Sonoco Products (NYSE:SON) Receives $59.00 Average Price Target from Analysts

Sonoco Products (NYSE:SON) has received a consensus rating of “Hold” from the five ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $59.00.

Several research firms have recently commented on SON. Truist Financial assumed coverage on shares of Sonoco Products in a report on Tuesday, November 26th. They issued a “buy” rating and a $63.00 price objective on the stock. Wells Fargo & Company downgraded Sonoco Products from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $54.00 to $52.00 in a research report on Wednesday, August 21st. Citigroup boosted their price objective on Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Finally, Robert W. Baird lowered their price objective 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.

Sonoco Products Stock Performance

Shares of SON opened at $51.88 on Friday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.91 and a current ratio of 2.36. The stock has a 50-day moving average of $52.37 and a two-hundred day moving average of $53.65. The stock has a market cap of $5.10 billion, a P/E ratio of 17.83, a P/E/G ratio of 2.14 and a beta of 0.69. Sonoco Products has a one year low of $48.22 and a one year high of $61.73.

Sonoco Products (NYSE:SON) last released its earnings results 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 return on equity of 19.92% and a net margin of 4.38%. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the previous year, the company posted $1.46 earnings per share. The company’s revenue was down 2.0% compared to the same quarter last year. As a group, research analysts predict that Sonoco Products will post 5.09 EPS for the current year.

Sonoco Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.01%. Sonoco Products’s dividend payout ratio (DPR) is 71.48%.

Institutional Investors Weigh In On Sonoco Products

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kennebec Savings Bank purchased a new position in Sonoco Products during the third quarter valued at $27,000. Capital Performance Advisors LLP purchased a new stake in shares of Sonoco Products during the third quarter worth $33,000. Abich Financial Wealth Management LLC acquired a new stake in shares of Sonoco Products in the second quarter valued at about $50,000. Gradient Investments LLC acquired a new position in Sonoco Products during the second quarter worth about $58,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Sonoco Products during the 3rd quarter valued at about $71,000. Hedge funds and other institutional investors own 77.69% of the company’s stock.

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.