UniSuper Management Pty Ltd Invests $864,000 in Sonoco Products Company $SON

Key Points

• UniSuper Management Pty Ltd recently acquired 18,282 shares of Sonoco Products Company, amounting to approximately $864,000, as revealed in their SEC filing.
• Multiple institutional investors have increased their stakes in Sonoco Products, with notable increases by Whittier Trust Co. and UMB Bank, indicating strong investor confidence.
• Analysts have raised their price targets for Sonoco Products, with a consensus target price of $57.63 and a "Moderate Buy" rating, suggesting positive growth expectations.

UniSuper Management Pty Ltd purchased a new stake in shares of Sonoco Products Company (NYSE:SON - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 18,282 shares of the industrial products company's stock, valued at approximately $864,000.

Several other institutional investors have also added to or reduced their stakes in the company. PharVision Advisers LLC grew its holdings in Sonoco Products by 16.2% during the 1st quarter. PharVision Advisers LLC now owns 4,772 shares of the industrial products company's stock valued at $225,000 after buying an additional 666 shares in the last quarter. Mork Capital Management LLC purchased a new position in shares of Sonoco Products in the 1st quarter worth approximately $945,000. Millennium Management LLC boosted its holdings in shares of Sonoco Products by 739.7% in the 1st quarter. Millennium Management LLC now owns 1,152,506 shares of the industrial products company's stock worth $54,444,000 after purchasing an additional 1,015,250 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Sonoco Products by 44.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,093 shares of the industrial products company's stock worth $2,319,000 after purchasing an additional 15,079 shares during the period. Finally, Invenomic Capital Management LP boosted its holdings in shares of Sonoco Products by 20.4% in the 1st quarter. Invenomic Capital Management LP now owns 802,195 shares of the industrial products company's stock worth $37,896,000 after purchasing an additional 135,765 shares during the period. Hedge funds and other institutional investors own 77.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SON. Truist Financial raised their price target on Sonoco Products from $53.00 to $58.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. UBS Group raised their price target on Sonoco Products from $48.00 to $50.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Raymond James Financial raised their price target on Sonoco Products from $50.00 to $55.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Finally, Wells Fargo & Company raised Sonoco Products from an "underweight" rating to an "overweight" rating and raised their price target for the stock from $45.00 to $55.00 in a research note on Friday, May 23rd. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $57.63.

Sonoco Products Stock Down 1.1%

NYSE SON traded down $0.53 on Tuesday, reaching $47.19. 904,283 shares of the stock traded hands, compared to its average volume of 905,563. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.72 and a current ratio of 1.25. The company has a fifty day moving average price of $46.40 and a 200-day moving average price of $45.64. The company has a market cap 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 12 month low of $39.46 and a 12 month high of $56.36.

Sonoco Products (NYSE:SON - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The industrial products company reported $1.37 earnings per share for the quarter, missing analysts' consensus estimates of $1.44 by ($0.07). The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.92 billion. Sonoco Products had a net margin of 8.35% and a return on equity of 20.46%. The company's revenue for the quarter was up 17.7% on a year-over-year basis. During the same period last year, the firm earned $1.28 earnings per share. 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 EPS for the current fiscal year.

Sonoco Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Friday, August 8th. Sonoco Products's payout ratio is presently 37.99%.

About Sonoco Products

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.