Sonoco Products Company $SON Shares Purchased by Deutsche Bank AG

Key Points

• Deutsche Bank AG significantly increased its stake in Sonoco Products Company by 79.4%, owning 169,236 shares valued at approximately $7.99 million.
• Sonoco Products reported earnings per share of $1.37, missing estimates, while the company’s revenue increased 17.7% compared to the previous year.
• The company announced a quarterly dividend of $0.53, equating to an annualized yield of 4.6%, with a payout ratio of 37.99%.

Deutsche Bank AG boosted its stake in Sonoco Products Company (NYSE:SON - Free Report) by 79.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 169,236 shares of the industrial products company's stock after purchasing an additional 74,893 shares during the quarter. Deutsche Bank AG owned about 0.17% of Sonoco Products worth $7,995,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of SON. Bank of Montreal Can grew its holdings in Sonoco Products by 11.8% in the fourth quarter. Bank of Montreal Can now owns 17,119 shares of the industrial products company's stock valued at $836,000 after purchasing an additional 1,812 shares during the period. Renaissance Technologies LLC purchased a new stake in Sonoco Products in the fourth quarter valued at approximately $7,811,000. Raymond James Financial Inc. purchased a new stake in Sonoco Products in the fourth quarter valued at approximately $6,012,000. Treasurer of the State of North Carolina grew its holdings in Sonoco Products by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 43,056 shares of the industrial products company's stock valued at $2,103,000 after purchasing an additional 270 shares during the period. Finally, Barclays PLC grew its holdings in Sonoco Products by 7.2% in the fourth quarter. Barclays PLC now owns 101,684 shares of the industrial products company's stock valued at $4,967,000 after purchasing an additional 6,799 shares during the period. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Wells Fargo & Company upgraded shares of Sonoco Products from an "underweight" rating to an "overweight" rating and boosted their price objective for the stock from $45.00 to $55.00 in a research note on Friday, May 23rd. Truist Financial boosted their price objective on shares of Sonoco Products from $53.00 to $58.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Wall Street Zen upgraded shares of Sonoco Products from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. Raymond James Financial boosted their price objective on shares of Sonoco Products from $50.00 to $55.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Finally, UBS Group boosted their price objective on shares of Sonoco Products from $48.00 to $50.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Sonoco Products has an average rating of "Moderate Buy" and an average target price of $57.63.

Sonoco Products Stock Down 1.0%

Shares of SON stock traded down $0.4620 on Wednesday, hitting $45.9280. The stock had a trading volume of 730,383 shares, compared to its average volume of 1,041,970. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of 8.23, a P/E/G ratio of 0.62 and a beta of 0.69. The stock's 50 day moving average is $45.63 and its 200-day moving average is $45.73. 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 $56.77.

Sonoco Products (NYSE:SON - Get Free Report) last announced its 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). The firm had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.92 billion. Sonoco Products had a net margin of 8.35% and a return on equity of 20.46%. Sonoco Products's revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.28 earnings per share. Sonoco Products has set its FY 2025 guidance at 6.000-6.2 EPS. As a group, research analysts expect that Sonoco Products Company will post 6.1 earnings per share for the current year.

Sonoco Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 8th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $2.12 annualized dividend and a yield of 4.6%. 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.