.78.
• Sonoco beat quarterly earnings estimates with $1.51 in EPS and $1.89 billion in revenue, while declaring a quarterly dividend of $0.54 per share, equivalent to a 3.7% annualized yield.

Amundi trimmed its position in shares of Sonoco Products Company (NYSE:SON - Free Report) by 85.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,905 shares of the industrial products company's stock after selling 28,784 shares during the quarter. Amundi's holdings in Sonoco Products were worth $265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its position in shares of Sonoco Products by 11.2% during 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. California State Teachers Retirement System grew its position in Sonoco Products by 25.2% in the 1st quarter. California State Teachers Retirement System now owns 113,753 shares of the industrial products company's stock worth $6,153,000 after purchasing an additional 22,919 shares in the last quarter. Empowered Funds LLC increased its stake in Sonoco Products by 131.3% in the 1st quarter. Empowered Funds LLC now owns 8,018 shares of the industrial products company's stock valued at $434,000 after buying an additional 4,552 shares during the last quarter. Quantinno Capital Management LP increased its stake in Sonoco Products by 13.7% in the 1st quarter. Quantinno Capital Management LP now owns 364,594 shares of the industrial products company's stock valued at $19,721,000 after buying an additional 43,908 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of Sonoco Products by 82.9% during the 1st quarter. Lazard Asset Management LLC now owns 73,033 shares of the industrial products company's stock worth $3,950,000 after buying an additional 33,109 shares in the last quarter. Hedge funds and other institutional investors own 77.69% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wall Street Zen lowered Sonoco Products from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Robert W. Baird dropped their price target on Sonoco Products from $60.00 to $55.00 and set a "neutral" rating on the stock in a report on Thursday, April 23rd. Truist Financial boosted their price objective on Sonoco Products from $64.00 to $68.00 and gave the stock a "buy" rating in a research report on Friday, July 24th. Bank of America upped their price objective on Sonoco Products from $65.00 to $69.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Finally, Weiss Ratings raised Sonoco Products from a "hold (c)" rating to a "hold (c+)" rating in a research report 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 has a consensus rating of "Hold" and a consensus price target of $61.78.

Sonoco Products Stock Up 0.4%

Sonoco Products stock opened at $58.31 on Friday. The firm has a 50 day moving average price of $54.78 and a 200-day moving average price of $53.05. The company has a quick ratio of 0.55, a current ratio of 0.99 and a debt-to-equity ratio of 0.97. Sonoco Products Company has a twelve month low of $38.65 and a twelve month high of $60.67. The company has a market capitalization of $5.77 billion, a P/E ratio of 9.27, a P/E/G ratio of 1.23 and a beta of 0.37.

Sonoco Products (NYSE:SON - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.04. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.88 billion. Sonoco Products had a return on equity of 16.50% and a net margin of 8.41%.Sonoco Products's revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.37 earnings per share. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. As a group, equities analysts predict that Sonoco Products Company will post 5.8 EPS for the current year.

Sonoco Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 10th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $2.16 annualized dividend and a yield of 3.7%. Sonoco Products's dividend payout ratio is 34.34%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source