Sonoco Products Company (NYSE:SON) Receives Average Recommendation of “Hold” from Analysts

Sonoco Products Company (NYSE:SON) has received an average recommendation of “Hold” from the nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $54.8571.

Several equities analysts recently commented on the stock. Zacks Research upgraded shares of Sonoco Products from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. Weiss Ratings restated a “hold (c-)” rating on shares of Sonoco Products in a report on Wednesday, January 21st. Wells Fargo & Company reiterated an “equal weight” rating and issued a $47.00 target price (down previously from $52.00) on shares of Sonoco Products in a research note on Tuesday, January 6th. Truist Financial boosted their price target on Sonoco Products from $53.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Finally, Jefferies Financial Group cut their price target on Sonoco Products from $61.00 to $60.00 and set a “buy” rating for the company in a report on Friday, October 24th.

Sonoco Products Stock Down 1.6%

Shares of SON stock opened at $48.15 on Wednesday. Sonoco Products has a 12 month low of $38.65 and a 12 month high of $50.09. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 1.14. The firm has a market cap of $4.75 billion, a PE ratio of 7.64, a price-to-earnings-growth ratio of 0.76 and a beta of 0.55. The stock has a 50 day moving average of $44.19 and a 200-day moving average of $44.14.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. AQR Capital Management LLC boosted its stake in Sonoco Products by 357.8% during the third quarter. AQR Capital Management LLC now owns 2,117,022 shares of the industrial products company’s stock worth $90,693,000 after buying an additional 1,654,576 shares in the last quarter. Norges Bank bought a new position in shares of Sonoco Products during the 2nd quarter worth about $53,618,000. Nordea Investment Management AB boosted its position in shares of Sonoco Products by 70.1% during the 2nd quarter. Nordea Investment Management AB now owns 2,827,569 shares of the industrial products company’s stock valued at $122,914,000 after acquiring an additional 1,164,849 shares in the last quarter. SG Americas Securities LLC increased 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 valued at $31,776,000 after acquiring an additional 721,095 shares during the period. Finally, LSV Asset Management raised its position in Sonoco Products by 105.6% in the third quarter. LSV Asset Management now owns 798,800 shares of the industrial products company’s stock worth $34,420,000 after purchasing an additional 410,200 shares in the last quarter. 77.69% of the stock is currently 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.