Sonoco Products Company $SON Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its stake in Sonoco Products Company by 5.8% during Q1, now owning 148,226 shares valued at approximately $7 million.
• Sonoco Products reported $1.37 earnings per share for the last quarter, missing expectations by 7 cents, while revenue stood at $1.91 billion.
• The company announced a quarterly dividend of $0.53 per share, which translates to an annualized yield of 4.6%.

Russell Investments Group Ltd. reduced its stake in shares of Sonoco Products Company (NYSE:SON - Free Report) by 5.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 148,226 shares of the industrial products company's stock after selling 9,140 shares during the quarter. Russell Investments Group Ltd. owned 0.15% of Sonoco Products worth $7,002,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of SON. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Sonoco Products by 508.1% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 900 shares of the industrial products company's stock valued at $43,000 after purchasing an additional 752 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Sonoco Products by 152.7% in the first quarter. UMB Bank n.a. now owns 950 shares of the industrial products company's stock valued at $45,000 after purchasing an additional 574 shares in the last quarter. Quarry LP lifted its holdings in shares of Sonoco Products by 111.3% in the fourth quarter. Quarry LP now owns 970 shares of the industrial products company's stock valued at $47,000 after purchasing an additional 511 shares in the last quarter. Colonial Trust Co SC lifted its holdings in shares of Sonoco Products by 90.6% in the fourth quarter. Colonial Trust Co SC now owns 953 shares of the industrial products company's stock valued at $47,000 after purchasing an additional 453 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of Sonoco Products by 152.0% in the first quarter. Allworth Financial LP now owns 1,071 shares of the industrial products company's stock valued at $50,000 after purchasing an additional 646 shares in the last quarter. Hedge funds and other institutional investors own 77.69% of the company's stock.

Wall Street Analysts Forecast Growth

SON has been the topic of several recent research reports. UBS Group upped their price target on shares of Sonoco Products from $48.00 to $50.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Raymond James Financial upped their price objective on shares of Sonoco Products from $50.00 to $55.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Wall Street Zen raised shares of Sonoco Products from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. Truist Financial upped their price objective on shares of Sonoco Products from $53.00 to $58.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Finally, Wells Fargo & Company raised shares of Sonoco Products from an "underweight" rating to an "overweight" rating and upped their price objective for the company from $45.00 to $55.00 in a research note on Friday, May 23rd. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.63.

Sonoco Products Stock Performance

NYSE:SON opened at $45.9280 on Thursday. 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 company has a market cap of $4.53 billion, a P/E ratio of 8.23, a P/E/G ratio of 0.62 and a beta of 0.69. Sonoco Products Company has a fifty-two week low of $39.46 and a fifty-two week high of $56.77. The firm's 50 day moving average is $45.63 and its two-hundred day moving average is $45.73.

Sonoco Products (NYSE:SON - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $1.37 earnings per share for the quarter, missing analysts' consensus estimates of $1.44 by ($0.07). The company had revenue of $1.91 billion for 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 revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.28 EPS. Sonoco Products has set its FY 2025 guidance at 6.000-6.2 EPS. Analysts expect that Sonoco Products Company will post 6.1 EPS for the current year.

Sonoco Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th will be given a $0.53 dividend. The ex-dividend date of this dividend 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 presently 37.99%.

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.

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