Sound Income Strategies LLC Sells 18,472 Shares of Sonoco Products Company $SON

Key Points

• Sound Income Strategies LLC reduced its Sonoco Products stake by 5.6% in the first quarter, selling 18,472 shares and leaving it with 311,777 shares valued at about $17.2 million.
• Sonoco Products recently reported weaker-than-expected quarterly results, with EPS of $1.20 versus the $1.57 estimate and revenue of $1.68 billion versus $1.88 billion expected.
• The company raised its quarterly dividend to $0.54 per share, implying an annualized yield of about 3.8%, while analyst sentiment remains mixed with a consensus rating of Hold.

Sound Income Strategies LLC trimmed its position in shares of Sonoco Products Company (NYSE:SON - Free Report) by 5.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 311,777 shares of the industrial products company's stock after selling 18,472 shares during the period. Sound Income Strategies LLC owned 0.32% of Sonoco Products worth $17,201,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. grew its position in shares of 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 period. LRI Investments LLC bought a new stake in shares of Sonoco Products in the 4th quarter valued at about $29,000. Ameriflex Group Inc. raised its holdings in shares of 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 purchasing an additional 834 shares during the period. Larson Financial Group LLC lifted its stake 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 purchasing an additional 950 shares during the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new stake in Sonoco Products in the 4th quarter valued at about $47,000. 77.69% of the stock is owned by institutional investors.

Insider Buying and Selling at Sonoco Products

In other news, CFO Paul Joachimczyk bought 8,058 shares of the company's stock in a transaction dated Friday, April 24th. The stock was bought at an average price of $49.64 per share, with a total value of $399,999.12. Following the completion of the acquisition, the chief financial officer owned 28,558 shares of the company's stock, valued at $1,417,619.12. This represents a 39.31% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider James A. Harrell III bought 6,753 shares of Sonoco Products stock in a transaction dated Monday, April 27th. The stock was acquired at an average cost of $50.37 per share, with a total value of $340,148.61. Following the transaction, the insider owned 10,070 shares of the company's stock, valued at $507,225.90. This trade represents a 203.59% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.98% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Raymond James Financial reissued a "market perform" rating on shares of Sonoco Products in a research report on Friday, March 6th. Truist Financial reiterated a "buy" rating and set a $65.00 target price (down from $68.00) on shares of Sonoco Products in a research note on Tuesday, April 28th. Weiss Ratings raised Sonoco Products from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday. Robert W. Baird dropped their price target on Sonoco Products from $60.00 to $55.00 and set a "neutral" rating on the stock in a research note on Thursday, April 23rd. Finally, Argus raised Sonoco Products to a "hold" rating in a report on Monday, April 20th. Five analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $60.11.

Sonoco Products Stock Up 2.3%

Sonoco Products stock opened at $57.45 on Friday. The stock has a market cap of $5.68 billion, a P/E ratio of 5.63, a P/E/G ratio of 1.18 and a beta of 0.37. 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 twelve month low of $38.65 and a twelve month high of $58.44. The company's 50-day moving average price is $50.34 and its two-hundred day moving average price is $50.70.

Sonoco Products (NYSE:SON - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.37). Sonoco Products had a return on equity of 16.50% and a net margin of 13.57%.The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the business earned $1.38 earnings per share. The company's revenue was down 1.9% on a year-over-year basis. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. As a group, analysts expect that Sonoco Products Company will post 5.81 EPS for the current year.

Sonoco Products Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 8th were paid a $0.54 dividend. This is a boost from Sonoco Products's previous quarterly dividend of $0.53. The ex-dividend date was Friday, May 8th. This represents a $2.16 annualized dividend and a yield of 3.8%. Sonoco Products's dividend payout ratio is presently 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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