LSV Asset Management Boosts Position in Sonoco Products Company $SON

Key Points

• LSV Asset Management nearly doubled its stake in Sonoco Products, increasing holdings by 95.7% in Q4 to 1.56 million shares worth about $68.2 million.
• Sonoco Products reported weaker-than-expected quarterly results, with EPS of $1.20 versus the $1.57 estimate and revenue of $1.68 billion versus the $1.88 billion forecast.
• The company raised its quarterly dividend to $0.54 per share, implying an annualized yield of 4.4%, while analysts currently rate the stock a consensus Hold with a $60.11 price target.

LSV Asset Management boosted its position in shares of Sonoco Products Company (NYSE:SON - Free Report) by 95.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,563,390 shares of the industrial products company's stock after purchasing an additional 764,590 shares during the quarter. LSV Asset Management owned approximately 1.59% of Sonoco Products worth $68,226,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SON. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Sonoco Products by 44.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,093 shares of the industrial products company's stock worth $2,319,000 after purchasing an additional 15,079 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Sonoco Products by 80.8% during the first quarter. Goldman Sachs Group Inc. now owns 206,493 shares of the industrial products company's stock worth $9,755,000 after purchasing an additional 92,286 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Sonoco Products by 14.1% in the first quarter. Empowered Funds LLC now owns 11,058 shares of the industrial products company's stock worth $522,000 after acquiring an additional 1,364 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Sonoco Products by 87.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 545,179 shares of the industrial products company's stock worth $25,754,000 after acquiring an additional 255,055 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Sonoco Products by 315.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,587 shares of the industrial products company's stock worth $69,000 after acquiring an additional 1,205 shares during the last quarter. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Sonoco Products Price Performance

SON stock opened at $49.38 on Friday. The stock has a 50-day moving average price of $52.21 and a two-hundred day moving average price of $48.61. Sonoco Products Company has a 12-month low of $38.65 and a 12-month high of $58.44. The company has a current ratio of 0.96, a quick ratio of 0.54 and a debt-to-equity ratio of 0.97. The company has a market cap of $4.88 billion, a PE ratio of 4.84, a price-to-earnings-growth ratio of 1.04 and a beta of 0.40.

Sonoco Products (NYSE:SON - Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The industrial products company reported $1.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.57 by ($0.37). Sonoco Products had a net margin of 13.57% and a return on equity of 16.50%. The firm had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.88 billion. During the same period last year, the firm posted $1.38 EPS. Sonoco Products's 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. As a group, research analysts predict that Sonoco Products Company will post 5.81 EPS for the current year.

Sonoco Products Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 4.4%. This is a boost from Sonoco Products's previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, May 8th. Sonoco Products's dividend payout ratio (DPR) is presently 21.18%.

Insider Buying and Selling at Sonoco Products

In other Sonoco Products news, insider Ernest D. Haynes III sold 1,581 shares of the business's stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $56.39, for a total transaction of $89,152.59. Following the completion of the sale, the insider owned 9,377 shares of the company's stock, valued at approximately $528,769.03. The trade was a 14.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James A. Harrell III purchased 6,753 shares of the stock in a transaction on Monday, April 27th. The shares were purchased at an average cost of $50.37 per share, with a total value of $340,148.61. Following the transaction, the insider owned 10,070 shares of the company's stock, valued at $507,225.90. This trade represents a 203.59% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.98% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SON shares. Argus raised Sonoco Products to a "hold" rating in a report on Monday, April 20th. Weiss Ratings cut Sonoco Products from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, May 15th. Raymond James Financial reissued a "market perform" rating on shares of Sonoco Products in a report on Friday, March 6th. Truist Financial reissued a "buy" rating and issued a $65.00 price target (down from $68.00) on shares of Sonoco Products in a report on Tuesday, April 28th. Finally, Citigroup dropped their target price on Sonoco Products from $70.00 to $63.00 and set a "buy" rating for the company in a research note on Thursday, April 23rd. Five analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $60.11.

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.

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