Sonoco Products (NYSE:SON) Price Target Raised to $68.00 at Truist Financial

Sonoco Products (NYSE:SON) had its price target upped by Truist Financial from $64.00 to $68.00 in a research note issued to investors on Friday,Benzinga reports. Truist Financial currently has a buy rating on the industrial products company’s stock.

A number of other analysts also recently weighed in on SON. Citigroup upped their target price on Sonoco Products from $63.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Weiss Ratings downgraded Sonoco Products from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday. Bank of America upped their price objective on shares of Sonoco Products from $65.00 to $69.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft started coverage on shares of Sonoco Products in a research note on Wednesday, April 1st. They set a “buy” rating and a $63.00 price objective on the stock. Finally, Argus upgraded shares of Sonoco Products to a “hold” rating in a research report on Monday, April 20th. Five investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $61.78.

Sonoco Products Price Performance

NYSE:SON opened at $58.27 on Friday. Sonoco Products has a 52 week low of $38.65 and a 52 week high of $58.62. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.54 and a current ratio of 0.99. The firm’s 50-day simple moving average is $52.16 and its 200 day simple moving average is $52.01. The firm has a market cap of $5.76 billion, a price-to-earnings ratio of 9.26, a P/E/G ratio of 1.22 and a beta of 0.37.

Sonoco Products (NYSE:SON) last posted its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.04. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. Sonoco Products had a net margin of 8.41% and a return on equity of 16.50%. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.37 EPS. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. As a group, sell-side analysts predict that Sonoco Products will post 5.82 earnings per share for the current year.

Sonoco Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Monday, August 10th. Sonoco Products’s dividend payout ratio is currently 34.34%.

Insiders Place Their Bets

In other Sonoco Products news, insider James A. Harrell III purchased 6,753 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The shares were acquired at an average price of $50.37 per share, with a total value of $340,148.61. Following the transaction, the insider owned 10,070 shares in the company, valued at $507,225.90. The trade was a 203.59% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.98% of the company’s stock.

Institutional Trading of Sonoco Products

Institutional investors and hedge funds have recently modified their holdings of the stock. SBI Securities Co. Ltd. raised its position in Sonoco Products by 77.7% in the 4th quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company’s stock valued at $26,000 after buying an additional 258 shares during the last quarter. LRI Investments LLC purchased a new stake in shares of Sonoco Products in the fourth quarter valued at about $29,000. WPG Advisers LLC lifted its position in shares of Sonoco Products by 93.1% during the first quarter. WPG Advisers LLC now owns 612 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 295 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Sonoco Products by 1,826.9% during the third quarter. Larson Financial Group LLC now owns 1,002 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 950 shares during the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new position in Sonoco Products during the fourth quarter worth about $47,000. 77.69% of the stock is owned by hedge funds and other institutional investors.

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.