LPL Financial LLC Boosts Stake in Sonoco Products Company $SON

Key Points

• LPL Financial LLC increased its stake in Sonoco Products Company by 16.1% in the first quarter, owning a total of 67,101 shares valued at approximately $3.17 million.
• Sonoco Products reported earnings of $1.37 per share, missing expectations, with a revenue of $1.91 billion, which was slightly below the anticipated amount.
• The company declared a quarterly dividend of $0.53 per share, to be paid on September 10th, which reflects an annualized yield of 4.6%.

LPL Financial LLC increased its holdings in Sonoco Products Company (NYSE:SON - Free Report) by 16.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,101 shares of the industrial products company's stock after buying an additional 9,303 shares during the period. LPL Financial LLC owned about 0.07% of Sonoco Products worth $3,170,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Northern Trust Corp raised its stake in Sonoco Products by 24.0% in the fourth quarter. Northern Trust Corp now owns 859,810 shares of the industrial products company's stock worth $42,002,000 after buying an additional 166,552 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in Sonoco Products in the first quarter worth approximately $820,000. Principal Financial Group Inc. raised its stake in Sonoco Products by 0.5% in the first 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 bought a new position in Sonoco Products in the first quarter worth approximately $232,000. Finally, World Investment Advisors bought a new position in Sonoco Products in the first quarter worth approximately $1,347,000. Institutional investors own 77.69% of the company's stock.

Sonoco Products Stock Performance

NYSE:SON traded up $0.5550 during mid-day trading on Thursday, hitting $46.5350. The company's stock had a trading volume of 529,276 shares, compared to its average volume of 1,007,050. Sonoco Products Company has a 1 year low of $39.46 and a 1 year high of $56.77. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.25 and a quick ratio of 0.72. The stock has a market cap of $4.59 billion, a price-to-earnings ratio of 8.34, a PEG ratio of 0.62 and a beta of 0.69. The business's fifty day moving average is $45.65 and its two-hundred day moving average is $45.72.

Sonoco Products (NYSE:SON - Get Free Report) last posted its quarterly 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 business had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.92 billion. During the same period in the previous year, the company posted $1.28 earnings per share. 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 anticipate that Sonoco Products Company will post 6.1 EPS for the current fiscal year.

Sonoco Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Friday, August 8th. Sonoco Products's dividend payout ratio is presently 37.99%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Truist Financial boosted their price objective on shares of Sonoco Products from $53.00 to $58.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. UBS Group upped their price target on Sonoco Products from $48.00 to $50.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Raymond James Financial upped their price target on Sonoco Products from $50.00 to $55.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Wells Fargo & Company raised Sonoco Products from an "underweight" rating to an "overweight" rating and upped their price target for the stock from $45.00 to $55.00 in a research report on Friday, May 23rd. Finally, Wall Street Zen raised Sonoco Products from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $57.63.

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.