Signaturefd LLC Sells 335 Shares of Sonoco Products Company $SON

Signaturefd LLC cut its position in Sonoco Products Company (NYSE:SON) by 10.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,996 shares of the industrial products company’s stock after selling 335 shares during the quarter. Signaturefd LLC’s holdings in Sonoco Products were worth $131,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its position in shares of Sonoco Products by 14.4% in the first quarter. Dimensional Fund Advisors LP now owns 3,591,263 shares of the industrial products company’s stock valued at $169,646,000 after purchasing an additional 450,792 shares in the last quarter. Earnest Partners LLC grew its position in Sonoco Products by 2.3% during the first quarter. Earnest Partners LLC now owns 2,655,347 shares of the industrial products company’s stock worth $125,439,000 after buying an additional 60,746 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its position in Sonoco Products by 9.8% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,308,939 shares of the industrial products company’s stock worth $109,074,000 after buying an additional 206,749 shares in the last quarter. Invesco Ltd. grew its position in Sonoco Products by 3.2% during the first quarter. Invesco Ltd. now owns 1,401,051 shares of the industrial products company’s stock worth $66,186,000 after buying an additional 43,049 shares in the last quarter. Finally, Millennium Management LLC grew its position in Sonoco Products by 739.7% during the first quarter. Millennium Management LLC now owns 1,152,506 shares of the industrial products company’s stock worth $54,444,000 after buying an additional 1,015,250 shares in the last quarter. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Sonoco Products Stock Up 0.5%

Shares of NYSE SON opened at $43.32 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.25 and a quick ratio of 0.72. The company has a market cap of $4.27 billion, a P/E ratio of 7.76, a PEG ratio of 0.58 and a beta of 0.68. Sonoco Products Company has a 1 year low of $39.46 and a 1 year high of $55.33. The firm has a 50-day simple moving average of $45.84 and a two-hundred day simple moving average of $45.47.

Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.07). The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.92 billion. Sonoco Products had a return on equity of 20.46% and a net margin of 8.35%.The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.28 EPS. Sonoco Products has set its FY 2025 guidance at 6.000-6.2 EPS. Research analysts anticipate that Sonoco Products Company will post 6.1 earnings per share for the current year.

Sonoco Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were paid a $0.53 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $2.12 annualized dividend and a yield of 4.9%. Sonoco Products’s dividend payout ratio (DPR) is presently 37.99%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Citigroup reduced their target price on Sonoco Products from $56.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, September 29th. Weiss Ratings restated a “hold (c-)” rating on shares of Sonoco Products in a research report on Saturday, September 27th. UBS Group boosted 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. Truist Financial boosted 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, Raymond James Financial boosted their target price on Sonoco Products from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Sonoco Products presently has an average rating of “Moderate Buy” and a consensus target price of $57.63.

Sonoco Products Company 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.