BI Asset Management Fondsmaeglerselskab A S Buys Shares of 16,900 Sonoco Products Company $SON

Key Points

• BI Asset Management Fondsmaeglerselskab A S has acquired a new stake in Sonoco Products Company, purchasing 16,900 shares valued at approximately $798,000 during the first quarter.
• Sonoco Products reported Q2 earnings of $1.37 per share, missing the consensus estimate of $1.44, with revenues at $1.91 billion.
• The company announced a quarterly dividend of $0.53, resulting in a 4.5% yield and a dividend payout ratio of 37.99%.

BI Asset Management Fondsmaeglerselskab A S purchased a new position in Sonoco Products Company (NYSE:SON - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 16,900 shares of the industrial products company's stock, valued at approximately $798,000.

Other large investors also recently bought and sold shares of the company. Northern Trust Corp grew its position in Sonoco Products by 24.0% in the fourth quarter. Northern Trust Corp now owns 859,810 shares of the industrial products company's stock valued at $42,002,000 after acquiring an additional 166,552 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Sonoco Products in the 1st quarter valued at approximately $820,000. Principal Financial Group Inc. raised its position in shares of Sonoco Products by 0.5% in the 1st quarter. Principal Financial Group Inc. now owns 226,179 shares of the industrial products company's stock valued at $10,685,000 after purchasing an additional 1,044 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new position in shares of Sonoco Products in the 1st quarter valued at approximately $232,000. Finally, World Investment Advisors acquired a new position in shares of Sonoco Products in the 1st quarter valued at approximately $1,347,000. Institutional investors and hedge funds own 77.69% of the company's stock.

Sonoco Products Stock Performance

SON traded down $0.6350 during trading on Monday, reaching $46.9150. 664,887 shares of the company were exchanged, compared to its average volume of 891,727. Sonoco Products Company has a 52 week low of $39.46 and a 52 week high of $56.77. The stock has a market cap of $4.63 billion, a P/E ratio of 8.41, a PEG ratio of 0.64 and a beta of 0.69. The firm has a 50 day moving average of $45.76 and a 200 day moving average of $45.69. The company has a current ratio of 1.25, a quick ratio of 0.72 and a debt-to-equity ratio of 1.53.

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

Sonoco Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 8th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Friday, August 8th. Sonoco Products's dividend payout ratio is currently 37.99%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Raymond James Financial upped their target price on Sonoco Products from $50.00 to $55.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Truist Financial upped their target price on Sonoco Products from $53.00 to $58.00 and gave the company a "buy" rating in a research report on Friday, July 25th. UBS Group upped their target price on Sonoco Products from $48.00 to $50.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Wall Street Zen raised Sonoco Products from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company raised 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. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.63.

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.