National Bank of Canada FI Makes New $1.18 Million Investment in Sonoco Products Company $SON

Key Points

• National Bank of Canada FI invested approximately $1.18 million in Sonoco Products Company by acquiring 24,919 shares in the first quarter.
• Sonoco Products recently missed earnings expectations, reporting earnings per share of $1.37 against a consensus estimate of $1.44.
• The company declared a quarterly dividend of $0.53, representing an annualized yield of 4.6%, payable to investors of record on August 8th.

National Bank of Canada FI bought a new stake in Sonoco Products Company (NYSE:SON - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 24,919 shares of the industrial products company's stock, valued at approximately $1,177,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its holdings in Sonoco Products by 4.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,140,471 shares of the industrial products company's stock valued at $153,411,000 after buying an additional 136,965 shares during the last quarter. Earnest Partners LLC grew its holdings in shares of Sonoco Products by 0.4% during the 4th quarter. Earnest Partners LLC now owns 2,594,601 shares of the industrial products company's stock worth $126,746,000 after purchasing an additional 10,661 shares in the last quarter. Deprince Race & Zollo Inc. grew its holdings in shares of Sonoco Products by 53.4% during the 4th quarter. Deprince Race & Zollo Inc. now owns 1,272,121 shares of the industrial products company's stock worth $62,143,000 after purchasing an additional 442,892 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Sonoco Products by 0.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,053,527 shares of the industrial products company's stock worth $49,769,000 after purchasing an additional 8,907 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Sonoco Products by 49.3% during the 4th quarter. AQR Capital Management LLC now owns 886,332 shares of the industrial products company's stock worth $43,262,000 after purchasing an additional 292,772 shares in the last quarter. Institutional investors and hedge funds own 77.69% of the company's stock.

Sonoco Products Price Performance

SON stock traded up $0.5550 during trading on Thursday, hitting $46.5350. The company had a trading volume of 529,276 shares, compared to its average volume of 1,007,050. The company has a fifty day moving average price of $45.65 and a two-hundred day moving average price of $45.72. 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 company has a market cap of $4.59 billion, a P/E ratio of 8.34, a P/E/G ratio of 0.62 and a beta of 0.69. Sonoco Products Company has a fifty-two week low of $39.46 and a fifty-two week high of $56.77.

Sonoco Products (NYSE:SON - Get Free Report) last announced 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). The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.92 billion. Sonoco Products had a net margin of 8.35% and a return on equity of 20.46%. Sonoco Products's quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.28 EPS. Sonoco Products has set its FY 2025 guidance at 6.000-6.2 EPS. Equities research analysts expect that Sonoco Products Company will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SON shares. Raymond James Financial lifted their price objective 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 objective on Sonoco Products from $53.00 to $58.00 and gave the stock a "buy" rating in a report on Friday, July 25th. UBS Group lifted their price objective on Sonoco Products from $48.00 to $50.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Wall Street Zen raised Sonoco Products from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, Wells Fargo & Company raised Sonoco Products from an "underweight" rating to an "overweight" rating and lifted their price objective for the stock from $45.00 to $55.00 in a report on Friday, May 23rd. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus 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.