Sonoco Products Company (NYSE:SON) has been given an average recommendation of “Hold” by the ten ratings firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $52.00.

SON has been the subject of a number of research reports. KeyCorp reissued a “hold” rating on shares of Sonoco Products in a research note on Thursday. Barclays PLC boosted their price target on shares of Sonoco Products from $48.00 to $49.00 and gave the stock an “underweight” rating in a research note on Friday. Zacks Investment Research raised shares of Sonoco Products from a “sell” rating to a “hold” rating in a research note on Wednesday. BidaskClub cut shares of Sonoco Products from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $48.00 price target on shares of Sonoco Products in a research note on Thursday, August 3rd.

Sonoco Products (NYSE:SON) traded up 2.08% during mid-day trading on Friday, hitting $53.11. 818,328 shares of the company traded hands. The firm has a market capitalization of $5.28 billion, a P/E ratio of 20.16 and a beta of 1.13. The firm has a 50 day moving average of $50.01 and a 200 day moving average of $50.48. Sonoco Products has a one year low of $47.10 and a one year high of $55.58.

Sonoco Products (NYSE:SON) last issued its quarterly earnings data on Thursday, October 19th. The industrial products company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.74 by $0.02. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Sonoco Products had a net margin of 5.63% and a return on equity of 16.40%. Sonoco Products’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.72 earnings per share. Equities research analysts expect that Sonoco Products will post $2.76 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 10th will be paid a $0.39 dividend. The ex-dividend date is Thursday, November 9th. This represents a $1.56 dividend on an annualized basis and a yield of 2.94%. Sonoco Products’s dividend payout ratio is presently 57.35%.

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In other Sonoco Products news, VP Marcy J. Thompson sold 565 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $51.00, for a total value of $28,815.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.90% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the company. Harfst & Associates Inc. purchased a new stake in shares of Sonoco Products in the 2nd quarter valued at $126,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Sonoco Products by 18.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,752 shares of the industrial products company’s stock valued at $193,000 after purchasing an additional 589 shares in the last quarter. Seven Eight Capital LP purchased a new stake in shares of Sonoco Products in the 2nd quarter valued at $206,000. Tudor Investment Corp ET AL purchased a new stake in shares of Sonoco Products in the 2nd quarter valued at $220,000. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in shares of Sonoco Products by 8.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,190 shares of the industrial products company’s stock valued at $222,000 after purchasing an additional 342 shares in the last quarter. 72.46% of the stock is owned by institutional investors.

Sonoco Products Company Profile

Sonoco Products Company is engaged in manufacturing of industrial and consumer packaging products, and providing packaging services. The Company operates in four segments: Consumer Packaging, Paper and Industrial Converted Products, Display and Packaging, and Protective Solutions. Its Consumer Packaging segment’s products and services include round composite cans, aluminum, steel and peelable membrane easy-open closures for composite and metal cans; plastic bottles, cups and trays, and printed flexible packaging and global brand management.

Analyst Recommendations for Sonoco Products (NYSE:SON)

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