Pinion Investment Advisors LLC Sells 13,930 Shares of Sonoco Products Company $SON

Key Points

• Pinion Investment Advisors LLC sold 13,930 shares of Sonoco Products Company, reducing its stake by 49% to 14,526 shares valued at approximately $633,000.
• Sonoco Products Company recently missed earnings expectations, reporting $1.37 EPS compared to the consensus estimate of $1.44, though revenue grew 17.7% year-over-year to $1.91 billion.
• The company declared a quarterly dividend of $0.53, representing an annualized yield of 5.2% with a payout ratio of 37.99%.

Pinion Investment Advisors LLC reduced its position in Sonoco Products Company (NYSE:SON - Free Report) by 49.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,526 shares of the industrial products company's stock after selling 13,930 shares during the quarter. Pinion Investment Advisors LLC's holdings in Sonoco Products were worth $633,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. ST Germain D J Co. Inc. bought a new position in Sonoco Products in the 2nd quarter valued at about $26,000. Whittier Trust Co. of Nevada Inc. increased its holdings in Sonoco Products by 508.1% in the 1st 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 Sonoco Products by 152.7% in the 1st quarter. UMB Bank n.a. now owns 950 shares of the industrial products company's stock valued at $45,000 after buying an additional 574 shares during the period. Allworth Financial LP increased its holdings in Sonoco Products by 152.0% in the 1st quarter. Allworth Financial LP now owns 1,071 shares of the industrial products company's stock valued at $50,000 after buying an additional 646 shares during the period. Finally, Hilltop National Bank bought a new position in Sonoco Products in the 2nd quarter valued at about $56,000. 77.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SON has been the topic of several recent analyst reports. Weiss Ratings reissued a "hold (c-)" rating on shares of Sonoco Products in a report on Wednesday. Truist Financial raised their price target on shares of Sonoco Products from $53.00 to $58.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Raymond James Financial raised their price target on shares of Sonoco Products from $50.00 to $55.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. UBS Group reduced their price target on shares of Sonoco Products from $50.00 to $46.00 and set a "neutral" rating on the stock in a research note on Monday. Finally, Bank of America restated a "neutral" rating and issued a $56.00 price target on shares of Sonoco Products in a research note on Thursday. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Sonoco Products presently has an average rating of "Moderate Buy" and an average target price of $55.25.

Sonoco Products Stock Down 5.2%

NYSE:SON opened at $40.41 on Friday. The firm's 50 day simple moving average is $45.48 and its 200 day simple moving average is $45.32. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.25 and a quick ratio of 0.72. Sonoco Products Company has a one year low of $39.46 and a one year high of $55.33. The company has a market cap of $3.99 billion, a PE ratio of 7.24, a P/E/G ratio of 0.57 and a beta of 0.68.

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

Sonoco Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were given a $0.53 dividend. The ex-dividend date was Friday, August 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.2%. Sonoco Products's payout ratio is 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.

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