Sonoco Products Company $SON Shares Acquired by ARGA Investment Management LP

Key Points

• ARGA Investment Management LP boosted its stake in Sonoco Products by 608.5% in the first quarter, ending with 347,853 shares worth about $18.8 million.
• Sonoco reported Q1 earnings of $1.20 per share, missing analyst expectations of $1.57, while revenue came in at $1.68 billion versus the $1.88 billion estimate.
• The company raised its quarterly dividend to $0.54 per share, or $2.16 annually, for a 3.9% yield; meanwhile, analysts currently rate the stock a consensus Hold with a $60.44 price target.

ARGA Investment Management LP grew its position in shares of Sonoco Products Company (NYSE:SON - Free Report) by 608.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 347,853 shares of the industrial products company's stock after buying an additional 298,756 shares during the period. ARGA Investment Management LP owned about 0.35% of Sonoco Products worth $18,815,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. SBI Securities Co. Ltd. lifted its holdings in Sonoco Products by 77.7% in the fourth quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company's stock worth $26,000 after acquiring an additional 258 shares during the last quarter. LRI Investments LLC bought a new position in shares of Sonoco Products in the fourth quarter worth $29,000. WPG Advisers LLC grew its position in Sonoco Products by 93.1% in the 1st quarter. WPG Advisers LLC now owns 612 shares of the industrial products company's stock valued at $33,000 after buying an additional 295 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of Sonoco Products by 1,826.9% during the third quarter. Larson Financial Group LLC now owns 1,002 shares of the industrial products company's stock valued at $43,000 after acquiring an additional 950 shares during the period. Finally, Cullen Frost Bankers Inc. bought a new stake in shares of Sonoco Products in the 4th quarter worth $47,000. 77.69% of the stock is currently owned by institutional investors.

Insider Transactions at Sonoco Products

In related news, insider James A. Harrell III acquired 6,753 shares of the firm's stock in a transaction on Monday, April 27th. The shares were bought at an average cost of $50.37 per share, with a total value of $340,148.61. Following the completion of the acquisition, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Paul Joachimczyk purchased 8,058 shares of the stock in a transaction on Friday, April 24th. The stock was bought at an average price of $49.64 per share, for a total transaction of $399,999.12. Following the completion of the transaction, the chief financial officer directly owned 28,558 shares of the company's stock, valued at approximately $1,417,619.12. This trade represents a 39.31% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.98% of the stock is owned by company insiders.

Sonoco Products Trading Up 1.6%

Shares of SON stock opened at $55.95 on Friday. The firm's fifty day simple moving average is $51.18 and its 200 day simple moving average is $51.19. The firm has a market capitalization of $5.53 billion, a P/E ratio of 5.49, a price-to-earnings-growth ratio of 1.16 and a beta of 0.37. The company has a current ratio of 0.96, a quick ratio of 0.54 and a debt-to-equity ratio of 0.97. Sonoco Products Company has a 1 year low of $38.65 and a 1 year high of $58.44.

Sonoco Products (NYSE:SON - Get Free Report) last released its earnings results on Tuesday, April 21st. The industrial products company reported $1.20 earnings per share for the quarter, missing analysts' consensus estimates of $1.57 by ($0.37). Sonoco Products had a return on equity of 16.50% and a net margin of 13.57%.The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period last year, the business earned $1.38 earnings per share. The firm's quarterly revenue was down 1.9% compared to the same quarter last year. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. As a group, sell-side analysts predict that Sonoco Products Company will post 5.81 EPS for the current year.

Sonoco Products Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from Sonoco Products's previous quarterly dividend of $0.53. Sonoco Products's payout ratio is 21.18%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SON shares. UBS Group dropped their target price on shares of Sonoco Products from $62.00 to $59.00 and set a "neutral" rating on the stock in a report on Friday, April 10th. Robert W. Baird decreased their price objective on Sonoco Products from $60.00 to $55.00 and set a "neutral" rating for the company in a research report on Thursday, April 23rd. Weiss Ratings raised shares of Sonoco Products from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, June 29th. Deutsche Bank Aktiengesellschaft began coverage on Sonoco Products in a report on Wednesday, April 1st. They set a "buy" rating and a $63.00 price target for the company. Finally, Wells Fargo & Company lowered their price target on Sonoco Products from $60.00 to $56.00 and set an "equal weight" rating for the company in a research note on Friday, March 20th. Five research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, Sonoco Products has an average rating of "Hold" and a consensus price target of $60.44.

Sonoco Products Company Profile

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.

Want to see what other hedge funds are holding SON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sonoco Products Company (NYSE:SON - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.