California State Teachers Retirement System Raises Holdings in Sonoco Products Company $SON

Key Points

• California State Teachers Retirement System increased its Sonoco Products stake by 25.2% in the first quarter, holding 113,753 shares valued at approximately $6.15 million. Institutional investors collectively own 77.69% of the company.
• Analyst sentiment remains mixed, with five Buy ratings and seven Hold ratings, resulting in a consensus Hold rating and an average price target of $61.78.
• Sonoco exceeded quarterly earnings expectations, reporting $1.51 in EPS versus $1.47 forecast, while revenue reached $1.89 billion. The company also declared a $0.54 quarterly dividend, representing a 3.7% annualized yield.

California State Teachers Retirement System boosted its stake in shares of Sonoco Products Company (NYSE:SON - Free Report) by 25.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 113,753 shares of the industrial products company's stock after buying an additional 22,919 shares during the period. California State Teachers Retirement System owned 0.12% of Sonoco Products worth $6,153,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in SON. Fuller & Thaler Asset Management Inc. grew its position in shares of Sonoco Products by 477.8% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,901,950 shares of the industrial products company's stock worth $257,561,000 after buying an additional 4,880,438 shares during the last quarter. State Street Corp boosted its stake in Sonoco Products by 0.3% in the second quarter. State Street Corp now owns 4,470,449 shares of the industrial products company's stock valued at $194,733,000 after acquiring an additional 13,161 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Sonoco Products by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,931,180 shares of the industrial products company's stock worth $212,632,000 after purchasing an additional 32,810 shares during the last quarter. Bank of America Corp DE grew its holdings in Sonoco Products by 6.1% in the second quarter. Bank of America Corp DE now owns 2,804,621 shares of the industrial products company's stock worth $122,169,000 after purchasing an additional 162,262 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Sonoco Products by 357.8% during the third quarter. AQR Capital Management LLC now owns 2,117,022 shares of the industrial products company's stock worth $90,693,000 after purchasing an additional 1,654,576 shares in the last quarter. 77.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SON. Argus raised Sonoco Products to a "hold" rating in a research report on Monday, April 20th. Bank of America increased their price target on Sonoco Products from $65.00 to $69.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. UBS Group dropped their price target on Sonoco Products from $62.00 to $59.00 and set a "neutral" rating on the stock in a research note on Friday, April 10th. Truist Financial upped their price objective on shares of Sonoco Products from $64.00 to $68.00 and gave the company a "buy" rating in a report on Friday, July 24th. Finally, 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 research report on Thursday, April 23rd. Five analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, Sonoco Products currently has an average rating of "Hold" and a consensus price target of $61.78.

Sonoco Products Price Performance

Shares of NYSE:SON opened at $58.48 on Thursday. Sonoco Products Company has a twelve month low of $38.65 and a twelve month high of $60.67. The company's 50 day moving average is $53.68 and its 200 day moving average is $52.65. The company has a current ratio of 0.99, a quick ratio of 0.55 and a debt-to-equity ratio of 0.97. The company has a market cap of $5.78 billion, a PE ratio of 9.30, a price-to-earnings-growth ratio of 1.24 and a beta of 0.37.

Sonoco Products (NYSE:SON - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.47 by $0.04. The business had revenue of $1.89 billion during the quarter, compared to analysts' expectations of $1.88 billion. Sonoco Products had a net margin of 8.41% and a return on equity of 16.50%. The business's quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.37 EPS. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. On average, sell-side analysts forecast that Sonoco Products Company will post 5.8 EPS for the current year.

Sonoco Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be given a dividend of $0.54 per share. The ex-dividend date is Monday, August 10th. This represents a $2.16 dividend on an annualized basis and a yield of 3.7%. Sonoco Products's payout ratio is currently 34.34%.

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.

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