Pictet Asset Management Holding SA decreased its position in Sonoco Products Company (NYSE:SON - Free Report) by 6.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 659,128 shares of the industrial products company's stock after selling 48,749 shares during the period. Pictet Asset Management Holding SA owned about 0.67% of Sonoco Products worth $28,764,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in SON. Cornerstone Planning Group LLC purchased a new stake in Sonoco Products in the 3rd quarter valued at approximately $29,000. True Wealth Design LLC raised its stake in shares of Sonoco Products by 172.5% during the 3rd quarter. True Wealth Design LLC now owns 744 shares of the industrial products company's stock worth $32,000 after buying an additional 471 shares in the last quarter. Ameriflex Group Inc. lifted its holdings in shares of Sonoco Products by 1,263.6% in the 3rd quarter. Ameriflex Group Inc. now owns 900 shares of the industrial products company's stock valued at $39,000 after buying an additional 834 shares during the period. Larson Financial Group LLC lifted its holdings in shares of Sonoco Products by 1,826.9% in the 3rd quarter. Larson Financial Group LLC now owns 1,002 shares of the industrial products company's stock valued at $43,000 after buying an additional 950 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Sonoco Products in the third quarter valued at approximately $56,000. 77.69% of the stock is owned by hedge funds and other institutional investors.
Sonoco Products Stock Performance
Shares of SON stock opened at $50.01 on Friday. The stock has a fifty day moving average price of $53.80 and a 200 day moving average price of $47.65. 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 stock has a market cap of $4.94 billion, a PE ratio of 4.90, a P/E/G ratio of 1.03 and a beta of 0.50. 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 announced its quarterly 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). The firm had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.88 billion. Sonoco Products had a net margin of 13.57% and a return on equity of 16.50%. The company's quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.38 EPS. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. Sell-side analysts forecast that Sonoco Products Company will post 5.81 earnings per share for the current fiscal year.
Sonoco Products Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th will be issued a dividend of $0.54 per share. This is an increase from Sonoco Products's previous quarterly dividend of $0.53. The ex-dividend date is Friday, May 8th. This represents a $2.16 annualized dividend and a yield of 4.3%. Sonoco Products's payout ratio is 20.78%.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the company. Truist Financial reaffirmed a "buy" rating and set a $65.00 price objective (down from $68.00) on shares of Sonoco Products in a report on Tuesday. Weiss Ratings restated a "hold (c-)" rating on shares of Sonoco Products in a research report on Wednesday, January 21st. Argus raised shares of Sonoco Products to a "hold" rating in a research note on Monday, April 20th. Wall Street Zen upgraded shares of Sonoco Products from a "hold" rating to a "buy" rating in a report on Saturday, February 7th. Finally, UBS Group reduced their price objective on shares of Sonoco Products from $62.00 to $59.00 and set a "neutral" rating for the company in a research note on Friday, April 10th. Five research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Sonoco Products presently has a consensus rating of "Hold" and an average price target of $60.11.
Check Out Our Latest Research Report on Sonoco Products
Insiders Place Their Bets
In other Sonoco Products news, insider James A. Harrell III bought 6,753 shares of the business's stock in a transaction on Monday, April 27th. The stock was bought at an average price of $50.37 per share, for a total transaction of $340,148.61. Following the completion of the transaction, the insider owned 10,070 shares in the company, valued at approximately $507,225.90. The trade was a 203.59% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ernest D. Haynes III sold 1,581 shares of the company's stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $56.39, for a total transaction of $89,152.59. Following the completion of the sale, the insider directly owned 9,377 shares in the company, valued at $528,769.03. This trade represents a 14.43% decrease in their position. The SEC filing for this sale provides additional information. 0.98% of the stock is currently owned by company insiders.
About Sonoco Products
(
Free Report)
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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