Sonoco Products Company $SON Shares Purchased by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in Sonoco Products Company by 0.9%, owning over 1 million shares valued at approximately $49.77 million as of the latest filing.
• Sonoco Products recently reported a quarterly revenue of $1.91 billion but missed analysts' earnings expectations, with an EPS of $1.37 compared to a consensus of $1.44.
• The company declared a quarterly dividend of $0.53 per share, with an annualized dividend yield of 4.6%, set to be paid on September 10th.

Charles Schwab Investment Management Inc. increased its holdings in Sonoco Products Company (NYSE:SON - Free Report) by 0.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,053,527 shares of the industrial products company's stock after buying an additional 8,907 shares during the period. Charles Schwab Investment Management Inc. owned about 1.07% of Sonoco Products worth $49,769,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. boosted its position in shares of 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 worth $43,000 after buying an additional 752 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Sonoco Products by 152.7% in the 1st quarter. UMB Bank n.a. now owns 950 shares of the industrial products company's stock worth $45,000 after buying an additional 574 shares in the last quarter. Colonial Trust Co SC boosted its position in shares of Sonoco Products by 90.6% in the 4th quarter. Colonial Trust Co SC now owns 953 shares of the industrial products company's stock worth $47,000 after buying an additional 453 shares in the last quarter. Quarry LP boosted its position in shares of Sonoco Products by 111.3% in the 4th quarter. Quarry LP now owns 970 shares of the industrial products company's stock worth $47,000 after buying an additional 511 shares in the last quarter. Finally, Allworth Financial LP boosted its position in shares of Sonoco Products by 152.0% in the 1st quarter. Allworth Financial LP now owns 1,071 shares of the industrial products company's stock worth $50,000 after buying an additional 646 shares in the last quarter. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Sonoco Products Trading Up 1.2%

Shares of NYSE SON traded up $0.5550 on Thursday, reaching $46.5350. 529,276 shares of the company traded hands, compared to its average volume of 1,007,050. Sonoco Products Company has a fifty-two week low of $39.46 and a fifty-two week high of $56.77. The company has a 50 day moving average of $45.65 and a 200 day moving average 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 stock has a market capitalization of $4.59 billion, a PE ratio of 8.34, a P/E/G ratio of 0.62 and a beta of 0.69.

Sonoco Products (NYSE:SON - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $1.37 EPS for the quarter, missing analysts' consensus estimates of $1.44 by ($0.07). Sonoco Products had a net margin of 8.35% and a return on equity of 20.46%. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period in the prior year, the company earned $1.28 EPS. The company's 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 research analysts forecast that Sonoco Products Company will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Announces Dividend

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

Wall Street Analyst Weigh In

SON has been the subject of several analyst reports. Raymond James Financial boosted their target price 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. Wells Fargo & Company raised shares of Sonoco Products from an "underweight" rating to an "overweight" rating and boosted their target price for the company from $45.00 to $55.00 in a research note on Friday, May 23rd. UBS Group boosted their target price on shares of Sonoco Products from $48.00 to $50.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Wall Street Zen raised shares of Sonoco Products from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. Finally, Truist Financial boosted their target price 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. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $57.63.

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.