Have you taken the rifle completely apart and checked the follower and follower spring?
Thanks for the response, I failed to post the found issue.
These are a couple responses I got on SakoCollectors forum,
“I would try a new magazine spring.
One thing to check is the magazine box and the bottom metal are assembled together properly. I believe the correct way is described in detail in some discussions over here, but I couldn't find it on a quick search, but maybe you can. In short, the box has tabs that should go in recesses in the receiver. failure to assemble it correctly will bend the bottom metal out of shape and rob the magazine of couple of mm of spring pressure plus have it in slightly wrong orientation, which possibly could result in feeding issues.”
And
“P04 probably has it. There is a chronic issue with these Sakos getting the magazine box installed properly. What happens is that the magazine box doesn't stay in place, with the tabs in position, as the bottom metal is inserted. The magazine box pops out, blocking the bottom metal from going in all the way. If the person assembling the rifle then cranks down hard on the front screw, the bottom metal will bend. Let's see a photo of the bottom of the action.”
And my reply, “I took it apart tonight, reassembled and it cycles all five out of the magazine. He bought it 16 years ago when he was 14. He’s thrilled!”