Voya Investment Management LLC Has $8.12 Million Position in Sonoco Products Company $SON

Key Points

• Voya Investment Management LLC reduced its stake in Sonoco Products Company by 10.2%, holding 171,979 shares valued at $8,124,000 after selling 19,448 shares in the first quarter.
• Analysts have shown significant optimism regarding Sonoco Products, with upgrades from Wells Fargo & Company and others, raising the target stock price to between $50.00 and $58.00.
• Sonoco Products announced a quarterly dividend of $0.53 per share, representing a dividend yield of 4.5% and a payout ratio of 37.99%.

Voya Investment Management LLC reduced its position in shares of Sonoco Products Company (NYSE:SON - Free Report) by 10.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 171,979 shares of the industrial products company's stock after selling 19,448 shares during the quarter. Voya Investment Management LLC owned about 0.17% of Sonoco Products worth $8,124,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SON. Janus Henderson Group PLC lifted its position in shares of Sonoco Products by 5.9% during the 4th quarter. Janus Henderson Group PLC now owns 43,287 shares of the industrial products company's stock valued at $2,113,000 after acquiring an additional 2,400 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Sonoco Products by 16.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,014 shares of the industrial products company's stock valued at $1,662,000 after acquiring an additional 4,832 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Sonoco Products during the 4th quarter valued at $637,000. Tidal Investments LLC lifted its position in shares of Sonoco Products by 35.8% during the 4th quarter. Tidal Investments LLC now owns 35,228 shares of the industrial products company's stock valued at $1,721,000 after acquiring an additional 9,287 shares during the last quarter. Finally, Vident Advisory LLC lifted its position in shares of Sonoco Products by 88.0% during the 4th quarter. Vident Advisory LLC now owns 7,270 shares of the industrial products company's stock valued at $355,000 after acquiring an additional 3,402 shares during the last quarter. 77.69% of the stock is owned by institutional investors.

Sonoco Products Stock Down 1.5%

Shares of NYSE:SON traded down $0.70 during midday trading on Friday, hitting $46.32. 1,544,193 shares of the stock were exchanged, compared to its average volume of 961,785. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.72 and a current ratio of 1.25. Sonoco Products Company has a 52-week low of $39.46 and a 52-week high of $55.33. The business's fifty day simple moving average is $46.41 and its two-hundred day simple moving average is $45.63. The company has a market capitalization of $4.57 billion, a PE ratio of 8.30, a P/E/G ratio of 0.62 and a beta of 0.70.

Sonoco Products (NYSE:SON - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.07). Sonoco Products had a return on equity of 20.46% and a net margin of 8.35%.The firm had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.92 billion. During the same quarter in the prior year, the business posted $1.28 earnings per share. Sonoco Products's revenue was up 17.7% on a year-over-year basis. Sonoco Products has set its FY 2025 guidance at 6.000-6.2 EPS. As a group, research analysts predict that Sonoco Products Company will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Friday, August 8th. Sonoco Products's dividend payout ratio is presently 37.99%.

Analyst Ratings Changes

A number of brokerages have recently commented on SON. UBS Group increased their price objective on Sonoco Products from $48.00 to $50.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Truist Financial increased their price objective on Sonoco Products from $53.00 to $58.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Finally, Raymond James Financial increased their target price on Sonoco Products from $50.00 to $55.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.