Foster & Motley Inc. Makes New Investment in Sonoco Products Company $SON

Foster & Motley Inc. bought a new stake in shares of Sonoco Products Company (NYSE:SON) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 8,931 shares of the industrial products company’s stock, valued at approximately $503,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Sonoco Products in the 2nd quarter valued at approximately $657,016,000. Fuller & Thaler Asset Management Inc. boosted its position in Sonoco Products by 477.8% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,901,950 shares of the industrial products company’s stock worth $257,561,000 after purchasing an additional 4,880,438 shares during the period. State Street Corp grew its holdings in Sonoco Products by 0.3% during 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 purchasing an additional 13,161 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Sonoco Products by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 3,931,180 shares of the industrial products company’s stock valued at $212,632,000 after purchasing an additional 32,810 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of Sonoco Products by 19.0% in the first quarter. Bank of America Corp DE now owns 3,312,638 shares of the industrial products company’s stock valued at $179,181,000 after purchasing an additional 528,292 shares during the period. Institutional investors and hedge funds own 77.69% of the company’s stock.

Sonoco Products Trading Up 0.8%

Shares of SON stock opened at $58.39 on Friday. The firm has a market capitalization of $5.77 billion, a P/E ratio of 9.28, a price-to-earnings-growth ratio of 1.22 and a beta of 0.37. Sonoco Products Company has a 1 year low of $38.65 and a 1 year high of $60.67. The firm’s fifty day simple moving average is $55.65 and its 200 day simple moving average is $53.39. The company has a current ratio of 0.99, a quick ratio of 0.55 and a debt-to-equity ratio of 0.97.

Sonoco Products (NYSE:SON) last issued its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.04. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. Sonoco Products had a net margin of 8.41% and a return on equity of 16.50%. The business’s revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.37 EPS. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. As a group, sell-side analysts predict that Sonoco Products Company will post 5.8 EPS for the current year.

Sonoco Products Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. 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 report on Thursday, April 23rd. Truist Financial lifted their target price on shares of Sonoco Products from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Weiss Ratings raised shares of Sonoco Products from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, August 3rd. Citigroup upped their price target on shares of Sonoco Products from $63.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Finally, Wall Street Zen downgraded Sonoco Products from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Five equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $61.78.

About Sonoco Products

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.