Sonoco Products Company $SON Shares Sold by Steel Grove Capital Advisors LLC

Key Points

• Steel Grove Capital Advisors sharply cut its Sonoco Products stake by 85.8% in the fourth quarter, selling 32,848 shares and leaving it with 5,423 shares worth about $237,000.
• Sonoco reported weaker-than-expected Q1 results, posting EPS of $1.20 versus the $1.57 consensus and revenue of $1.68 billion versus $1.88 billion expected, while reaffirming FY2026 EPS guidance of 5.8 to 6.2.
• The company raised its quarterly dividend to $0.54 per share, bringing the annualized payout to $2.16 and a yield of about 4.3%.

Steel Grove Capital Advisors LLC reduced its stake in shares of Sonoco Products Company (NYSE:SON - Free Report) by 85.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,423 shares of the industrial products company's stock after selling 32,848 shares during the period. Steel Grove Capital Advisors LLC's holdings in Sonoco Products were worth $237,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. raised its holdings in Sonoco Products by 77.7% in the 4th quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 258 shares during the last quarter. LRI Investments LLC acquired a new position in Sonoco Products in the 4th quarter valued at $29,000. Cornerstone Planning Group LLC acquired a new position in Sonoco Products in the 3rd quarter valued at $29,000. Ameriflex Group Inc. raised its holdings in 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 acquiring an additional 834 shares during the last quarter. Finally, Larson Financial Group LLC raised its holdings in 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 acquiring an additional 950 shares during the last quarter. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Sonoco Products Trading Up 0.3%

SON stock opened at $49.87 on Thursday. The company has a market cap of $4.93 billion, a price-to-earnings ratio of 4.89, a PEG ratio of 1.04 and a beta of 0.40. The company has a quick ratio of 0.54, a current ratio of 0.96 and a debt-to-equity ratio of 0.97. The business has a fifty day simple moving average of $51.99 and a 200-day simple moving average of $48.86. 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 released its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $1.20 EPS for the quarter, missing analysts' consensus estimates of $1.57 by ($0.37). The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.88 billion. Sonoco Products had a return on equity of 16.50% and a net margin of 13.57%.The company's quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.38 earnings per share. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. On average, equities research analysts expect that Sonoco Products Company will post 5.81 EPS for the current year.

Sonoco Products Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 8th will be given a dividend of $0.54 per share. This is a positive change from Sonoco Products's previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, May 8th. This represents a $2.16 dividend on an annualized basis and a yield of 4.3%. Sonoco Products's dividend payout ratio is currently 21.18%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SON shares. Weiss Ratings downgraded Sonoco Products from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, May 15th. Citigroup cut their price target on Sonoco Products from $70.00 to $63.00 and set a "buy" rating for the company in a report on Thursday, April 23rd. Wall Street Zen downgraded Sonoco Products from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. UBS Group cut their price target on Sonoco Products from $62.00 to $59.00 and set a "neutral" rating for the company in a report on Friday, April 10th. Finally, Argus upgraded Sonoco Products to a "hold" rating in a report on Monday, April 20th. Five investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $60.11.

Insider Buying and Selling

In other news, CFO Paul Joachimczyk acquired 8,058 shares of the firm's stock in a transaction on Friday, April 24th. The stock was bought at an average cost of $49.64 per share, with a total value of $399,999.12. Following the transaction, the chief financial officer directly owned 28,558 shares in the company, valued at approximately $1,417,619.12. This represents a 39.31% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction, the insider directly owned 9,377 shares of the company's stock, valued at approximately $528,769.03. The trade was a 14.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.98% of the stock is owned by corporate insiders.

Sonoco Products Company 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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