Hsbc Holdings PLC Sells 11,882 Shares of Sonoco Products Company $SON

Key Points

• Hsbc Holdings PLC significantly reduced its holdings in Sonoco Products Company by 68.7% during the 1st quarter, now owning 5,407 shares valued at $255,000.
• Sonoco Products reported $1.37 earnings per share for the last quarter, missing analysts' estimates, while quarterly revenue was $1.91 billion, slightly below expectations.
• The company announced a quarterly dividend of $0.53 per share, representing a 4.7% dividend yield and a payout ratio of 37.99%.

Hsbc Holdings PLC decreased its position in Sonoco Products Company (NYSE:SON - Free Report) by 68.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,407 shares of the industrial products company's stock after selling 11,882 shares during the period. Hsbc Holdings PLC's holdings in Sonoco Products were worth $255,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Northern Trust Corp raised its holdings in Sonoco Products by 24.0% in the 4th 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 worth approximately $820,000. Principal Financial Group Inc. raised its holdings 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 worth $10,685,000 after buying 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 worth approximately $232,000. Finally, World Investment Advisors acquired a new position in shares of Sonoco Products in the 1st quarter worth approximately $1,347,000. Institutional investors and hedge funds own 77.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. UBS Group increased their target price on Sonoco Products from $48.00 to $50.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Truist Financial increased their target price on Sonoco Products from $53.00 to $58.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Wells Fargo & Company raised Sonoco Products from an "underweight" rating to an "overweight" rating and increased their target price for the stock from $45.00 to $55.00 in a report on Friday, May 23rd. Finally, Raymond James Financial increased their target price on Sonoco Products from $50.00 to $55.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Sonoco Products presently has an average rating of "Moderate Buy" and an average price target of $57.63.

Sonoco Products Price Performance

NYSE SON traded up $0.71 during trading hours on Friday, reaching $46.22. 1,251,773 shares of the company's stock were exchanged, compared to its average volume of 790,989. The stock has a market cap of $4.56 billion, a PE ratio of 8.28, a price-to-earnings-growth ratio of 0.62 and a beta of 0.70. Sonoco Products Company has a one year low of $39.46 and a one year high of $56.36. The firm has a fifty day moving average of $46.28 and a 200-day moving average of $45.64. 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 EPS for the quarter, missing analysts' consensus estimates of $1.44 by ($0.07). The business had revenue of $1.91 billion for 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 firm's revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the company earned $1.28 earnings per share. Sonoco Products has set its FY 2025 guidance at 6.000-6.2 EPS. On average, equities research analysts predict that Sonoco Products Company will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Friday, August 8th. Sonoco Products's dividend payout ratio (DPR) is presently 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.