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

Shares of Sonoco Products (NYSE:SON) have received a consensus rating of “Hold” from the five brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $59.00.

SON has been the topic of several research analyst reports. Robert W. Baird decreased their price objective on shares of Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Citigroup increased their price target on Sonoco Products from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Finally, Truist Financial assumed coverage on Sonoco Products in a research report on Tuesday, November 26th. They issued a “buy” rating and a $63.00 price objective for the company.

Hedge Funds Weigh In On Sonoco Products

Institutional investors have recently modified their holdings of the business. Franklin Resources Inc. raised its holdings in shares of Sonoco Products by 110.4% during the third quarter. Franklin Resources Inc. now owns 73,501 shares of the industrial products company’s stock worth $4,018,000 after acquiring an additional 38,564 shares during the period. Tidal Investments LLC raised its stake in shares of Sonoco Products by 36.0% in the 3rd quarter. Tidal Investments LLC now owns 25,941 shares of the industrial products company’s stock valued at $1,417,000 after purchasing an additional 6,869 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Sonoco Products in the third quarter valued at about $71,000. Sanctuary Advisors LLC boosted its position in shares of Sonoco Products by 23.6% during the third quarter. Sanctuary Advisors LLC now owns 17,482 shares of the industrial products company’s stock worth $890,000 after buying an additional 3,341 shares during the period. Finally, TD Private Client Wealth LLC grew its holdings in shares of Sonoco Products by 33.4% during the third quarter. TD Private Client Wealth LLC now owns 3,213 shares of the industrial products company’s stock worth $176,000 after buying an additional 804 shares in the last quarter. Institutional investors own 77.69% of the company’s stock.

Sonoco Products Price Performance

Shares of NYSE:SON opened at $48.89 on Tuesday. The firm has a market capitalization of $4.80 billion, a PE ratio of 16.80, a PEG ratio of 2.14 and a beta of 0.67. The company has a current ratio of 2.36, a quick ratio of 1.91 and a debt-to-equity ratio of 1.74. Sonoco Products has a 1-year low of $48.22 and a 1-year high of $61.73. The business’s 50 day moving average is $51.11 and its 200-day moving average is $52.30.

Sonoco Products (NYSE:SON) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. Sonoco Products had a net margin of 4.38% and a return on equity of 19.92%. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period last year, the firm earned $1.46 EPS. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. Sell-side analysts predict that Sonoco Products will post 5.09 earnings per share for the current year.

Sonoco Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 8th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date of this dividend was Friday, November 8th. Sonoco Products’s dividend payout ratio is currently 71.48%.

About Sonoco Products

Sonoco Products Company, together with its subsidiaries, designs, develops, manufactures, and sells various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates Consumer Packaging and Industrial Paper Packaging segments. The Consumer Packaging segment offers round and shaped rigid paper, steel, and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays and enclosures; and high-barrier flexible packaging products.