First Trust Advisors LP Sells 140,945 Shares of Sonoco Products Company $SON

Key Points

• First Trust Advisors LP cut its Sonoco Products stake by 10.9% in the first quarter, selling 140,945 shares and leaving it with 1,156,427 shares valued at about $62.6 million.
• Sonoco reported better-than-expected quarterly results, with EPS of $1.51 versus $1.47 expected and revenue of $1.89 billion versus $1.88 billion estimated. The company also reiterated FY 2026 EPS guidance of $5.80 to $6.20.
• The stock has attracted mixed analyst sentiment, with five Buy ratings and seven Hold ratings. Recent price targets were raised by Bank of America, Citigroup, and Truist, while the consensus rating remains Hold with a target price of $61.78.

First Trust Advisors LP lowered its stake in shares of Sonoco Products Company (NYSE:SON - Free Report) by 10.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,156,427 shares of the industrial products company's stock after selling 140,945 shares during the period. First Trust Advisors LP owned 1.17% of Sonoco Products worth $62,551,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. SBI Securities Co. Ltd. raised its stake in shares of Sonoco Products by 77.7% during the 4th quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 258 shares during the period. LRI Investments LLC purchased a new stake in Sonoco Products during the 4th quarter worth about $29,000. WPG Advisers LLC boosted its stake in Sonoco Products by 93.1% in the 1st quarter. WPG Advisers LLC now owns 612 shares of the industrial products company's stock worth $33,000 after purchasing an additional 295 shares during the period. Larson Financial Group LLC grew its holdings in Sonoco Products by 1,826.9% during the 3rd 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 in the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new position in Sonoco Products during the 4th quarter valued at about $47,000. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SON. Wall Street Zen cut Sonoco Products from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Weiss Ratings lowered shares of Sonoco Products from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, July 20th. Bank of America boosted their price objective on shares of Sonoco Products from $65.00 to $69.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Citigroup increased their target price on shares of Sonoco Products from $63.00 to $66.00 and gave the stock a "buy" rating in a research note on Thursday, July 9th. Finally, Truist Financial raised their price target on shares of Sonoco Products from $64.00 to $68.00 and gave the company a "buy" rating in a report on Friday. Five equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $61.78.

Sonoco Products Stock Performance

Shares of SON opened at $58.27 on Friday. The company has a market cap of $5.76 billion, a PE ratio of 9.26, a price-to-earnings-growth ratio of 1.26 and a beta of 0.37. The company has a current ratio of 0.99, a quick ratio of 0.54 and a debt-to-equity ratio of 0.97. The stock has a 50-day moving average price of $52.16 and a 200-day moving average price of $52.01. Sonoco Products Company has a 12-month low of $38.65 and a 12-month high of $58.62.

Sonoco Products (NYSE:SON - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.47 by $0.04. The company 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% on a year-over-year basis. During the same quarter in the previous year, the firm 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 forecast that Sonoco Products Company will post 5.79 earnings per share for the current fiscal year.

Sonoco Products Dividend Announcement

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

Insider Activity at Sonoco Products

In related news, insider James A. Harrell III acquired 6,753 shares of the stock in a transaction dated Monday, April 27th. The shares were purchased at an average price of $50.37 per share, for a total transaction of $340,148.61. Following the transaction, the insider owned 10,070 shares in the company, valued at $507,225.90. This represents a 203.59% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 0.98% of the stock is owned by insiders.

About Sonoco Products

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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