Sonoco Products (NYSE:SON) Receives $59.00 Consensus PT from Analysts

Sonoco Products (NYSE:SON) has received an average rating of “Hold” from the five analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $59.00.

Several equities research analysts recently commented on SON shares. Citigroup lifted their price target on shares of Sonoco Products from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Robert W. Baird decreased their target price on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Finally, Truist Financial started coverage on Sonoco Products in a research report on Tuesday, November 26th. They set a “buy” rating and a $63.00 price target on the stock.

Sonoco Products Price Performance

Sonoco Products stock opened at $48.60 on Tuesday. The stock has a market cap of $4.78 billion, a P/E ratio of 16.70, a price-to-earnings-growth ratio of 2.14 and a beta of 0.67. The company has a fifty day simple moving average of $51.11 and a 200-day simple moving average of $52.26. The company has a current ratio of 2.36, a quick ratio of 1.91 and a debt-to-equity ratio of 1.74. Sonoco Products has a 12-month low of $48.22 and a 12-month high of $61.73.

Sonoco Products (NYSE:SON) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.04. The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.46 EPS. Equities analysts expect that Sonoco Products will post 5.09 EPS for the current fiscal year.

Sonoco Products Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 8th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend was Friday, November 8th. Sonoco Products’s dividend payout ratio (DPR) is presently 71.48%.

Institutional Trading of Sonoco Products

A number of hedge funds have recently added to or reduced their stakes in SON. Kennebec Savings Bank purchased a new position in Sonoco Products during the 3rd quarter worth $27,000. Capital Performance Advisors LLP purchased a new position in Sonoco Products during the third quarter worth about $33,000. Abich Financial Wealth Management LLC acquired a new stake in Sonoco Products in the second quarter valued at about $50,000. Wilmington Savings Fund Society FSB purchased a new stake in Sonoco Products in the 3rd quarter valued at approximately $71,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in Sonoco Products by 821.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,879 shares of the industrial products company’s stock worth $95,000 after purchasing an additional 1,675 shares during the period. 77.69% of the stock is owned by institutional investors and hedge funds.

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.