Sonoco Products Company $SON Shares Sold by SG Americas Securities LLC

Key Points

• SG Americas Securities LLC reduced its Sonoco Products stake by 54.8% in the first quarter, selling 399,166 shares and ending with 328,972 shares worth about $17.8 million.
• Sonoco reported mixed quarterly results, with EPS of $1.20 missing estimates and revenue of $1.68 billion below expectations; the company also reaffirmed FY 2026 EPS guidance of 5.8 to 6.2.
• The board raised the quarterly dividend to $0.54 per share, implying an annualized yield of about 4.0%, while analysts currently have a consensus Hold rating with an average price target of $60.11.

SG Americas Securities LLC cut its holdings in shares of Sonoco Products Company (NYSE:SON - Free Report) by 54.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 328,972 shares of the industrial products company's stock after selling 399,166 shares during the quarter. SG Americas Securities LLC owned 0.33% of Sonoco Products worth $17,794,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SON. IVC Wealth Advisors LLC grew its holdings in Sonoco Products by 10.5% during the first quarter. IVC Wealth Advisors LLC now owns 6,835 shares of the industrial products company's stock worth $370,000 after acquiring an additional 650 shares during the period. Hsbc Holdings PLC lifted its position in shares of Sonoco Products by 5.2% during the 4th quarter. Hsbc Holdings PLC now owns 6,073 shares of the industrial products company's stock valued at $265,000 after buying an additional 299 shares in the last quarter. Anchor Investment Management LLC grew its stake in Sonoco Products by 1.1% in the 4th quarter. Anchor Investment Management LLC now owns 42,332 shares of the industrial products company's stock valued at $1,847,000 after acquiring an additional 453 shares during the period. Invesco Ltd. increased its holdings in Sonoco Products by 13.5% in the 4th quarter. Invesco Ltd. now owns 1,498,703 shares of the industrial products company's stock worth $65,403,000 after acquiring an additional 178,638 shares in the last quarter. Finally, Ameriflex Group Inc. increased its holdings in Sonoco Products by 82.1% in the 4th quarter. Ameriflex Group Inc. now owns 1,639 shares of the industrial products company's stock worth $72,000 after acquiring an additional 739 shares in the last quarter. 77.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SON has been the topic of several research analyst reports. Wall Street Zen lowered shares of Sonoco Products from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Sonoco Products in a research note on Wednesday, April 1st. They issued a "buy" rating and a $63.00 price target on the stock. Citigroup lowered their price objective on Sonoco Products from $70.00 to $63.00 and set a "buy" rating on the stock in a report on Thursday, April 23rd. Robert W. Baird reduced their target price on Sonoco Products from $60.00 to $55.00 and set a "neutral" rating for the company in a report on Thursday, April 23rd. Finally, Bank of America reissued a "buy" rating on shares of Sonoco Products in a report on Wednesday, April 22nd. Five analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, Sonoco Products has a consensus rating of "Hold" and an average target price of $60.11.

Insiders Place Their Bets

In related news, insider James A. Harrell III bought 6,753 shares of the company's stock in a transaction on Monday, April 27th. The stock was bought at an average cost of $50.37 per share, for a total transaction of $340,148.61. Following the acquisition, the insider directly owned 10,070 shares in the company, valued at $507,225.90. This represents a 203.59% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Paul Joachimczyk purchased 8,058 shares of Sonoco Products stock in a transaction dated Friday, April 24th. The shares were bought at an average price of $49.64 per share, for a total transaction of $399,999.12. Following the acquisition, the chief financial officer owned 28,558 shares in the company, valued at approximately $1,417,619.12. This trade represents a 39.31% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.98% of the company's stock.

Sonoco Products Price Performance

Sonoco Products stock opened at $54.27 on Friday. The company has a fifty day simple moving average of $50.35 and a 200-day simple moving average of $50.19. The firm has a market capitalization of $5.37 billion, a price-to-earnings ratio of 5.32, a PEG ratio of 1.12 and a beta of 0.39. The company has a quick ratio of 0.54, a current ratio of 0.96 and a debt-to-equity ratio of 0.97. Sonoco Products Company has a 52-week low of $38.65 and a 52-week high of $58.44.

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 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 analysts' expectations of $1.88 billion. Sonoco Products had a return on equity of 16.50% and a net margin of 13.57%.The business's quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.38 earnings per share. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. On average, equities analysts anticipate that Sonoco Products Company will post 5.81 EPS for the current fiscal year.

Sonoco Products Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 8th were given a dividend of $0.54 per share. The ex-dividend date was Friday, May 8th. This is a positive change from Sonoco Products's previous quarterly dividend of $0.53. This represents a $2.16 dividend on an annualized basis and a yield of 4.0%. Sonoco Products's dividend payout ratio (DPR) is 21.18%.

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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