Sonoco Products’ (SON) Buy Rating Reiterated at Truist Financial

Truist Financial restated their buy rating on shares of Sonoco Products (NYSE:SON) in a research report report published on Friday morning,Benzinga reports. Truist Financial currently has a $69.00 price objective on the industrial products company’s stock, up from their prior price objective of $54.00.

Other research analysts have also issued reports about the company. Weiss Ratings restated a “hold (c-)” rating on shares of Sonoco Products in a research report on Wednesday, January 21st. Robert W. Baird lifted their price target on Sonoco Products from $48.00 to $60.00 and gave the stock a “neutral” rating in a report on Wednesday, February 18th. Jefferies Financial Group cut their price target on shares of Sonoco Products from $61.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, October 24th. Wells Fargo & Company boosted their price objective on Sonoco Products from $47.00 to $60.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 18th. Finally, Zacks Research upgraded shares of Sonoco Products from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. Four investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Sonoco Products has a consensus rating of “Hold” and a consensus price target of $62.63.

Sonoco Products Trading Up 0.7%

Shares of SON stock opened at $56.48 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.60 and a debt-to-equity ratio of 1.04. The stock has a market cap of $5.57 billion, a price-to-earnings ratio of 5.61, a PEG ratio of 1.13 and a beta of 0.54. The company’s 50-day moving average price is $47.88 and its 200-day moving average price is $44.81. Sonoco Products has a twelve month low of $38.65 and a twelve month high of $58.44.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Monday, February 16th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.04. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.76 billion. Sonoco Products had a net margin of 13.34% and a return on equity of 18.52%. The business’s revenue was up 29.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.17 EPS. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. As a group, equities analysts predict that Sonoco Products will post 6.1 earnings per share for the current year.

Sonoco Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 25th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Wednesday, February 25th. Sonoco Products’s payout ratio is currently 21.05%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Savant Capital LLC grew its holdings in Sonoco Products by 415.0% during the 3rd quarter. Savant Capital LLC now owns 37,875 shares of the industrial products company’s stock worth $1,632,000 after acquiring an additional 30,520 shares in the last quarter. Allen Wealth Management LLC acquired a new position in shares of Sonoco Products during the third quarter valued at $1,489,000. AlphaQuest LLC raised its holdings in Sonoco Products by 1,237.0% during the third quarter. AlphaQuest LLC now owns 24,079 shares of the industrial products company’s stock worth $1,038,000 after purchasing an additional 22,278 shares in the last quarter. Voya Investment Management LLC raised its position in Sonoco Products by 329.3% in the third quarter. Voya Investment Management LLC now owns 50,390 shares of the industrial products company’s stock worth $2,171,000 after acquiring an additional 38,653 shares in the last quarter. Finally, Pacer Advisors Inc. bought a new position in shares of Sonoco Products in the third quarter valued at $560,000. 77.69% of the stock is owned by institutional investors and hedge funds.

About Sonoco Products

Sonoco Products Company (NYSE: SON) is a global provider of diversified packaging solutions, serving a wide range of consumer, industrial and retail markets. The company offers a broad portfolio that includes rigid paper and plastic containers, flexible packaging, industrial core and tube products, thermoformed plastics, retail point-of-purchase displays, and packaging supply chain services. Through its solutions, Sonoco helps customers in food and beverage, personal care, chemicals, healthcare, home and garden, and electronics industries address their packaging needs, improve product shelf appeal, and optimize logistics efficiency.

With operations in more than 30 countries across North America, South America, Europe, Asia and Africa, Sonoco leverages a global network of manufacturing facilities, recycling centers and distribution channels to meet the demands of multinational and regional customers.