WBI Investments LLC Buys Shares of 39,894 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 stake in shares of Sonoco Products Company (NYSE:SON - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 39,894 shares of the industrial products company's stock, valued at approximately $1,885,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Beverly Hills Private Wealth LLC grew its stake in shares of Sonoco Products by 4.1% in the 1st quarter. Beverly Hills Private Wealth LLC now owns 5,669 shares of the industrial products company's stock valued at $268,000 after buying an additional 224 shares in the last quarter. CW Advisors LLC grew its stake in shares of Sonoco Products by 1.5% in the 1st quarter. CW Advisors LLC now owns 14,791 shares of the industrial products company's stock valued at $699,000 after buying an additional 224 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Sonoco Products by 2.5% in the 1st quarter. Federated Hermes Inc. now owns 9,304 shares of the industrial products company's stock valued at $440,000 after buying an additional 230 shares in the last quarter. IVC Wealth Advisors LLC grew its stake in shares of Sonoco Products by 4.6% in the 1st quarter. IVC Wealth Advisors LLC now owns 6,542 shares of the industrial products company's stock valued at $309,000 after buying an additional 288 shares in the last quarter. Finally, State of Michigan Retirement System grew its stake in shares of Sonoco Products by 1.3% in the 1st quarter. State of Michigan Retirement System now owns 23,551 shares of the industrial products company's stock valued at $1,113,000 after buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 77.69% of the company's stock.

Sonoco Products Stock Up 0.7%

Shares of Sonoco Products stock opened at $46.03 on Thursday. The stock has a market capitalization of $4.54 billion, a P/E ratio of 8.25, a PEG ratio of 0.61 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. The stock has a 50 day moving average price of $46.32 and a two-hundred day moving average price of $45.63. 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 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 return on equity of 20.46% and a net margin of 8.35%.The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter last year, the firm earned $1.28 earnings per share. The firm's quarterly revenue was up 17.7% compared to the same quarter last year. Sonoco Products has set its FY 2025 guidance at 6.000-6.2 EPS. Equities analysts expect that Sonoco Products Company will post 6.1 earnings per share for the current year.

Sonoco Products Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

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