Sonoco Products Company $SON Shares Sold by Truvestments Capital LLC

Key Points

• Truvestments Capital LLC significantly reduced its holdings in Sonoco Products by 62.9%, now possessing 17,300 shares worth approximately $817,000.
• Several other institutional investors have increased their stakes, with Whittier Trust Co. raising its holdings by 508.1% during the same period.
• Analyst ratings for Sonoco Products have improved, with Wells Fargo upgraded the stock from "underweight" to "overweight" and raised its price target to $55.00.

Truvestments Capital LLC lessened its position in Sonoco Products Company (NYSE:SON - Free Report) by 62.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,300 shares of the industrial products company's stock after selling 29,282 shares during the quarter. Truvestments Capital LLC's holdings in Sonoco Products were worth $817,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Beverly Hills Private Wealth LLC lifted its holdings in Sonoco Products by 4.1% during the 1st quarter. Beverly Hills Private Wealth LLC now owns 5,669 shares of the industrial products company's stock valued at $268,000 after buying an additional 224 shares in the last quarter. CW Advisors LLC lifted its holdings in Sonoco Products by 1.5% during the 1st quarter. CW Advisors LLC now owns 14,791 shares of the industrial products company's stock valued at $699,000 after buying an additional 224 shares in the last quarter. Federated Hermes Inc. lifted its holdings in Sonoco Products by 2.5% during the 1st quarter. Federated Hermes Inc. now owns 9,304 shares of the industrial products company's stock valued at $440,000 after buying an additional 230 shares in the last quarter. IVC Wealth Advisors LLC lifted its holdings in Sonoco Products by 4.6% during the 1st quarter. IVC Wealth Advisors LLC now owns 6,542 shares of the industrial products company's stock valued at $309,000 after buying an additional 288 shares in the last quarter. Finally, State of Michigan Retirement System lifted its holdings in Sonoco Products by 1.3% during the 1st quarter. State of Michigan Retirement System now owns 23,551 shares of the industrial products company's stock valued at $1,113,000 after buying an additional 300 shares in the last quarter. Institutional investors own 77.69% of the company's stock.

Sonoco Products Stock Performance

NYSE:SON traded up $0.45 during trading hours on Monday, hitting $47.19. 1,733,012 shares of the company were exchanged, compared to its average volume of 753,846. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of 8.46, a PEG ratio of 0.64 and a beta of 0.70. Sonoco Products Company has a 52-week low of $39.46 and a 52-week high of $56.77. 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 company's 50 day moving average price is $46.04 and its 200-day moving average price is $45.67.

Sonoco Products (NYSE:SON - Get Free Report) last released its earnings results 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 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 firm's revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.28 EPS. Sonoco Products has set its FY 2025 guidance at 6.000-6.2 EPS. As a group, research analysts forecast that Sonoco Products Company will post 6.1 earnings per share for the current year.

Sonoco Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Friday, August 8th. Sonoco Products's payout ratio is currently 37.99%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SON. Raymond James Financial boosted their price target on shares of Sonoco Products from $50.00 to $55.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Wall Street Zen upgraded shares of Sonoco Products from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Truist Financial boosted their price target on shares of Sonoco Products from $53.00 to $58.00 and gave the company a "buy" rating in a report on Friday, July 25th. Wells Fargo & Company upgraded shares of Sonoco Products from an "underweight" rating to an "overweight" rating and boosted their price target for the company from $45.00 to $55.00 in a report on Friday, May 23rd. Finally, UBS Group boosted 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. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $57.63.

Sonoco Products Company Profile

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.