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

Sonoco Products (NYSE:SON) had its target price lowered by analysts at Truist Financial from $65.00 to $64.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price target would suggest a potential upside of 20.30% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. Wall Street Zen lowered shares of Sonoco Products from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Sonoco Products in a research note on Wednesday, April 1st. They issued a “buy” rating and a $63.00 target price on the stock. Weiss Ratings raised Sonoco Products from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, June 29th. Wells Fargo & Company lowered their target price on Sonoco Products from $60.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Friday, March 20th. Finally, Citigroup upped their price target on Sonoco Products from $63.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Five equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $61.33.

Sonoco Products Stock Performance

Shares of Sonoco Products stock opened at $53.20 on Wednesday. The business’s fifty day simple moving average is $51.31 and its 200 day simple moving average is $51.39. The company has a current ratio of 0.96, a quick ratio of 0.54 and a debt-to-equity ratio of 0.97. Sonoco Products has a 12 month low of $38.65 and a 12 month high of $58.44. The firm has a market capitalization of $5.26 billion, a P/E ratio of 5.22, a price-to-earnings-growth ratio of 1.13 and a beta of 0.37.

Sonoco Products (NYSE:SON) last announced its quarterly earnings data 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). The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.88 billion. Sonoco Products had a net margin of 13.57% and a return on equity of 16.50%. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.38 EPS. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. As a group, analysts anticipate that Sonoco Products will post 5.81 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Paul Joachimczyk acquired 8,058 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The shares were acquired at an average price of $49.64 per share, with a total value of $399,999.12. Following the acquisition, the chief financial officer owned 28,558 shares of the company’s stock, valued at approximately $1,417,619.12. This trade represents a 39.31% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider James A. Harrell III bought 6,753 shares of the business’s stock in a transaction on Monday, April 27th. The stock was bought at an average price of $50.37 per share, with a total value of $340,148.61. Following the purchase, the insider owned 10,070 shares in the company, valued at $507,225.90. This trade represents a 203.59% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 0.98% of the company’s stock.

Institutional Trading of Sonoco Products

A number of large investors have recently modified their holdings of the business. Wasatch Advisors LP grew its holdings in shares of Sonoco Products by 15.9% during the second quarter. Wasatch Advisors LP now owns 81,167 shares of the industrial products company’s stock worth $4,574,000 after purchasing an additional 11,130 shares in the last quarter. Evanson Financial LLC purchased a new stake in Sonoco Products in the second quarter valued at approximately $165,000. Hilltop National Bank lifted its position in Sonoco Products by 49.7% during the second quarter. Hilltop National Bank now owns 1,777 shares of the industrial products company’s stock valued at $100,000 after purchasing an additional 590 shares during the last quarter. Access Investment Management LLC lifted its position in Sonoco Products by 11.5% during the first quarter. Access Investment Management LLC now owns 289,855 shares of the industrial products company’s stock valued at $15,678,000 after purchasing an additional 29,980 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in Sonoco Products by 19.0% in the 1st quarter. Bank of America Corp DE now owns 3,312,638 shares of the industrial products company’s stock worth $179,181,000 after buying an additional 528,292 shares in the last quarter. Institutional investors own 77.69% of the company’s stock.

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.