Analysts Set Sonoco Products Company (NYSE:SON) Price Target at $61.78

Sonoco Products Company (NYSE:SON) has received a consensus recommendation of “Hold” from the twelve ratings firms that are currently covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $61.7778.

A number of brokerages recently weighed in on SON. Wall Street Zen downgraded shares of Sonoco Products from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Truist Financial boosted their price target on shares of Sonoco Products from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Weiss Ratings raised shares of Sonoco Products from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 3rd. Robert W. Baird lowered their price objective on shares of Sonoco Products from $60.00 to $55.00 and set a “neutral” rating on the stock in a research report on Thursday, April 23rd. Finally, Citigroup raised their price objective on shares of Sonoco Products from $63.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, July 9th.

Sonoco Products Trading Up 0.7%

Shares of SON stock opened at $57.16 on Friday. The company has a 50 day moving average of $55.32 and a 200-day moving average of $53.24. The company has a quick ratio of 0.55, a current ratio of 0.99 and a debt-to-equity ratio of 0.97. Sonoco Products has a 12-month low of $38.65 and a 12-month high of $60.67. The firm has a market cap of $5.65 billion, a P/E ratio of 9.09, a PEG ratio of 1.23 and a beta of 0.37.

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

Sonoco Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 10th will be paid 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 3.8%. Sonoco Products’s payout ratio is presently 34.34%.

Hedge Funds Weigh In On Sonoco Products

A number of institutional investors have recently bought and sold shares of SON. BlackRock Inc. bought a new position in shares of Sonoco Products in the 2nd quarter worth approximately $657,016,000. Fuller & Thaler Asset Management Inc. lifted its stake in shares of Sonoco Products by 477.8% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,901,950 shares of the industrial products company’s stock valued at $257,561,000 after purchasing an additional 4,880,438 shares during the period. Bank of America Corp DE bought a new stake in shares of Sonoco Products during the second quarter valued at approximately $204,968,000. AQR Capital Management LLC boosted its position in shares of Sonoco Products by 357.8% during the third quarter. AQR Capital Management LLC now owns 2,117,022 shares of the industrial products company’s stock valued at $90,693,000 after purchasing an additional 1,654,576 shares in the last quarter. Finally, Norges Bank purchased a new stake in Sonoco Products in the fourth quarter worth $54,611,000. 77.69% of the stock is owned by institutional investors.

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.