Sonoco Products Co (NYSE:SON) declared a quarterly dividend on Monday, July 15th, RTT News reports. Shareholders of record on Friday, August 9th will be paid a dividend of 0.43 per share by the industrial products company on Tuesday, September 10th. This represents a $1.72 annualized dividend and a yield of 2.69%.
Sonoco Products has increased its dividend by an average of 5.7% annually over the last three years and has raised its dividend every year for the last 38 years. Sonoco Products has a dividend payout ratio of 51.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Sonoco Products to earn $3.70 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 46.5%.
Sonoco Products stock traded down $0.27 during mid-day trading on Wednesday, hitting $63.89. The company’s stock had a trading volume of 212,845 shares, compared to its average volume of 360,912. The company has a 50 day simple moving average of $64.80. The company has a market capitalization of $6.45 billion, a PE ratio of 18.96, a PEG ratio of 3.85 and a beta of 0.94. The company has a current ratio of 1.36, a quick ratio of 0.91 and a debt-to-equity ratio of 0.66. Sonoco Products has a one year low of $50.30 and a one year high of $66.57.
Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Thursday, April 18th. The industrial products company reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.05. Sonoco Products had a return on equity of 19.57% and a net margin of 5.76%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the prior year, the company posted $0.74 EPS. Sonoco Products’s quarterly revenue was up 3.6% on a year-over-year basis. Analysts expect that Sonoco Products will post 3.58 earnings per share for the current fiscal year.
Several equities research analysts have weighed in on the company. KeyCorp reiterated a “hold” rating on shares of Sonoco Products in a report on Sunday, April 21st. Argus upgraded Sonoco Products from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a report on Wednesday, April 24th. BMO Capital Markets cut Sonoco Products from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $60.00 to $56.00 in a report on Monday. Bank of America set a $80.00 target price on Colgate-Palmolive and gave the stock a “buy” rating in a report on Friday, July 12th. Finally, ValuEngine upgraded YY from a “sell” rating to a “hold” rating in a report on Friday, June 7th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Sonoco Products has an average rating of “Hold” and an average target price of $58.86.
In related news, VP Roger P. Schrum sold 812 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $62.25, for a total transaction of $50,547.00. Following the completion of the sale, the vice president now directly owns 7,938 shares in the company, valued at approximately $494,140.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP R. Howard Coker sold 6,484 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $61.94, for a total value of $401,618.96. Following the sale, the senior vice president now owns 215,108 shares of the company’s stock, valued at $13,323,789.52. The disclosure for this sale can be found here. Insiders have sold a total of 12,381 shares of company stock valued at $758,537 over the last 90 days. 1.30% of the stock is currently owned by company insiders.
Sonoco Products Company Profile
Sonoco Products Company manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through four segments: Consumer Packaging, Display and Packaging, Paper and Industrial Converted Products, and Protective Solutions. The Consumer Packaging segment offers composite and thermoformed plastic round and shaped rigid containers and trays; extruded and injection-molded plastic products; printed flexible packaging products; brand artwork management; and metal and peelable membrane ends and closures.
See Also: Stock Portfolio Tracker
Receive News & Ratings for Sonoco Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sonoco Products and related companies with MarketBeat.com's FREE daily email newsletter.