Geode Capital Management LLC Raises Stock Holdings in Sonoco Products Company $SON

Geode Capital Management LLC boosted its holdings in Sonoco Products Company (NYSE:SON) by 3.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,829,794 shares of the industrial products company’s stock after purchasing an additional 53,540 shares during the period. Geode Capital Management LLC’s holdings in Sonoco Products were worth $79,869,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SON. SBI Securities Co. Ltd. lifted its holdings in Sonoco Products by 77.7% during the 4th quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company’s stock worth $26,000 after buying an additional 258 shares during the last quarter. LRI Investments LLC bought a new position in Sonoco Products during the 4th quarter worth approximately $29,000. Ameriflex Group Inc. lifted its holdings in Sonoco Products by 1,263.6% during the 3rd quarter. Ameriflex Group Inc. now owns 900 shares of the industrial products company’s stock worth $39,000 after buying an additional 834 shares during the last quarter. Larson Financial Group LLC lifted its holdings in Sonoco Products by 1,826.9% during the 3rd quarter. Larson Financial Group LLC now owns 1,002 shares of the industrial products company’s stock worth $43,000 after buying an additional 950 shares during the last quarter. Finally, Cullen Frost Bankers Inc. bought a new position in Sonoco Products during the 4th quarter worth approximately $47,000. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Insider Buying and Selling

In other Sonoco Products news, CFO Paul Joachimczyk bought 8,058 shares of the stock in a transaction that occurred on Friday, April 24th. The shares were purchased at an average cost of $49.64 per share, for a total transaction of $399,999.12. Following the transaction, the chief financial officer directly owned 28,558 shares in the company, valued at $1,417,619.12. The trade was a 39.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James A. Harrell III bought 6,753 shares of the stock in a transaction that occurred on Monday, April 27th. The stock was acquired at an average price of $50.37 per share, for a total transaction of $340,148.61. Following the completion of the transaction, the insider owned 10,070 shares in the company, valued at $507,225.90. This trade represents a 203.59% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.98% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on SON shares. Weiss Ratings downgraded Sonoco Products from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 15th. Robert W. Baird reduced their target price on Sonoco Products from $60.00 to $55.00 and set a “neutral” rating on the stock in a report on Thursday, April 23rd. Truist Financial reaffirmed a “buy” rating and set a $65.00 target price (down from $68.00) on shares of Sonoco Products in a report on Tuesday, April 28th. Wells Fargo & Company reduced their target price on Sonoco Products from $60.00 to $56.00 and set an “equal weight” rating on the stock in a report on Friday, March 20th. Finally, Argus raised Sonoco Products to a “hold” rating in a report on Monday, April 20th. Five equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, Sonoco Products presently has a consensus rating of “Hold” and a consensus price target of $60.11.

Sonoco Products Stock Down 0.1%

Shares of Sonoco Products stock opened at $47.45 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.54 and a debt-to-equity ratio of 0.97. The business’s 50 day simple moving average is $51.46 and its 200-day simple moving average is $49.25. The stock has a market capitalization of $4.69 billion, a price-to-earnings ratio of 4.65, a PEG ratio of 1.00 and a beta of 0.39. Sonoco Products Company has a twelve month low of $38.65 and a twelve month high of $58.44.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Tuesday, April 21st. The industrial products company reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.37). The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.88 billion. Sonoco Products had a return on equity of 16.50% and a net margin of 13.57%.The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.38 earnings per share. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. Equities research analysts forecast that Sonoco Products Company will post 5.81 earnings per share for the current year.

Sonoco Products Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Friday, May 8th. This is a positive change from Sonoco Products’s previous quarterly dividend of $0.53. Sonoco Products’s payout ratio is currently 21.18%.

About Sonoco Products

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.