Sonoco Products Company (NYSE:SON) Receives $60.11 Consensus Price Target from Analysts

Sonoco Products Company (NYSE:SON) has been assigned a consensus recommendation of “Hold” from the twelve ratings firms that are covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $60.1111.

A number of brokerages recently commented on SON. Robert W. Baird lowered their price objective on Sonoco Products from $60.00 to $55.00 and set a “neutral” rating for the company in a research report on Thursday, April 23rd. UBS Group dropped their price objective on Sonoco Products from $62.00 to $59.00 and set a “neutral” rating on the stock in a research note on Friday, April 10th. Bank of America reaffirmed a “buy” rating on shares of Sonoco Products in a research note on Wednesday, April 22nd. Citigroup reduced their price objective on Sonoco Products from $70.00 to $63.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. Finally, Wall Street Zen cut shares of Sonoco Products from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd.

Insider Activity

In other news, CFO Paul Joachimczyk acquired 8,058 shares of the stock in a transaction dated Friday, April 24th. The shares were bought at an average cost of $49.64 per share, for a total transaction of $399,999.12. Following the purchase, the chief financial officer directly owned 28,558 shares of the company’s stock, valued at approximately $1,417,619.12. This trade represents a 39.31% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James A. Harrell III acquired 6,753 shares of the company’s stock in a transaction on Monday, April 27th. The stock was acquired at an average price of $50.37 per share, for a total transaction of $340,148.61. Following the purchase, the insider directly owned 10,070 shares of the company’s stock, valued at approximately $507,225.90. This trade represents a 203.59% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.98% of the stock is owned by insiders.

Hedge Funds Weigh In On Sonoco Products

A number of large investors have recently made changes to their positions in SON. SBI Securities Co. Ltd. raised its stake in Sonoco Products by 77.7% in the 4th quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 258 shares in the last quarter. WPG Advisers LLC lifted its position in shares of Sonoco Products by 93.1% during the 1st quarter. WPG Advisers LLC now owns 612 shares of the industrial products company’s stock worth $33,000 after buying an additional 295 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of Sonoco Products in the 4th quarter valued at approximately $29,000. Ameriflex Group Inc. boosted its position in Sonoco Products by 1,263.6% in the third quarter. Ameriflex Group Inc. now owns 900 shares of the industrial products company’s stock valued at $39,000 after buying an additional 834 shares in the last quarter. Finally, Larson Financial Group LLC boosted its holdings in shares of Sonoco Products by 1,826.9% during the 3rd quarter. Larson Financial Group LLC now owns 1,002 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 950 shares in the last quarter. Institutional investors own 77.69% of the company’s stock.

Sonoco Products Stock Down 0.4%

Shares of NYSE:SON opened at $56.13 on Friday. Sonoco Products has a 12 month low of $38.65 and a 12 month high of $58.44. The company has a quick ratio of 0.54, a current ratio of 0.96 and a debt-to-equity ratio of 0.97. The company’s 50-day moving average price is $50.33 and its two-hundred day moving average price is $50.60. The firm has a market cap of $5.55 billion, a P/E ratio of 5.50, a P/E/G ratio of 1.18 and a beta of 0.36.

Sonoco Products (NYSE:SON) last issued its quarterly earnings results on Tuesday, April 21st. The industrial products company reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.37). Sonoco Products had a net margin of 13.57% and a return on equity of 16.50%. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the business earned $1.38 EPS. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. As a group, research analysts forecast that Sonoco Products will post 5.81 EPS for the current fiscal year.

Sonoco Products Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 8th were paid a $0.54 dividend. This is a boost from Sonoco Products’s previous quarterly dividend of $0.53. This represents a $2.16 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Friday, May 8th. Sonoco Products’s dividend payout ratio (DPR) is 21.18%.

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.