Sonoco Products (NYSE:SON) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Sonoco Products Company (NYSE:SON)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $50.19 and traded as high as $54.81. Sonoco Products shares last traded at $54.2650, with a volume of 1,153,494 shares.

Wall Street Analyst Weigh In

SON has been the subject of a number of research reports. Truist Financial reaffirmed a “buy” rating and set a $65.00 price target (down from $68.00) on shares of Sonoco Products in a research note on Tuesday, April 28th. Bank of America reissued a “buy” rating on shares of Sonoco Products in a research note on Wednesday, April 22nd. Wells Fargo & Company cut their price objective on Sonoco Products from $60.00 to $56.00 and set an “equal weight” rating for the company in a report on Friday, March 20th. Deutsche Bank Aktiengesellschaft assumed coverage on Sonoco Products in a research note on Wednesday, April 1st. They set a “buy” rating and a $63.00 target price for the company. Finally, Argus raised Sonoco Products to a “hold” rating in a report on Monday, April 20th. Five analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $60.11.

Sonoco Products Price Performance

The firm has a market capitalization of $5.37 billion, a P/E ratio of 5.32, a P/E/G ratio of 1.12 and a beta of 0.39. The business’s fifty day moving average is $50.35 and its 200 day moving average is $50.19. The company has a current ratio of 0.96, a quick ratio of 0.54 and a debt-to-equity ratio of 0.97.

Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.37). Sonoco Products had a net margin of 13.57% and a return on equity of 16.50%. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the company posted $1.38 EPS. Sonoco Products’s revenue was down 1.9% on a year-over-year basis. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. As a group, analysts forecast that Sonoco Products Company will post 5.81 EPS for the current year.

Sonoco Products Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 8th were paid a $0.54 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $2.16 dividend on an annualized basis and a yield of 4.0%. This is an increase from Sonoco Products’s previous quarterly dividend of $0.53. Sonoco Products’s dividend payout ratio (DPR) is 21.18%.

Insider Activity

In other news, insider James A. Harrell III bought 6,753 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was bought at an average cost of $50.37 per share, for a total transaction of $340,148.61. Following the completion of the acquisition, the insider directly owned 10,070 shares in the company, valued at $507,225.90. This represents a 203.59% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Paul Joachimczyk bought 8,058 shares of the company’s stock in a transaction dated Friday, April 24th. The stock was purchased at an average cost of $49.64 per share, for a total transaction of $399,999.12. Following the completion of the transaction, the chief financial officer owned 28,558 shares of the company’s stock, valued at $1,417,619.12. This represents a 39.31% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.98% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sonoco Products

Several hedge funds have recently made changes to their positions in the company. DAVENPORT & Co LLC raised its stake in shares of Sonoco Products by 202.0% during the 4th quarter. DAVENPORT & Co LLC now owns 31,053 shares of the industrial products company’s stock worth $1,355,000 after purchasing an additional 20,771 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Sonoco Products in the 3rd quarter valued at approximately $1,556,000. UBS Group AG grew its stake in shares of Sonoco Products by 57.8% in the 4th quarter. UBS Group AG now owns 303,784 shares of the industrial products company’s stock valued at $13,257,000 after buying an additional 111,295 shares in the last quarter. SG Americas Securities LLC increased its holdings in Sonoco Products by 10,238.5% in the fourth quarter. SG Americas Securities LLC now owns 728,138 shares of the industrial products company’s stock worth $31,776,000 after buying an additional 721,095 shares during the last quarter. Finally, LSV Asset Management increased its holdings in Sonoco Products by 95.7% in the fourth quarter. LSV Asset Management now owns 1,563,390 shares of the industrial products company’s stock worth $68,226,000 after buying an additional 764,590 shares during the last quarter. 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 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.