WBI Investments LLC Invests $1.89 Million in Sonoco Products Company $SON

Key Points

• WBI Investments LLC purchased 39,894 shares of Sonoco Products Company valued at approximately $1.885 million during the first quarter.
• Sonoco Products reported a missed earnings estimate with an EPS of $1.37, falling short of the projected $1.44, though revenue increased 17.7% year-over-year.
• The stock has received recent upgrades from several analysts, with a consensus target price of $57.63 and a "Moderate Buy" rating.

WBI Investments LLC bought a new position in shares of Sonoco Products Company (NYSE:SON - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 39,894 shares of the industrial products company's stock, valued at approximately $1,885,000.

Several other institutional investors have also added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. raised its holdings in Sonoco Products by 508.1% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 900 shares of the industrial products company's stock valued at $43,000 after acquiring an additional 752 shares in the last quarter. UMB Bank n.a. raised its holdings in Sonoco Products by 152.7% in the 1st quarter. UMB Bank n.a. now owns 950 shares of the industrial products company's stock valued at $45,000 after acquiring an additional 574 shares in the last quarter. Allworth Financial LP raised its holdings in Sonoco Products by 152.0% in the 1st quarter. Allworth Financial LP now owns 1,071 shares of the industrial products company's stock valued at $50,000 after acquiring an additional 646 shares in the last quarter. Quarry LP raised its holdings in Sonoco Products by 56.5% in the 1st quarter. Quarry LP now owns 1,518 shares of the industrial products company's stock valued at $72,000 after acquiring an additional 548 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in Sonoco Products by 474.8% in the 1st quarter. Versant Capital Management Inc now owns 2,299 shares of the industrial products company's stock valued at $109,000 after acquiring an additional 1,899 shares in the last quarter. 77.69% of the stock is currently owned by institutional investors.

Sonoco Products Trading Down 1.1%

Shares of NYSE SON traded down $0.54 during trading on Tuesday, reaching $47.18. The company had a trading volume of 263,719 shares, compared to its average volume of 866,791. The company's fifty day moving average price is $46.39 and its 200-day moving average price is $45.63. Sonoco Products Company has a 12 month low of $39.46 and a 12 month high of $56.36. The stock has a market cap of $4.65 billion, a P/E ratio of 8.46, a PEG ratio of 0.64 and a beta of 0.70. The company has a quick ratio of 0.72, a current ratio of 1.25 and a debt-to-equity ratio of 1.53.

Sonoco Products (NYSE:SON - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $1.37 EPS 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 quarter last year, the firm posted $1.28 EPS. The company's quarterly 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 expect that Sonoco Products Company will post 6.1 earnings per share for the current year.

Sonoco Products Announces Dividend

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

Wall Street Analyst Weigh In

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

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.