Louisiana State Employees Retirement System Invests $1.55 Million in Sonoco Products Company $SON

Louisiana State Employees Retirement System acquired a new position in Sonoco Products Company (NYSE:SON) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 28,600 shares of the industrial products company’s stock, valued at approximately $1,547,000.

Several other large investors have also recently added to or reduced their stakes in SON. SBI Securities Co. Ltd. raised its stake 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 valued at $26,000 after acquiring an additional 258 shares in the last quarter. LRI Investments LLC bought a new position in shares of Sonoco Products in the fourth quarter worth $29,000. Ameriflex Group Inc. increased its holdings in shares of Sonoco Products by 1,263.6% during the third quarter. Ameriflex Group Inc. now owns 900 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 834 shares during the period. Larson Financial Group LLC increased its holdings in shares of Sonoco Products by 1,826.9% during the third quarter. Larson Financial Group LLC now owns 1,002 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 950 shares during the period. Finally, Cullen Frost Bankers Inc. bought a new stake in shares of Sonoco Products during the fourth quarter valued at about $47,000. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Paul Joachimczyk bought 8,058 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The shares were acquired at an average cost of $49.64 per share, for a total transaction of $399,999.12. Following the acquisition, the chief financial officer directly owned 28,558 shares of the company’s stock, valued at $1,417,619.12. The trade was a 39.31% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider James A. Harrell III purchased 6,753 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The stock was bought at an average cost of $50.37 per share, for a total transaction of $340,148.61. Following the purchase, the insider directly owned 10,070 shares in the company, valued at $507,225.90. This represents a 203.59% increase in their position. 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 analysts have commented on the stock. Truist Financial restated a “buy” rating and set a $65.00 price target (down from $68.00) on shares of Sonoco Products in a research report on Tuesday, April 28th. Robert W. Baird decreased their price objective on shares of Sonoco Products from $60.00 to $55.00 and set a “neutral” rating for the company in a report on Thursday, April 23rd. Weiss Ratings upgraded shares of Sonoco Products from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday. Bank of America reissued a “buy” rating on shares of Sonoco Products in a report on Wednesday, April 22nd. Finally, Wall Street Zen downgraded Sonoco Products from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Five analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $60.11.

Sonoco Products Price Performance

Shares of Sonoco Products stock opened at $56.13 on Thursday. Sonoco Products Company has a 52 week low of $38.65 and a 52 week 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 stock has a market cap of $5.55 billion, a PE ratio of 5.50, a price-to-earnings-growth ratio of 1.18 and a beta of 0.36. The company’s 50-day moving average price is $50.33 and its two-hundred day moving average price is $50.60.

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

Sonoco Products Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th were issued a $0.54 dividend. This is an increase from Sonoco Products’s previous quarterly dividend of $0.53. This represents a $2.16 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Friday, May 8th. Sonoco Products’s dividend payout ratio is currently 21.18%.

Sonoco Products 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.