Ieq Capital LLC Has $484,000 Stock Holdings in Sonoco Products Company $SON

Key Points

• Ieq Capital LLC has significantly reduced its stake in Sonoco Products Company by 74.1%, indicating a shift in institutional investment strategies.
• Sonoco Products reported earnings of $1.37 EPS, missing analysts' estimates, despite year-over-year revenue growth of 17.7%.
• The company announced a quarterly dividend of $0.53, representing an annual yield of 4.7%, reflecting its commitment to returning value to shareholders.

Ieq Capital LLC decreased its position in Sonoco Products Company (NYSE:SON - Free Report) by 74.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,249 shares of the industrial products company's stock after selling 29,327 shares during the quarter. Ieq Capital LLC's holdings in Sonoco Products were worth $484,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SON. Invenomic Capital Management LP grew its stake in Sonoco Products by 368.6% during the 4th quarter. Invenomic Capital Management LP now owns 666,430 shares of the industrial products company's stock worth $32,555,000 after buying an additional 524,198 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Sonoco Products by 14.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,591,263 shares of the industrial products company's stock worth $169,646,000 after buying an additional 450,792 shares during the last quarter. Deprince Race & Zollo Inc. grew its stake in Sonoco Products by 53.4% during the 4th quarter. Deprince Race & Zollo Inc. now owns 1,272,121 shares of the industrial products company's stock worth $62,143,000 after buying an additional 442,892 shares during the last quarter. Valley Wealth Managers Inc. grew its stake in Sonoco Products by 699.3% during the 1st quarter. Valley Wealth Managers Inc. now owns 497,814 shares of the industrial products company's stock worth $23,517,000 after buying an additional 435,529 shares during the last quarter. Finally, Wellington Management Group LLP bought a new position in Sonoco Products during the 4th quarter worth $15,533,000. Institutional investors and hedge funds own 77.69% of the company's stock.

Sonoco Products Price Performance

Shares of Sonoco Products stock traded up $0.71 during trading on Friday, hitting $46.22. The stock had a trading volume of 1,251,773 shares, compared to its average volume of 790,989. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.25 and a quick ratio of 0.72. The firm has a market cap of $4.56 billion, a P/E ratio of 8.28, a PEG ratio of 0.62 and a beta of 0.70. The business has a fifty day moving average of $46.28 and a two-hundred day moving average of $45.64. Sonoco Products Company has a fifty-two week low of $39.46 and a fifty-two week high of $56.36.

Sonoco Products (NYSE:SON - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $1.37 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.07). The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.92 billion. Sonoco Products had a net margin of 8.35% and a return on equity of 20.46%. The company's quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.28 EPS. Sonoco Products has set its FY 2025 guidance at 6.000-6.2 EPS. On average, sell-side analysts expect that Sonoco Products Company will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts recently commented on the company. Raymond James Financial upped their price objective on Sonoco Products from $50.00 to $55.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. UBS Group upped their price objective on Sonoco Products from $48.00 to $50.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Truist Financial upped their price objective on Sonoco Products from $53.00 to $58.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Finally, Wells Fargo & Company upgraded Sonoco Products from an "underweight" rating to an "overweight" rating and upped their price objective for the stock from $45.00 to $55.00 in a research note on Friday, May 23rd. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Sonoco Products currently has a consensus rating of "Moderate Buy" and an average price target of $57.63.

About Sonoco Products

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.