Sonoco Products (NYSE:SON) Stock Price Target Cut by Wells Fargo & Company

Sonoco Products (NYSE:SON) had its price objective cut by analysts at Wells Fargo & Company from $56.00 to $53.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 6.58% from the stock’s current price.

Several other equities analysts have also recently commented on SON. Weiss Ratings cut Sonoco Products from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, September 11th. Bank of America lowered Sonoco Products from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $69.00 to $60.00 in a research note on Thursday, September 3rd. Citigroup raised their price target on Sonoco Products from $63.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, July 9th. UBS Group dropped their price target on Sonoco Products from $61.00 to $51.00 and set a “neutral” rating for the company in a research report on Monday, October 5th. Finally, Truist Financial cut their price objective on Sonoco Products from $68.00 to $62.00 and set a “buy” rating for the company in a report on Monday, October 12th. Four investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $58.89.

Sonoco Products Price Performance

NYSE:SON traded down $0.06 during trading hours on Monday, hitting $49.73. The stock had a trading volume of 425,065 shares, compared to its average volume of 1,145,835. The company has a 50 day simple moving average of $52.12 and a two-hundred day simple moving average of $52.67. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.99 and a quick ratio of 0.55. Sonoco Products has a one year low of $38.65 and a one year high of $60.67. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 7.91, a P/E/G ratio of 1.28 and a beta of 0.35.

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, topping 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 net margin of 8.41% and a return on equity of 16.50%. The business’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.37 earnings per share. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. Research analysts forecast that Sonoco Products will post 5.68 earnings per share for the current fiscal year.

Institutional Trading of Sonoco Products

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Sonoco Products during the 2nd quarter worth $657,016,000. Dimensional Fund Advisors LP increased its stake in Sonoco Products by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,931,180 shares of the industrial products company’s stock valued at $212,632,000 after acquiring an additional 32,810 shares during the last quarter. Bank of America Corp DE bought a new position in Sonoco Products in the second quarter valued at $204,968,000. Sei Investments Co. raised its position in Sonoco Products by 4.6% during the first quarter. Sei Investments Co. now owns 1,497,108 shares of the industrial products company’s stock valued at $80,979,000 after purchasing an additional 66,483 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Sonoco Products during the second quarter valued at about $60,793,000. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Sonoco Products Company Profile

Sonoco Products Company (NYSE:SON) is a global packaging company headquartered in Hartsville, South Carolina. Founded in 1899 as the Southern Novelty Company, Sonoco has developed into a diversified provider of packaging products and services for consumer and industrial markets.

The company produces consumer packaging such as rigid paper and plastic containers, metal cans, flexible packaging, thermoformed packaging, closures, and packaging displays. Its industrial packaging activities include paper tubes and cores, protective packaging, molded foam products, pallets, and other materials used to protect, store, and transport goods.