Public Employees Retirement System of Ohio Sells 3,253 Shares of Sonoco Products Company $SON

Public Employees Retirement System of Ohio lessened its holdings in Sonoco Products Company (NYSE:SON) by 9.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,567 shares of the industrial products company’s stock after selling 3,253 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Sonoco Products were worth $1,331,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in SON. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of 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. raised its holdings in 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 purchasing an additional 574 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Sonoco Products by 152.0% during the first 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 increased its holdings in shares of Sonoco Products by 56.5% during the first 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, Armstrong Advisory Group Inc. increased its holdings in shares of Sonoco Products by 1,458.6% during the second quarter. Armstrong Advisory Group Inc. now owns 2,260 shares of the industrial products company’s stock valued at $98,000 after acquiring an additional 2,115 shares in the last quarter. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Sonoco Products Trading Up 0.5%

Shares of NYSE:SON opened at $43.32 on Friday. The business’s 50-day moving average is $45.84 and its 200 day moving average is $45.45. Sonoco Products Company has a 1 year low of $39.46 and a 1 year high of $55.33. The firm has a market capitalization of $4.27 billion, a P/E ratio of 7.76, a P/E/G ratio of 0.58 and a beta of 0.68. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.25 and a quick ratio of 0.72.

Sonoco Products (NYSE:SON) last announced its earnings results 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). Sonoco Products had a net margin of 8.35% and a return on equity of 20.46%. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period in the prior year, the company earned $1.28 earnings per share. 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. On average, research analysts predict that Sonoco Products Company will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on SON. Raymond James Financial raised 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. Citigroup reduced their price objective on Sonoco Products from $56.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, September 29th. Truist Financial lifted their target price on Sonoco Products from $53.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Sonoco Products in a report on Saturday, September 27th. Finally, UBS Group boosted their price objective on Sonoco Products from $48.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.