Sonoco Products Company (NYSE:SON) Receives Consensus Rating of “Hold” from Brokerages

Sonoco Products Company (NYSE:SON) has been given an average recommendation of “Hold” by the ten analysts that are presently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $62.6250.

Several analysts recently issued reports on the stock. Raymond James Financial reaffirmed a “market perform” rating on shares of Sonoco Products in a research note on Friday, March 6th. Robert W. Baird raised their target price on shares of Sonoco Products from $48.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 18th. Truist Financial restated a “buy” rating and set a $69.00 target price (up from $54.00) on shares of Sonoco Products in a report on Friday, February 20th. Citigroup upped their price target on Sonoco Products from $52.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. Finally, Wells Fargo & Company increased their price target on Sonoco Products from $47.00 to $60.00 and gave the company an “equal weight” rating in a report on Wednesday, February 18th.

Insider Activity at Sonoco Products

In other news, insider Ernest D. Haynes III sold 1,581 shares of Sonoco Products stock in a transaction on Friday, February 27th. The stock was sold at an average price of $56.39, for a total transaction of $89,152.59. Following the transaction, the insider owned 9,377 shares in the company, valued at $528,769.03. The trade was a 14.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.74% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sonoco Products

Hedge funds and other institutional investors have recently bought and sold shares of the company. Anchor Investment Management LLC raised its stake in Sonoco Products by 1.1% during the fourth quarter. Anchor Investment Management LLC now owns 42,332 shares of the industrial products company’s stock worth $1,847,000 after purchasing an additional 453 shares during the period. Invesco Ltd. boosted its holdings in Sonoco Products by 13.5% in the 4th quarter. Invesco Ltd. now owns 1,498,703 shares of the industrial products company’s stock valued at $65,403,000 after purchasing an additional 178,638 shares during the last quarter. Ameriflex Group Inc. grew its stake in shares of Sonoco Products by 82.1% in the 4th quarter. Ameriflex Group Inc. now owns 1,639 shares of the industrial products company’s stock valued at $72,000 after buying an additional 739 shares during the period. Mercer Global Advisors Inc. ADV increased its holdings in shares of Sonoco Products by 22.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 34,582 shares of the industrial products company’s stock worth $1,509,000 after buying an additional 6,345 shares during the last quarter. Finally, First Citizens Bank & Trust Co. acquired a new stake in shares of Sonoco Products during the 4th quarter worth approximately $922,000. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Sonoco Products Trading Down 2.3%

Shares of SON opened at $52.36 on Thursday. Sonoco Products has a 52-week low of $38.65 and a 52-week high of $58.44. The company has a quick ratio of 0.60, a current ratio of 1.05 and a debt-to-equity ratio of 1.04. The firm’s fifty day moving average is $51.73 and its two-hundred day moving average is $45.86. The stock has a market cap of $5.18 billion, a PE ratio of 5.20, a price-to-earnings-growth ratio of 1.08 and a beta of 0.51.

Sonoco Products (NYSE:SON) last issued its earnings results on Tuesday, February 17th. The industrial products company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.04. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Sonoco Products had a net margin of 13.34% and a return on equity of 18.52%. The company’s quarterly revenue was up 29.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.17 earnings per share. Research analysts forecast that Sonoco Products will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 25th were paid a $0.53 dividend. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.0%. Sonoco Products’s dividend payout ratio (DPR) is 21.05%.

Sonoco Products Company Profile

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.