Geode Capital Management LLC Raises Stock Holdings in Sonoco Products Company $SON

Key Points

• Geode Capital Management increased its Sonoco Products stake by 3.0% in the fourth quarter, adding 53,540 shares to bring its total holding to 1.83 million shares valued at about $79.9 million.
• Several analysts have turned more cautious on the stock, with multiple firms cutting price targets; the current consensus rating is Hold with a consensus price target of $60.11.
• Sonoco reported weaker-than-expected earnings for the latest quarter, missing both EPS and revenue estimates, though it also raised its quarterly dividend to $0.54 per share.

Geode Capital Management LLC grew its stake in Sonoco Products Company (NYSE:SON - Free Report) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,829,794 shares of the industrial products company's stock after acquiring an additional 53,540 shares during the quarter. Geode Capital Management LLC owned about 1.86% of Sonoco Products worth $79,869,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. SBI Securities Co. Ltd. lifted its position in shares of 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 acquiring an additional 258 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of Sonoco Products in the fourth quarter valued at $29,000. Ameriflex Group Inc. lifted its position in shares of 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 acquiring an additional 834 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of 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 acquiring an additional 950 shares in the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new stake in shares of Sonoco Products in the fourth quarter valued at $47,000. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Robert W. Baird dropped their target price on Sonoco Products from $60.00 to $55.00 and set a "neutral" rating for the company in a research note on Thursday, April 23rd. Wells Fargo & Company dropped their target price on Sonoco Products from $60.00 to $56.00 and set an "equal weight" rating for the company in a research note on Friday, March 20th. Weiss Ratings lowered Sonoco Products from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, May 15th. UBS Group dropped their target price on Sonoco Products from $62.00 to $59.00 and set a "neutral" rating for the company in a research note on Friday, April 10th. Finally, Argus upgraded Sonoco Products to a "hold" rating in a research note on Monday, April 20th. Five research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $60.11.

Insider Transactions at Sonoco Products

In other Sonoco Products news, CFO Paul Joachimczyk purchased 8,058 shares of Sonoco Products stock in a transaction that occurred on Friday, April 24th. The stock was purchased at an average price of $49.64 per share, with a total value of $399,999.12. Following the completion of the acquisition, the chief financial officer owned 28,558 shares of the company's stock, valued at approximately $1,417,619.12. This trade represents a 39.31% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider James A. Harrell III purchased 6,753 shares of Sonoco Products stock in a transaction that occurred on Monday, April 27th. The stock was acquired at an average cost of $50.37 per share, with a total value of $340,148.61. Following the acquisition, the insider directly owned 10,070 shares of the company's stock, valued at $507,225.90. The trade was a 203.59% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.98% of the company's stock.

Sonoco Products Price Performance

Shares of NYSE SON opened at $47.45 on Monday. Sonoco Products Company has a 1-year low of $38.65 and a 1-year high of $58.44. The business has a 50-day moving average of $51.46 and a 200-day moving average of $49.25. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.96 and a quick ratio of 0.54. The company has a market capitalization of $4.69 billion, a price-to-earnings ratio of 4.65, a PEG ratio of 1.00 and a beta of 0.39.

Sonoco Products (NYSE:SON - Get Free Report) last issued 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). Sonoco Products had a return on equity of 16.50% and a net margin of 13.57%.The company had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.88 billion. During the same period in the previous year, the company earned $1.38 EPS. Sonoco Products's quarterly revenue was down 1.9% on a year-over-year basis. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. On average, equities analysts anticipate that Sonoco Products Company will post 5.81 EPS for the current fiscal year.

Sonoco Products Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 8th will be issued a $0.54 dividend. This is an increase from Sonoco Products's previous quarterly dividend of $0.53. This represents a $2.16 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Friday, May 8th. Sonoco Products's dividend payout ratio (DPR) is currently 21.18%.

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.

Want to see what other hedge funds are holding SON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sonoco Products Company (NYSE:SON - Free Report).

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.