Sonoco Products (NYSE:SON) Given Consensus Rating of “Hold” by Analysts

Shares of Sonoco Products (NYSE:SON) have earned an average recommendation of “Hold” from the five analysts that are presently covering the firm, 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 12-month price target among brokerages that have updated their coverage on the stock in the last year is $59.00.

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

Sonoco Products Stock Performance

Shares of SON stock opened at $49.56 on Tuesday. Sonoco Products has a 52-week low of $48.22 and a 52-week high of $61.73. The company has a quick ratio of 1.91, a current ratio of 2.36 and a debt-to-equity ratio of 1.74. The stock has a market cap of $4.87 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 2.14 and a beta of 0.67. The business has a 50-day simple moving average of $51.58 and a 200-day simple moving average of $52.61.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.04. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.72 billion. Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. Sonoco Products’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.46 earnings per share. On average, equities analysts expect that Sonoco Products will post 5.09 EPS for the current year.

Sonoco Products Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.20%. Sonoco Products’s dividend payout ratio is currently 71.48%.

Institutional Investors Weigh In On Sonoco Products

Several institutional investors have recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV lifted its position in shares of Sonoco Products by 2.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 8,862 shares of the industrial products company’s stock valued at $445,000 after acquiring an additional 237 shares in the last quarter. Creative Financial Designs Inc. ADV raised its stake in Sonoco Products by 13.9% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 2,373 shares of the industrial products company’s stock valued at $130,000 after purchasing an additional 289 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Sonoco Products by 1.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,765 shares of the industrial products company’s stock valued at $1,002,000 after purchasing an additional 298 shares in the last quarter. TD Asset Management Inc boosted its stake in Sonoco Products by 2.0% during the 2nd quarter. TD Asset Management Inc now owns 15,200 shares of the industrial products company’s stock worth $771,000 after purchasing an additional 300 shares during the last quarter. Finally, Curi RMB Capital LLC grew its holdings in shares of Sonoco Products by 2.4% during the third quarter. Curi RMB Capital LLC now owns 12,979 shares of the industrial products company’s stock worth $709,000 after buying an additional 304 shares in the last quarter. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Sonoco Products Company Profile

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.