Vertical Research upgraded shares of Sonoco Products (NYSE:SON) from a sell rating to a hold rating in a research note published on Friday morning, Briefing.com Automated Import reports.
A number of other brokerages have also recently issued reports on SON. Goldman Sachs Group cut shares of Sonoco Products from a neutral rating to a sell rating and set a $59.00 price objective for the company. in a research note on Monday, June 24th. Robert W. Baird set a $70.00 price objective on shares of Sonoco Products and gave the company a buy rating in a research note on Friday, July 19th. BMO Capital Markets lowered shares of 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, July 15th. Bank of America lowered shares of Sonoco Products from a neutral rating to an underperform rating in a report on Friday, July 12th. Finally, ValuEngine lowered shares of Sonoco Products from a hold rating to a sell rating in a report on Friday, October 4th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. Sonoco Products currently has an average rating of Hold and a consensus target price of $60.33.
Shares of SON stock opened at $58.01 on Friday. Sonoco Products has a 52-week low of $50.30 and a 52-week high of $66.57. The stock has a market cap of $5.73 billion, a price-to-earnings ratio of 17.21, a P/E/G ratio of 3.49 and a beta of 0.89. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.84 and a current ratio of 1.20. The firm has a fifty day moving average of $57.69 and a 200-day moving average of $61.04.
Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Thursday, October 17th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.06. Sonoco Products had a net margin of 5.99% and a return on equity of 20.08%. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the prior year, the company posted $0.86 EPS. The business’s revenue was down .8% on a year-over-year basis. On average, sell-side analysts predict that Sonoco Products will post 3.54 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend is Thursday, November 7th. Sonoco Products’s dividend payout ratio is currently 51.04%.
In other Sonoco Products news, VP Marcy J. Thompson sold 1,182 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $61.37, for a total transaction of $72,539.34. Following the sale, the vice president now owns 18,938 shares of the company’s stock, valued at approximately $1,162,225.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the business. Krane Funds Advisors LLC bought a new stake in Sonoco Products during the 2nd quarter worth about $25,000. Captrust Financial Advisors boosted its stake in shares of Sonoco Products by 84.4% in the 2nd quarter. Captrust Financial Advisors now owns 651 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 298 shares during the last quarter. FinTrust Capital Advisors LLC boosted its stake in shares of Sonoco Products by 311.5% in the 2nd quarter. FinTrust Capital Advisors LLC now owns 679 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 514 shares during the last quarter. Kavar Capital Partners LLC bought a new position in shares of Sonoco Products in the 2nd quarter valued at about $46,000. Finally, Machina Capital S.A.S. bought a new position in shares of Sonoco Products in the 2nd quarter valued at about $56,000. 73.60% of the stock is currently owned by hedge funds and other institutional investors.
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.
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