Dimensional Fund Advisors LP Increases Stock Holdings in Sonoco Products Company $SON

Key Points

• Dimensional Fund Advisors increased its stake in Sonoco Products (NYSE:SON) by 2.9% in Q3 to 3,721,421 shares, representing about 3.77% of the company and valued at roughly $160.35 million.
• Insider Ernest D. Haynes III sold 1,581 shares at an average price of $56.39 on Feb. 27, a 14.43% reduction in his position; insiders now own about 0.74% of the stock.
• Sonoco reported EPS of $1.05 (beating estimates) and revenue of $1.77B (up 29.7% YoY) and declared a quarterly dividend of $0.53 (annualized $2.12, ~4.0% yield).

Dimensional Fund Advisors LP boosted its stake in Sonoco Products Company (NYSE:SON - Free Report) by 2.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 3,721,421 shares of the industrial products company's stock after acquiring an additional 105,798 shares during the quarter. Dimensional Fund Advisors LP owned 3.77% of Sonoco Products worth $160,353,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC acquired a new stake in shares of Sonoco Products in the third quarter valued at about $29,000. TD Waterhouse Canada Inc. purchased a new stake in shares of Sonoco Products during the second quarter worth about $30,000. True Wealth Design LLC raised its position in shares of Sonoco Products by 172.5% during the 3rd quarter. True Wealth Design LLC now owns 744 shares of the industrial products company's stock worth $32,000 after purchasing an additional 471 shares during the last quarter. Clearstead Advisors LLC lifted its stake in Sonoco Products by 258.7% in the 3rd quarter. Clearstead Advisors LLC now owns 1,338 shares of the industrial products company's stock valued at $58,000 after buying an additional 965 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Sonoco Products by 315.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,587 shares of the industrial products company's stock worth $69,000 after buying an additional 1,205 shares during the last quarter. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Sonoco Products

In other news, insider Ernest D. Haynes III sold 1,581 shares of Sonoco Products stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $56.39, for a total transaction of $89,152.59. Following the sale, the insider owned 9,377 shares of the company's stock, valued at approximately $528,769.03. The trade was a 14.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.74% of the company's stock.

Sonoco Products Stock Up 0.1%

NYSE SON opened at $53.41 on Tuesday. The business's fifty day simple moving average is $50.55 and its 200-day simple moving average is $45.54. The company has a quick ratio of 0.60, a current ratio of 1.05 and a debt-to-equity ratio of 1.04. The firm has a market cap of $5.27 billion, a PE ratio of 5.30, a P/E/G ratio of 1.07 and a beta of 0.50. Sonoco Products Company has a 52 week low of $38.65 and a 52 week high of $58.44.

Sonoco Products (NYSE:SON - Get Free Report) last announced its quarterly earnings data on Tuesday, February 17th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.04. Sonoco Products had a net margin of 13.34% and a return on equity of 18.52%. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the prior year, the firm posted $1.17 earnings per share. Sonoco Products's quarterly revenue was up 29.7% on a year-over-year basis. As a group, equities analysts anticipate that Sonoco Products Company will post 6.1 earnings per share for the current year.

Sonoco Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 25th will be issued a dividend of $0.53 per share. The ex-dividend date is Wednesday, February 25th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.0%. Sonoco Products's dividend payout ratio (DPR) is currently 21.05%.

Wall Street Analyst Weigh In

A number of brokerages have commented on SON. Truist Financial reissued a "buy" rating and set a $69.00 target price (up from $54.00) on shares of Sonoco Products in a report on Friday, February 20th. Citigroup increased their price objective on Sonoco Products from $52.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday, February 19th. Robert W. Baird lifted their target price on shares of Sonoco Products from $48.00 to $60.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 18th. Wells Fargo & Company upped their target price on shares of Sonoco Products from $47.00 to $60.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 18th. Finally, UBS Group raised their target price on shares of Sonoco Products from $48.00 to $62.00 and gave the stock a "neutral" rating in a research note on Thursday, February 19th. Four investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, Sonoco Products presently has a consensus rating of "Hold" and a consensus target price of $62.63.

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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