Sonoco Products Company (NYSE:SON) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Sonoco Products Company (NYSE:SON) has received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $57.6250.

Several research firms have commented on SON. 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 report on Thursday, July 24th. Raymond James Financial raised their target price on shares of Sonoco Products from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Tuesday, July 15th. Truist Financial raised their target price on shares of Sonoco Products from $53.00 to $58.00 and gave the company a “buy” rating in a report on Friday, July 25th. Finally, Citigroup decreased their price target on shares of Sonoco Products from $56.00 to $55.00 and set a “buy” rating on the stock in a report on Monday.

Institutional Investors Weigh In On Sonoco Products

Hedge funds and other institutional investors have recently made changes to their positions in the stock. ST Germain D J Co. Inc. bought a new stake in shares of Sonoco Products during the 2nd quarter valued at approximately $26,000. TD Waterhouse Canada Inc. bought a new stake in shares of Sonoco Products during the 2nd quarter valued at approximately $30,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Sonoco Products by 508.1% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 900 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 752 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of Sonoco Products by 152.7% during the 1st quarter. UMB Bank n.a. now owns 950 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 574 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in Sonoco Products by 152.0% during the 1st quarter. Allworth Financial LP now owns 1,071 shares of the industrial products company’s stock worth $50,000 after acquiring an additional 646 shares during the last quarter. 77.69% of the stock is owned by institutional investors.

Sonoco Products Price Performance

NYSE:SON opened at $43.03 on Thursday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.72 and a current ratio of 1.25. Sonoco Products has a 52 week low of $39.46 and a 52 week high of $55.33. The firm has a market cap of $4.24 billion, a price-to-earnings ratio of 7.71, a P/E/G ratio of 0.58 and a beta of 0.68. The firm’s 50-day simple moving average is $46.05 and its 200 day simple moving average is $45.53.

Sonoco Products (NYSE:SON) last released its earnings results on Wednesday, July 23rd. The industrial products company reported $1.37 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.07). Sonoco Products had a net margin of 8.35% and a return on equity of 20.46%. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the prior year, the business earned $1.28 earnings per share. Sonoco Products’s quarterly revenue was up 17.7% compared to the same quarter last year. Sonoco Products has set its FY 2025 guidance at 6.000-6.2 EPS. As a group, sell-side analysts predict that Sonoco Products will post 6.1 earnings per share for the current year.

Sonoco Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $2.12 annualized dividend and a dividend yield of 4.9%. Sonoco Products’s payout ratio is 37.99%.

Sonoco Products Company 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.