Fifth Third Bancorp Sells 718 Shares of Sonoco Products Company $SON

Fifth Third Bancorp lessened its stake in shares of Sonoco Products Company (NYSE:SON) by 3.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 21,703 shares of the industrial products company’s stock after selling 718 shares during the period. Fifth Third Bancorp’s holdings in Sonoco Products were worth $945,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of SON. Whittier Trust Co. of Nevada Inc. grew its holdings 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 purchasing an additional 752 shares during the period. UMB Bank n.a. boosted its stake in shares of Sonoco Products by 152.7% in the first quarter. UMB Bank n.a. now owns 950 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 574 shares during the period. Allworth Financial LP boosted its stake in shares of Sonoco Products by 152.0% in the first quarter. Allworth Financial LP now owns 1,071 shares of the industrial products company’s stock worth $50,000 after acquiring an additional 646 shares during the period. Quarry LP boosted its stake in shares of Sonoco Products by 56.5% in the first quarter. Quarry LP now owns 1,518 shares of the industrial products company’s stock worth $72,000 after acquiring an additional 548 shares during the period. Finally, Armstrong Advisory Group Inc. boosted its stake in shares of Sonoco Products by 1,458.6% in the second quarter. Armstrong Advisory Group Inc. now owns 2,260 shares of the industrial products company’s stock worth $98,000 after acquiring an additional 2,115 shares during the period. Institutional investors own 77.69% of the company’s stock.

Sonoco Products Price Performance

NYSE:SON opened at $43.90 on Monday. Sonoco Products Company has a 12 month low of $39.46 and a 12 month high of $55.33. 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 business’s 50-day moving average is $46.32 and its 200 day moving average is $45.59. The company has a market capitalization of $4.33 billion, a P/E ratio of 7.87, a P/E/G ratio of 0.59 and a beta of 0.70.

Sonoco Products (NYSE:SON) last issued its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $1.37 earnings per share (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 for the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter last year, the company earned $1.28 earnings per share. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. Sonoco Products has set its FY 2025 guidance at 6.000-6.2 EPS. On average, equities research analysts forecast that Sonoco Products Company will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders 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 dividend on an annualized basis and a yield of 4.8%. Sonoco Products’s dividend payout ratio is 37.99%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. UBS Group upped their price objective 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 upped their price objective 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, Truist Financial upped their price objective on Sonoco Products from $53.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.