Dimensional Fund Advisors LP Purchases 450,792 Shares of Sonoco Products Company $SON

Key Points

• Dimensional Fund Advisors LP increased its stake in Sonoco Products by 14.4%, acquiring an additional 450,792 shares and holding approximately 3.64% of the company, valued at about $169.6 million.
• Sonoco Products reported earnings of $1.37 per share for the last quarter, falling short of estimates, with revenues reaching $1.91 billion, up 17.7% year-over-year.
• The company declared a quarterly dividend of $0.53 per share, reflecting an annualized dividend of $2.12 and a yield of 4.6%, with a payout ratio of 37.99%.

Dimensional Fund Advisors LP raised its stake in shares of Sonoco Products Company (NYSE:SON - Free Report) by 14.4% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 3,591,263 shares of the industrial products company's stock after purchasing an additional 450,792 shares during the period. Dimensional Fund Advisors LP owned 3.64% of Sonoco Products worth $169,646,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Beverly Hills Private Wealth LLC grew its stake in shares of Sonoco Products by 4.1% during the 1st quarter. Beverly Hills Private Wealth LLC now owns 5,669 shares of the industrial products company's stock valued at $268,000 after acquiring an additional 224 shares during the period. Federated Hermes Inc. lifted its holdings in Sonoco Products by 2.5% during the first quarter. Federated Hermes Inc. now owns 9,304 shares of the industrial products company's stock valued at $440,000 after purchasing an additional 230 shares in the last quarter. IVC Wealth Advisors LLC boosted its position in shares of Sonoco Products by 4.6% in the first quarter. IVC Wealth Advisors LLC now owns 6,542 shares of the industrial products company's stock worth $309,000 after purchasing an additional 288 shares during the period. State of Michigan Retirement System increased its stake in shares of Sonoco Products by 1.3% in the first quarter. State of Michigan Retirement System now owns 23,551 shares of the industrial products company's stock worth $1,113,000 after purchasing an additional 300 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its position in shares of Sonoco Products by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 11,511 shares of the industrial products company's stock valued at $543,000 after purchasing an additional 305 shares during the period. Institutional investors own 77.69% of the company's stock.

Wall Street Analyst Weigh In

SON has been the subject of a number of analyst reports. Wall Street Zen upgraded Sonoco Products from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. Raymond James Financial increased their target price on Sonoco Products from $50.00 to $55.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Truist Financial lifted their target price on Sonoco Products from $53.00 to $58.00 and gave the company a "buy" rating in a research note on Friday, July 25th. UBS Group upped their price target on Sonoco Products from $48.00 to $50.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Finally, Wells Fargo & Company upgraded shares of Sonoco Products from an "underweight" rating to an "overweight" rating and lifted their price objective for the company from $45.00 to $55.00 in a research report on Friday, May 23rd. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $57.63.

Sonoco Products Price Performance

Shares of Sonoco Products stock traded down $0.6350 during trading hours on Monday, reaching $46.9150. The company's stock had a trading volume of 664,887 shares, compared to its average volume of 891,727. The firm has a 50 day moving average price of $45.76 and a 200-day moving average price of $45.69. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.25 and a quick ratio of 0.72. The stock has a market cap of $4.63 billion, a P/E ratio of 8.41, a P/E/G ratio of 0.64 and a beta of 0.69. Sonoco Products Company has a one year low of $39.46 and a one year high of $56.77.

Sonoco Products (NYSE:SON - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $1.37 EPS for the quarter, missing analysts' consensus estimates of $1.44 by ($0.07). Sonoco Products had a net margin of 8.35% and a return on equity of 20.46%. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the previous year, the business posted $1.28 EPS. The firm's revenue was up 17.7% on a year-over-year basis. Sonoco Products has set its FY 2025 guidance at 6.000-6.2 EPS. On average, analysts predict that Sonoco Products Company will post 6.1 EPS for the current year.

Sonoco Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $2.12 annualized dividend and a dividend yield of 4.5%. Sonoco Products's payout ratio is currently 37.99%.

About Sonoco Products

Sonoco Products Company, together with its subsidiaries, designs, develops, manufactures, and sells various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates Consumer Packaging and Industrial Paper Packaging segments. The Consumer Packaging segment offers round and shaped rigid paper, steel, and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays and enclosures; and high-barrier flexible packaging products.