Wellington Management Group LLP Grows Stake in Sonoco Products Company $SON

Key Points

• Wellington Management Group LLP increased its stake in Sonoco Products Company by 12.5% in Q1, owning 357,608 shares valued at approximately $16.89 million.
• Numerous institutional investors have also made changes to their positions, with a total of 77.69% of the company's stock held by such entities.
• Sonoco recently reported quarterly earnings of $1.37 per share, missing estimates, with a 4.5% dividend yield announced to be paid on September 10th.

Wellington Management Group LLP raised its stake in Sonoco Products Company (NYSE:SON - Free Report) by 12.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 357,608 shares of the industrial products company's stock after acquiring an additional 39,641 shares during the period. Wellington Management Group LLP owned approximately 0.36% of Sonoco Products worth $16,893,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Versor Investments LP grew its stake in shares of Sonoco Products by 24.8% in the first quarter. Versor Investments LP now owns 16,105 shares of the industrial products company's stock worth $761,000 after acquiring an additional 3,205 shares during the last quarter. Raymond James Financial Inc. lifted its holdings in shares of Sonoco Products by 11.0% during the first quarter. Raymond James Financial Inc. now owns 136,553 shares of the industrial products company's stock valued at $6,451,000 after purchasing an additional 13,479 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Sonoco Products by 14.4% during the first quarter. Dimensional Fund Advisors LP now owns 3,591,263 shares of the industrial products company's stock valued at $169,646,000 after purchasing an additional 450,792 shares in the last quarter. William B. Walkup & Associates Inc. lifted its holdings in shares of Sonoco Products by 15.8% during the first quarter. William B. Walkup & Associates Inc. now owns 7,767 shares of the industrial products company's stock valued at $367,000 after purchasing an additional 1,060 shares in the last quarter. Finally, Financial Engines Advisors L.L.C. lifted its holdings in shares of Sonoco Products by 5.2% during the first quarter. Financial Engines Advisors L.L.C. now owns 17,352 shares of the industrial products company's stock valued at $820,000 after purchasing an additional 852 shares in the last quarter. 77.69% of the stock is owned by hedge funds and other institutional investors.

Sonoco Products Stock Performance

SON traded up $0.45 during midday trading on Friday, reaching $47.19. The company had a trading volume of 1,733,012 shares, compared to its average volume of 750,246. The company has a quick ratio of 0.72, a current ratio of 1.25 and a debt-to-equity ratio of 1.53. The business has a 50-day moving average of $46.04 and a two-hundred day moving average of $45.69. The company has a market cap of $4.65 billion, a P/E ratio of 8.46, a P/E/G ratio of 0.64 and a beta of 0.69. Sonoco Products Company has a 1 year low of $39.46 and a 1 year high of $56.77.

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

Sonoco Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th will be given a $0.53 dividend. The ex-dividend date is Friday, August 8th. This represents a $2.12 dividend on an annualized basis and a yield of 4.5%. Sonoco Products's dividend payout ratio is presently 37.99%.

Wall Street Analysts Forecast Growth

SON has been the topic of a number of research analyst reports. Raymond James Financial upped their price target on Sonoco Products from $50.00 to $55.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. UBS Group upped their price target on Sonoco Products from $48.00 to $50.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Truist Financial upped their price target on Sonoco Products from $53.00 to $58.00 and gave the company a "buy" rating in a report on Friday, July 25th. 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 increased their target price for the company from $45.00 to $55.00 in a report on Friday, May 23rd. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target 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.