Fuller & Thaler Asset Management Inc. Acquires 206,749 Shares of Sonoco Products Company $SON

Key Points

• Fuller & Thaler Asset Management increased its stake in Sonoco Products by 9.8%, now owning approximately 2.34% of the company, valued at $109 million.
• Recent analyst reports have been positive, with Wells Fargo upgrading Sonoco from "underweight" to "overweight," increasing the price target from $45 to $55.
• Sonoco is set to pay a quarterly dividend of $0.53 per share on September 10th, reflecting an annualized yield of 4.6% with a payout ratio of 37.99%.

Fuller & Thaler Asset Management Inc. grew its position in Sonoco Products Company (NYSE:SON - Free Report) by 9.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,308,939 shares of the industrial products company's stock after acquiring an additional 206,749 shares during the period. Fuller & Thaler Asset Management Inc. owned about 2.34% of Sonoco Products worth $109,074,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of SON. Bank of Montreal Can boosted its holdings in shares of Sonoco Products by 11.8% during the 4th quarter. Bank of Montreal Can now owns 17,119 shares of the industrial products company's stock worth $836,000 after buying an additional 1,812 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Sonoco Products during the 4th quarter worth about $6,012,000. Barclays PLC boosted its holdings in shares of Sonoco Products by 7.2% during the 4th quarter. Barclays PLC now owns 101,684 shares of the industrial products company's stock worth $4,967,000 after buying an additional 6,799 shares during the period. Mariner LLC boosted its holdings in shares of Sonoco Products by 17.6% during the 4th quarter. Mariner LLC now owns 20,426 shares of the industrial products company's stock worth $998,000 after buying an additional 3,059 shares during the period. Finally, Jump Financial LLC bought a new stake in shares of Sonoco Products during the 4th quarter worth about $451,000. Institutional investors own 77.69% of the company's stock.

Wall Street Analysts Forecast Growth

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

Sonoco Products Price Performance

Shares of Sonoco Products stock traded up $0.87 during midday trading on Friday, hitting $47.45. 773,738 shares of the company traded hands, compared to its average volume of 856,207. The stock has a market cap of $4.68 billion, a price-to-earnings ratio of 8.50, a PEG ratio of 0.62 and a beta of 0.69. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.72 and a current ratio of 1.25. The firm's fifty day moving average price is $45.65 and its 200-day moving average price is $45.72. Sonoco Products Company has a 12 month low of $39.46 and a 12 month 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.07). The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.92 billion. Sonoco Products had a net margin of 8.35% and a return on equity of 20.46%. The company's revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period last year, the firm posted $1.28 earnings per share. Sonoco Products has set its FY 2025 guidance at 6.000-6.2 EPS. As a group, sell-side analysts forecast that Sonoco Products Company will post 6.1 earnings per share for the current year.

Sonoco Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 8th will be issued 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 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.