Sonoco Products (NYSE:SON) Given New $64.00 Price Target at Truist Financial

Sonoco Products (NYSE:SON) had its target price lowered by Truist Financial from $65.00 to $64.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

A number of other equities analysts also recently weighed in on SON. Argus upgraded shares of Sonoco Products to a “hold” rating in a report on Monday, April 20th. Weiss Ratings raised shares of Sonoco Products from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, June 29th. UBS Group lowered their price objective on shares of Sonoco Products from $62.00 to $59.00 and set a “neutral” rating on the stock in a research note on Friday, April 10th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Sonoco Products in a report on Wednesday, April 1st. They issued a “buy” rating and a $63.00 target price on the stock. Finally, Wells Fargo & Company cut their target price on shares of Sonoco Products from $60.00 to $56.00 and set an “equal weight” rating for the company in a research note on Friday, March 20th. Five equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $61.33.

Sonoco Products Stock Up 1.0%

SON stock opened at $53.74 on Wednesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.96 and a quick ratio of 0.54. The stock has a market capitalization of $5.31 billion, a P/E ratio of 5.27, a P/E/G ratio of 1.12 and a beta of 0.37. Sonoco Products has a fifty-two week low of $38.65 and a fifty-two week high of $58.44. The business has a 50-day moving average of $51.33 and a 200-day moving average of $51.47.

Sonoco Products (NYSE:SON) last announced its earnings results on Tuesday, April 21st. The industrial products company reported $1.20 earnings per share (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 firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the business posted $1.38 EPS. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. On average, sell-side analysts anticipate that Sonoco Products will post 5.81 earnings per share for the current fiscal year.

Insider Transactions at Sonoco Products

In other Sonoco Products news, insider James A. Harrell III bought 6,753 shares of the stock in a transaction dated Monday, April 27th. The shares were bought at an average cost of $50.37 per share, with a total value of $340,148.61. Following the completion of the acquisition, the insider owned 10,070 shares of the company’s stock, valued at $507,225.90. This trade represents a 203.59% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Paul Joachimczyk purchased 8,058 shares of the company’s stock in a transaction dated Friday, April 24th. The stock was acquired at an average price of $49.64 per share, with a total value 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 position. The disclosure for this purchase is available in the SEC filing. 0.98% of the stock is currently owned by company insiders.

Institutional Trading of Sonoco Products

A number of institutional investors have recently modified their holdings of SON. SBI Securities Co. Ltd. grew its position in Sonoco Products by 77.7% in the fourth quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 258 shares during the last quarter. LRI Investments LLC bought a new stake in shares of Sonoco Products during the 4th quarter valued at approximately $29,000. WPG Advisers LLC grew its holdings in shares of Sonoco Products by 93.1% during the 1st 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 during the last quarter. Larson Financial Group LLC increased its position in Sonoco Products by 1,826.9% during the 3rd 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 in the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new position in Sonoco Products during the 4th quarter worth approximately $47,000. 77.69% of the stock is currently owned by institutional investors.

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.