Louisiana State Employees Retirement System Takes Position in Sonoco Products Company $SON

Key Points

• Louisiana State Employees Retirement System opened a new position in Sonoco Products during the first quarter, buying 28,600 shares worth about $1.55 million.
• Sonoco reported weaker-than-expected quarterly results, with EPS of $1.20 versus $1.57 expected and revenue of $1.68 billion versus $1.88 billion estimated.
• The company also raised its quarterly dividend to $0.54 per share, while analysts currently rate the stock a consensus Hold with an average price target of $60.11.

Louisiana State Employees Retirement System bought a new position in shares of Sonoco Products Company (NYSE:SON - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 28,600 shares of the industrial products company's stock, valued at approximately $1,547,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SBI Securities Co. Ltd. increased its holdings in Sonoco Products by 77.7% during the 4th quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company's stock worth $26,000 after purchasing an additional 258 shares during the last quarter. LRI Investments LLC purchased a new position in shares of Sonoco Products during the 4th quarter valued at approximately $29,000. Ameriflex Group Inc. grew its position in shares of Sonoco Products by 1,263.6% during the third quarter. Ameriflex Group Inc. now owns 900 shares of the industrial products company's stock worth $39,000 after buying an additional 834 shares in the last quarter. Larson Financial Group LLC grew its position in shares of Sonoco Products by 1,826.9% during the third quarter. Larson Financial Group LLC now owns 1,002 shares of the industrial products company's stock worth $43,000 after buying an additional 950 shares in the last quarter. Finally, Cullen Frost Bankers Inc. bought a new stake in shares of Sonoco Products in the fourth quarter worth $47,000. Hedge funds and other institutional investors own 77.69% of the company's stock.

Sonoco Products Stock Down 0.4%

Shares of NYSE:SON opened at $56.13 on Thursday. The company's fifty day moving average is $50.33 and its two-hundred day moving average is $50.60. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.54 and a current ratio of 0.96. Sonoco Products Company has a 1-year low of $38.65 and a 1-year high of $58.44. The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of 5.50, a price-to-earnings-growth ratio of 1.18 and a beta of 0.36.

Sonoco Products (NYSE:SON - Get Free Report) last released its quarterly earnings data 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 business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the company earned $1.38 EPS. Sonoco Products's revenue was down 1.9% compared to the same quarter last year. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. Equities analysts anticipate that Sonoco Products Company will post 5.81 EPS for the current year.

Sonoco Products Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 8th were paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Friday, May 8th. This is an increase from Sonoco Products's previous quarterly dividend of $0.53. Sonoco Products's dividend payout ratio (DPR) is currently 21.18%.

Wall Street Analysts Forecast Growth

SON has been the topic of a number of research analyst reports. Robert W. Baird reduced their price objective on shares of Sonoco Products from $60.00 to $55.00 and set a "neutral" rating on the stock in a research note on Thursday, April 23rd. Truist Financial reissued a "buy" rating and issued a $65.00 target price (down from $68.00) on shares of Sonoco Products in a research report on Tuesday, April 28th. Argus upgraded shares of Sonoco Products to a "hold" rating in a research note on Monday, April 20th. Weiss Ratings raised shares of Sonoco Products from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday. Finally, Wall Street Zen lowered Sonoco Products from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Five equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Sonoco Products currently has an average rating of "Hold" and a consensus price target of $60.11.

Insider Buying and Selling at Sonoco Products

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

Sonoco Products Company 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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