Sonoco Products Company $SON Shares Bought by ProShare Advisors LLC

Key Points

• ProShare Advisors LLC increased its stake in Sonoco Products by 10.5% in the fourth quarter, and several other large institutions also boosted their holdings, indicating continued institutional interest in the stock.
• Sonoco reported weaker-than-expected quarterly results, posting EPS of $1.20 versus the $1.57 estimate and revenue of $1.68 billion versus the expected $1.88 billion. The stock was trading down 1.3% at $46.34.
• The company raised its quarterly dividend to $0.54 per share from $0.53, implying an annualized payout of $2.16 and a yield of 4.7%. Analysts currently have a consensus rating of Hold with an average price target of $60.11.

ProShare Advisors LLC raised its position in Sonoco Products Company (NYSE:SON - Free Report) by 10.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 793,571 shares of the industrial products company's stock after purchasing an additional 75,092 shares during the quarter. ProShare Advisors LLC owned about 0.80% of Sonoco Products worth $34,631,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in SON. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Sonoco Products by 44.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,093 shares of the industrial products company's stock valued at $2,319,000 after purchasing an additional 15,079 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Sonoco Products by 80.8% in the first quarter. Goldman Sachs Group Inc. now owns 206,493 shares of the industrial products company's stock valued at $9,755,000 after purchasing an additional 92,286 shares during the period. Empowered Funds LLC increased its stake in shares of Sonoco Products by 14.1% in the first quarter. Empowered Funds LLC now owns 11,058 shares of the industrial products company's stock valued at $522,000 after purchasing an additional 1,364 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Sonoco Products by 87.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 545,179 shares of the industrial products company's stock valued at $25,754,000 after acquiring an additional 255,055 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Sonoco Products by 315.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,587 shares of the industrial products company's stock valued at $69,000 after acquiring an additional 1,205 shares during the period. Institutional investors and hedge funds own 77.69% of the company's stock.

Insider Buying and Selling

In other news, CFO Paul Joachimczyk acquired 8,058 shares of the firm's stock in a transaction that occurred on Friday, April 24th. The stock was purchased at an average price of $49.64 per share, with a total value of $399,999.12. Following the purchase, the chief financial officer 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 position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Ernest D. Haynes III sold 1,581 shares of the firm's stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $56.39, for a total transaction of $89,152.59. Following the completion of the transaction, the insider directly owned 9,377 shares of the company's stock, valued at $528,769.03. This represents a 14.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.98% of the company's stock.

Sonoco Products Trading Down 1.3%

Sonoco Products stock opened at $46.34 on Wednesday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.54 and a current ratio of 0.96. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of 4.54, a price-to-earnings-growth ratio of 0.98 and a beta of 0.40. Sonoco Products Company has a 1 year low of $38.65 and a 1 year high of $58.44. The firm's 50 day moving average price is $52.48 and its two-hundred day moving average price is $48.48.

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

Sonoco Products Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 8th will be paid a $0.54 dividend. The ex-dividend date of this dividend is Friday, May 8th. This represents a $2.16 dividend on an annualized basis and a yield of 4.7%. This is a positive change from Sonoco Products's previous quarterly dividend of $0.53. Sonoco Products's dividend payout ratio (DPR) is 21.18%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SON. Wall Street Zen lowered shares of Sonoco Products from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Deutsche Bank Aktiengesellschaft began coverage on shares of Sonoco Products in a research note on Wednesday, April 1st. They set a "buy" rating and a $63.00 price objective on the stock. UBS Group lowered their price objective on shares of Sonoco Products from $62.00 to $59.00 and set a "neutral" rating on the stock in a research note on Friday, April 10th. Truist Financial reiterated a "buy" rating and set a $65.00 price objective (down from $68.00) on shares of Sonoco Products in a research note on Tuesday, April 28th. Finally, Robert W. Baird lowered their price objective on shares of Sonoco Products from $60.00 to $55.00 and set a "neutral" rating on the stock in a research note on Thursday, April 23rd. Five equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $60.11.

Sonoco Products 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.

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