Citigroup Issues Positive Forecast for Sonoco Products (NYSE:SON) Stock Price

Sonoco Products (NYSE:SON) had its target price raised by Citigroup from $63.00 to $66.00 in a report released on Thursday morning,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Other analysts have also recently issued reports about the company. Truist Financial reissued a “buy” rating and issued a $65.00 target price (down from $68.00) on shares of Sonoco Products in a research note on Tuesday, April 28th. Wall Street Zen downgraded shares of Sonoco Products from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Wells Fargo & Company decreased their price objective on shares of Sonoco Products from $60.00 to $56.00 and set an “equal weight” rating for the company in a report on Friday, March 20th. UBS Group cut their price objective on Sonoco Products from $62.00 to $59.00 and set a “neutral” rating on the stock in a research report on Friday, April 10th. Finally, Weiss Ratings upgraded Sonoco Products from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, June 29th. Five investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Sonoco Products currently has a consensus rating of “Hold” and an average target price of $60.44.

Sonoco Products Price Performance

SON stock opened at $55.10 on Thursday. The firm has a market cap of $5.45 billion, a P/E ratio of 5.40, a P/E/G ratio of 1.15 and a beta of 0.37. The firm’s fifty day moving average is $51.05 and its 200 day moving average is $51.16. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.54 and a current ratio of 0.96. Sonoco Products has a 52 week low of $38.65 and a 52 week high of $58.44.

Sonoco Products (NYSE:SON) last released its earnings results on Tuesday, April 21st. The industrial products company reported $1.20 earnings per share 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 during the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the firm posted $1.38 EPS. The company’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. Research analysts predict that Sonoco Products will post 5.81 earnings per share for the current year.

Sonoco Products Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 8th were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.9%. This is a positive change from Sonoco Products’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, May 8th. Sonoco Products’s payout ratio is currently 21.18%.

Insider Activity at Sonoco Products

In other news, insider James A. Harrell III purchased 6,753 shares of the stock in a transaction dated Monday, April 27th. The shares were purchased at an average cost of $50.37 per share, with a total value of $340,148.61. Following the acquisition, the insider directly owned 10,070 shares of the company’s stock, valued at $507,225.90. This represents a 203.59% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Paul Joachimczyk bought 8,058 shares of the company’s stock in a transaction on 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 directly owned 28,558 shares of the company’s stock, valued at approximately $1,417,619.12. The trade was a 39.31% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.98% of the company’s stock.

Institutional Investors Weigh In On Sonoco Products

Hedge funds have recently modified their holdings of the business. DAVENPORT & Co LLC increased its position in shares of Sonoco Products by 202.0% during the fourth quarter. DAVENPORT & Co LLC now owns 31,053 shares of the industrial products company’s stock worth $1,355,000 after acquiring an additional 20,771 shares during the period. SG Americas Securities LLC grew its stake 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 purchasing an additional 721,095 shares in the last quarter. UBS Group AG increased its holdings in Sonoco Products by 57.8% during the 4th quarter. UBS Group AG now owns 303,784 shares of the industrial products company’s stock worth $13,257,000 after purchasing an additional 111,295 shares during the period. LSV Asset Management increased its holdings in Sonoco Products by 95.7% during the 4th quarter. LSV Asset Management now owns 1,563,390 shares of the industrial products company’s stock worth $68,226,000 after purchasing an additional 764,590 shares during the period. Finally, Thompson Siegel & Walmsley LLC bought a new stake in Sonoco Products during the 4th quarter valued at $7,774,000. 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.