UniSuper Management Pty Ltd Acquires New Stake 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 acquired 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 Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 18,282 shares of the industrial products company's stock, valued at approximately $864,000.

Other large investors also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. boosted its stake in Sonoco Products by 508.1% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 900 shares of the industrial products company's stock valued at $43,000 after buying an additional 752 shares during the period. UMB Bank n.a. boosted its stake in Sonoco Products by 152.7% during the first quarter. UMB Bank n.a. now owns 950 shares of the industrial products company's stock valued at $45,000 after buying an additional 574 shares during the period. Allworth Financial LP lifted its stake in Sonoco Products by 152.0% during the first quarter. Allworth Financial LP now owns 1,071 shares of the industrial products company's stock worth $50,000 after purchasing an additional 646 shares during the last quarter. Quarry LP lifted its stake in Sonoco Products by 56.5% during the first quarter. Quarry LP now owns 1,518 shares of the industrial products company's stock worth $72,000 after purchasing an additional 548 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in Sonoco Products by 474.8% during the first quarter. Versant Capital Management Inc now owns 2,299 shares of the industrial products company's stock worth $109,000 after purchasing an additional 1,899 shares during the last quarter. Institutional investors own 77.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Raymond James Financial lifted 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. Wells Fargo & Company raised Sonoco Products from an "underweight" rating to an "overweight" rating and lifted their price target for the stock from $45.00 to $55.00 in a research note on Friday, May 23rd. Truist Financial boosted their price objective on shares of Sonoco Products from $53.00 to $58.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Finally, UBS Group boosted their price objective on shares of Sonoco Products from $48.00 to $50.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Sonoco Products has a consensus rating of "Moderate Buy" and a consensus target price of $57.63.

Sonoco Products Trading Up 0.7%

NYSE SON opened at $46.03 on Thursday. Sonoco Products Company has a 1-year low of $39.46 and a 1-year high of $56.36. The company has a current ratio of 1.25, a quick ratio of 0.72 and a debt-to-equity ratio of 1.53. The stock has a 50-day moving average of $46.32 and a 200-day moving average of $45.63. The firm has a market cap of $4.54 billion, a PE ratio of 8.25, a price-to-earnings-growth ratio of 0.61 and a beta of 0.70.

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 analysts' consensus estimates of $1.44 by ($0.07). Sonoco Products had a net margin of 8.35% and a return on equity of 20.46%. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same period last year, the firm posted $1.28 EPS. The company'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, sell-side analysts forecast that Sonoco Products Company will post 6.1 EPS for the current year.

Sonoco Products Dividend Announcement

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

Sonoco Products 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.

Want to see what other hedge funds are holding SON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sonoco Products Company (NYSE:SON - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.