20,000 Shares in Sonoco Products Company $SON Acquired by Mork Capital Management LLC

Key Points

• Mork Capital Management LLC has acquired a new position in Sonoco Products Company, purchasing 20,000 shares for approximately $945,000.
• Several institutional investors significantly increased their stakes in Sonoco Products during the 1st quarter, with Millennium Management LLC enhancing its position by 739.7% to own over 1.15 million shares.
• Sono Products reported a $1.37 earnings per share for the last quarter, missing analysts' expectations, but its revenue increased by 17.7% year-over-year.

Mork Capital Management LLC acquired a new stake in shares of Sonoco Products Company (NYSE:SON - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 20,000 shares of the industrial products company's stock, valued at approximately $945,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. lifted its position in Sonoco Products by 508.1% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 900 shares of the industrial products company's stock valued at $43,000 after buying an additional 752 shares during the period. UMB Bank n.a. increased its holdings in shares of Sonoco Products by 152.7% during the first quarter. UMB Bank n.a. now owns 950 shares of the industrial products company's stock valued at $45,000 after acquiring an additional 574 shares in the last quarter. Colonial Trust Co SC increased its holdings in shares of Sonoco Products by 90.6% during the fourth quarter. Colonial Trust Co SC now owns 953 shares of the industrial products company's stock valued at $47,000 after acquiring an additional 453 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Sonoco Products by 152.0% during the first quarter. Allworth Financial LP now owns 1,071 shares of the industrial products company's stock valued at $50,000 after acquiring an additional 646 shares in the last quarter. Finally, Quarry LP increased its holdings in shares of Sonoco Products by 56.5% during the first quarter. Quarry LP now owns 1,518 shares of the industrial products company's stock valued at $72,000 after acquiring an additional 548 shares in the last quarter. Hedge funds and other institutional investors own 77.69% of the company's stock.

Analyst Ratings Changes

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

Sonoco Products Stock Performance

NYSE:SON traded down $0.05 during mid-day trading on Monday, reaching $46.18. The company's stock had a trading volume of 969,639 shares, compared to its average volume of 826,737. Sonoco Products Company has a 12-month low of $39.46 and a 12-month high of $56.36. The firm's fifty day moving average price is $46.33 and its two-hundred day moving average price is $45.63. The company has a current ratio of 1.25, a quick ratio of 0.72 and a debt-to-equity ratio of 1.53. The stock has a market cap of $4.55 billion, a P/E ratio of 8.28, a PEG ratio of 0.62 and a beta of 0.70.

Sonoco Products (NYSE:SON - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The industrial products company reported $1.37 earnings per share for the quarter, missing analysts' consensus estimates of $1.44 by ($0.07). Sonoco Products had a return on equity of 20.46% and a net margin of 8.35%.The business had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.92 billion. During the same period last year, the firm posted $1.28 EPS. Sonoco Products's quarterly revenue 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. On average, equities analysts forecast 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. Stockholders of record on Friday, August 8th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $2.12 annualized dividend and a dividend yield of 4.6%. Sonoco Products's dividend payout ratio is presently 37.99%.

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.