ING Groep NV Decreases Stake in Sonoco Products Company $SON

ING Groep NV lessened its stake in shares of Sonoco Products Company (NYSE:SON) by 72.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,500 shares of the industrial products company’s stock after selling 65,900 shares during the quarter. ING Groep NV’s holdings in Sonoco Products were worth $1,069,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Parallel Advisors LLC raised its holdings in Sonoco Products by 73.5% during the 4th quarter. Parallel Advisors LLC now owns 1,320 shares of the industrial products company’s stock valued at $58,000 after buying an additional 559 shares during the last quarter. State of Wyoming grew its holdings in Sonoco Products by 201.6% in the 4th quarter. State of Wyoming now owns 2,642 shares of the industrial products company’s stock worth $115,000 after acquiring an additional 1,766 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Sonoco Products in the fourth quarter valued at about $375,000. Bank of New York Mellon Corp increased its position in shares of Sonoco Products by 10.0% in the fourth quarter. Bank of New York Mellon Corp now owns 1,104,733 shares of the industrial products company’s stock valued at $48,211,000 after acquiring an additional 100,066 shares during the period. Finally, Natixis Advisors LLC raised its stake in shares of Sonoco Products by 18.6% during the fourth quarter. Natixis Advisors LLC now owns 326,547 shares of the industrial products company’s stock valued at $14,251,000 after acquiring an additional 51,273 shares during the last quarter. Institutional investors own 77.69% of the company’s stock.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SON. Bank of America reiterated a “buy” rating on shares of Sonoco Products in a report on Wednesday, April 22nd. Citigroup reduced their price target on Sonoco Products from $70.00 to $63.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Raymond James Financial reiterated a “market perform” rating on shares of Sonoco Products in a report on Friday, March 6th. Deutsche Bank Aktiengesellschaft assumed coverage on Sonoco Products in a research report on Wednesday, April 1st. They issued a “buy” rating and a $63.00 price objective on the stock. Finally, Wells Fargo & Company decreased their target price on Sonoco Products from $60.00 to $56.00 and set an “equal weight” rating for the company in a report on Friday, March 20th. Five investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Sonoco Products has a consensus rating of “Hold” and a consensus price target of $60.11.

Sonoco Products Trading Down 1.7%

Shares of SON opened at $49.07 on Thursday. Sonoco Products Company has a 1-year low of $38.65 and a 1-year high of $58.44. 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 firm’s 50-day moving average price is $51.19 and its 200-day moving average price is $49.44. The firm has a market capitalization of $4.85 billion, a price-to-earnings ratio of 4.81, a PEG ratio of 1.05 and a beta of 0.39.

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

Sonoco Products Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Friday, May 8th. This is a boost from Sonoco Products’s previous quarterly dividend of $0.53. Sonoco Products’s dividend payout ratio (DPR) is 21.18%.

Sonoco Products Company Profile

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.