Jacobs Levy Equity Management Inc. Purchases New Holdings in Sonoco Products Company $SON

Key Points

• Jacobs Levy Equity Management Inc. has acquired a new stake in Sonoco Products Company, purchasing 25,432 shares valued at approximately $1.2 million.
• Sonoco Products reported earnings per share (EPS) of $1.37, which missed estimates, contributing to a 17.7% year-over-year revenue increase to $1.91 billion.
• The company announced a quarterly dividend of $0.53 per share, yielding 4.5%, with a payout ratio currently at 37.99%.

Jacobs Levy Equity Management Inc. purchased a new stake in Sonoco Products Company (NYSE:SON - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 25,432 shares of the industrial products company's stock, valued at approximately $1,201,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Beverly Hills Private Wealth LLC increased its position in shares of Sonoco Products by 4.1% in the first quarter. Beverly Hills Private Wealth LLC now owns 5,669 shares of the industrial products company's stock valued at $268,000 after acquiring an additional 224 shares during the last quarter. CW Advisors LLC increased its position in shares of Sonoco Products by 1.5% in the first quarter. CW Advisors LLC now owns 14,791 shares of the industrial products company's stock valued at $699,000 after acquiring an additional 224 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Sonoco Products by 2.5% in the first quarter. Federated Hermes Inc. now owns 9,304 shares of the industrial products company's stock valued at $440,000 after acquiring an additional 230 shares during the last quarter. IVC Wealth Advisors LLC increased its position in shares of Sonoco Products by 4.6% in the first quarter. IVC Wealth Advisors LLC now owns 6,542 shares of the industrial products company's stock valued at $309,000 after acquiring an additional 288 shares during the last quarter. Finally, State of Michigan Retirement System increased its position in shares of Sonoco Products by 1.3% in the first quarter. State of Michigan Retirement System now owns 23,551 shares of the industrial products company's stock valued at $1,113,000 after acquiring an additional 300 shares during the last quarter. Institutional investors and hedge funds own 77.69% of the company's stock.

Sonoco Products Stock Performance

Shares of Sonoco Products stock traded up $0.58 on Friday, hitting $47.79. The stock had a trading volume of 847,814 shares, compared to its average volume of 878,893. Sonoco Products Company has a twelve month low of $39.46 and a twelve month high of $56.36. The business's 50 day moving average is $46.36 and its two-hundred day moving average is $45.63. The company has a quick ratio of 0.72, a current ratio of 1.25 and a debt-to-equity ratio of 1.53. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of 8.56, a price-to-earnings-growth ratio of 0.64 and a beta of 0.70.

Sonoco Products (NYSE:SON - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The industrial products company reported $1.37 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.07). Sonoco Products had a net margin of 8.35% and a return on equity of 20.46%. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same period in the previous year, the company posted $1.28 EPS. Sonoco Products's revenue for the quarter was up 17.7% compared to the same quarter last year. Sonoco Products has set its FY 2025 guidance at 6.000-6.2 EPS. Analysts forecast that Sonoco Products Company will post 6.1 EPS for the current year.

Sonoco Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Friday, August 8th. Sonoco Products's payout ratio is 37.99%.

Wall Street Analyst Weigh In

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

Sonoco Products Company 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.