Fuller & Thaler Asset Management Inc. Has $109.07 Million Holdings in 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. boosted its stake in shares of Sonoco Products Company (NYSE:SON - Free Report) by 9.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,308,939 shares of the industrial products company's stock after purchasing 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 reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Invenomic Capital Management LP grew its position in Sonoco Products by 368.6% in the fourth quarter. Invenomic Capital Management LP now owns 666,430 shares of the industrial products company's stock worth $32,555,000 after acquiring an additional 524,198 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Sonoco Products by 14.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,591,263 shares of the industrial products company's stock valued at $169,646,000 after purchasing an additional 450,792 shares during the last quarter. Deprince Race & Zollo Inc. raised its stake in shares of Sonoco Products by 53.4% in the 4th quarter. Deprince Race & Zollo Inc. now owns 1,272,121 shares of the industrial products company's stock valued at $62,143,000 after buying an additional 442,892 shares in the last quarter. Valley Wealth Managers Inc. raised its stake in shares of Sonoco Products by 699.3% in the 1st quarter. Valley Wealth Managers Inc. now owns 497,814 shares of the industrial products company's stock valued at $23,517,000 after buying an additional 435,529 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new position in shares of Sonoco Products in the 4th quarter valued at $15,533,000. 77.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Sonoco Products Stock Performance

SON stock traded up $0.87 during midday trading on Friday, reaching $47.45. 773,738 shares of the company were exchanged, compared to its average volume of 912,537. The business has a 50-day moving average price of $45.71 and a two-hundred day moving average price of $45.72. Sonoco Products Company has a one year low of $39.46 and a one year high of $56.77. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of 8.50, a price-to-earnings-growth ratio of 0.63 and a beta of 0.69. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.25 and a quick ratio of 0.72.

Sonoco Products (NYSE:SON - Get Free Report) last issued 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). The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.92 billion. Sonoco Products had a return on equity of 20.46% and a net margin of 8.35%.The firm's revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.28 EPS. Sonoco Products has set its FY 2025 guidance at 6.000-6.2 EPS. Equities research analysts forecast that Sonoco Products Company will post 6.1 EPS for the current year.

Sonoco Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th will be paid 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 yield of 4.5%. Sonoco Products's payout ratio is presently 37.99%.

Sonoco Products Profile

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.