EVR Research LP Grows Stock Holdings in Sonoco Products Company $SON

Key Points

• EVR Research LP boosted its stake in Sonoco Products by 340% in the fourth quarter, buying 170,000 additional shares to bring its total to 220,000 shares. The position was worth about $9.6 million and made up roughly 5.2% of the fund’s portfolio.
• Sonoco Products reported weaker-than-expected quarterly results, with EPS of $1.20 versus the $1.57 consensus and revenue of $1.68 billion versus $1.88 billion expected. The company also said revenue fell 1.9% year over year.
• The company raised its quarterly dividend to $0.54 per share, equal to a 4.3% annualized yield, while insider buying continued with notable purchases by the CFO and another executive. Analysts currently rate the stock a consensus Hold with a $60.11 price target.

EVR Research LP increased its stake in shares of Sonoco Products Company (NYSE:SON - Free Report) by 340.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 220,000 shares of the industrial products company's stock after purchasing an additional 170,000 shares during the quarter. Sonoco Products comprises about 5.2% of EVR Research LP's portfolio, making the stock its 6th biggest position. EVR Research LP owned 0.22% of Sonoco Products worth $9,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. lifted its holdings in Sonoco Products by 77.7% in the fourth quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company's stock valued at $26,000 after buying an additional 258 shares during the period. LRI Investments LLC acquired a new position in Sonoco Products in the fourth quarter valued at approximately $29,000. Ameriflex Group Inc. lifted its holdings in Sonoco Products by 1,263.6% in the third quarter. Ameriflex Group Inc. now owns 900 shares of the industrial products company's stock valued at $39,000 after buying an additional 834 shares during the period. Larson Financial Group LLC lifted its holdings in Sonoco Products by 1,826.9% in the third quarter. Larson Financial Group LLC now owns 1,002 shares of the industrial products company's stock valued at $43,000 after buying an additional 950 shares during the period. Finally, Cullen Frost Bankers Inc. acquired a new position in Sonoco Products in the fourth quarter valued at approximately $47,000. 77.69% of the stock is owned by institutional investors.

Sonoco Products Trading Down 1.1%

SON opened at $50.65 on Thursday. The firm's fifty day moving average is $50.79 and its two-hundred day moving average is $49.76. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.54 and a current ratio of 0.96. The firm has a market cap of $5.01 billion, a PE ratio of 4.97, a price-to-earnings-growth ratio of 1.07 and a beta of 0.39. Sonoco Products Company has a twelve month low of $38.65 and a twelve month high of $58.44.

Sonoco Products (NYSE:SON - Get Free Report) last posted its earnings results on Tuesday, April 21st. The industrial products company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.37). The firm had revenue of $1.68 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 13.57%.The company's revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter last year, the business posted $1.38 earnings per share. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. Equities research analysts anticipate that Sonoco Products Company will post 5.81 EPS for the current year.

Sonoco Products Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 4.3%. This is a boost from Sonoco Products's previous quarterly dividend of $0.53. The ex-dividend date was Friday, May 8th. Sonoco Products's dividend payout ratio (DPR) is 21.18%.

Insider Buying and Selling at Sonoco Products

In other news, CFO Paul Joachimczyk bought 8,058 shares of the business's stock in a transaction on Friday, April 24th. The shares were bought at an average cost of $49.64 per share, for a total transaction of $399,999.12. Following the completion of the acquisition, the chief financial officer owned 28,558 shares in the company, valued at approximately $1,417,619.12. This trade represents a 39.31% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James A. Harrell III bought 6,753 shares of the business's stock in a transaction on Monday, April 27th. The stock was purchased at an average price of $50.37 per share, for a total transaction of $340,148.61. Following the completion of the acquisition, the insider owned 10,070 shares of the company's stock, valued at approximately $507,225.90. This trade represents a 203.59% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.98% of the company's stock.

Analyst Ratings Changes

SON has been the topic of several analyst reports. Argus upgraded shares of Sonoco Products to a "hold" rating in a report on Monday, April 20th. Wall Street Zen lowered shares of Sonoco Products from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Truist Financial restated a "buy" rating and issued a $65.00 price objective (down from $68.00) on shares of Sonoco Products in a report on Tuesday, April 28th. Weiss Ratings lowered shares of Sonoco Products from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, May 15th. Finally, Raymond James Financial restated a "market perform" rating on shares of Sonoco Products in a report on Friday, March 6th. Five equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Sonoco Products currently has an average rating of "Hold" and a consensus price target of $60.11.

Sonoco Products 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.

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