Sonoco Products (NYSE:SON) Receives $60.17 Average PT from Analysts

Shares of Sonoco Products (NYSE:SON) have received an average rating of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $60.17.

A number of research analysts recently commented on the company. Bank of America upped their target price on Sonoco Products from $66.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Truist Financial raised their price objective on shares of Sonoco Products from $63.00 to $68.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Robert W. Baird lowered their target price 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 cut their price target on shares of Sonoco Products from $59.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Wells Fargo & Company lowered their price objective on Sonoco Products from $52.00 to $50.00 and set an “underweight” rating on the stock in a research note on Monday, January 6th.

Sonoco Products Stock Performance

NYSE SON opened at $48.22 on Wednesday. The company’s fifty day moving average is $48.46 and its two-hundred day moving average is $51.11. Sonoco Products has a 52-week low of $45.93 and a 52-week high of $61.73. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.36 and a quick ratio of 1.91. The firm has a market capitalization of $4.74 billion, a price-to-earnings ratio of 16.57, a P/E/G ratio of 0.76 and a beta of 0.67.

Sonoco Products (NYSE:SON) last released its earnings results on Tuesday, February 18th. The industrial products company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.01). Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. Equities research analysts forecast that Sonoco Products will post 5.08 EPS for the current year.

Sonoco Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Wednesday, February 26th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date of this dividend is Wednesday, February 26th. Sonoco Products’s dividend payout ratio (DPR) is currently 71.48%.

Insider Buying and Selling

In related news, Director Robert R. Hill, Jr. sold 4,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $47.95, for a total transaction of $191,800.00. Following the transaction, the director now owns 16,065 shares in the company, valued at $770,316.75. This represents a 19.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.51% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sonoco Products

A number of institutional investors have recently modified their holdings of the stock. Kennebec Savings Bank acquired a new stake in shares of Sonoco Products in the third quarter valued at approximately $27,000. Capital Performance Advisors LLP bought a new position in Sonoco Products in the 3rd quarter valued at $33,000. Quarry LP increased its stake in shares of Sonoco Products by 111.3% in the 4th quarter. Quarry LP now owns 970 shares of the industrial products company’s stock valued at $47,000 after buying an additional 511 shares during the period. Colonial Trust Co SC raised its position in shares of Sonoco Products by 90.6% during the fourth quarter. Colonial Trust Co SC now owns 953 shares of the industrial products company’s stock worth $47,000 after acquiring an additional 453 shares during the last quarter. Finally, True Wealth Design LLC lifted its stake in shares of Sonoco Products by 650.7% during the fourth quarter. True Wealth Design LLC now owns 1,096 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 950 shares during the period. 77.69% of the stock is owned by institutional investors.

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.