Sonoco Products Company (NYSE:SON) Announces Quarterly Dividend of $0.53

Key Points

• Sonoco Products Company declared a quarterly dividend of $0.53 per share, with an ex-dividend date set for November 10th and payment scheduled for December 10th.
• The company has a current payout ratio of 32.6%, indicating its dividend is well-covered by earnings and analysts expect it to continue this trend with earnings projected at $6.85 per share next year.
• Sonoco Products has a market cap of $3.90 billion and reported quarterly earnings of $1.00 earnings per share with revenues of $1.35 billion.

Sonoco Products Company (NYSE:SON - Get Free Report) declared a quarterly dividend on Tuesday, October 14th. Investors of record on Monday, November 10th will be paid a dividend of 0.53 per share by the industrial products company on Wednesday, December 10th. This represents a c) annualized dividend and a yield of 5.4%. The ex-dividend date is Monday, November 10th.

Sonoco Products has a payout ratio of 32.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Sonoco Products to earn $6.85 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 30.9%.

Sonoco Products Trading Up 0.2%

Shares of SON stock opened at $39.56 on Wednesday. Sonoco Products has a 12 month low of $39.13 and a 12 month high of $55.33. The company has a quick ratio of 0.72, a current ratio of 1.25 and a debt-to-equity ratio of 1.53. The business's 50 day moving average is $45.18 and its two-hundred day moving average is $45.16. The company has a market cap of $3.90 billion, a PE ratio of 7.09, a price-to-earnings-growth ratio of 0.64 and a beta of 0.68.

Sonoco Products (NYSE:SON - Get Free Report) last announced its quarterly earnings data on Wednesday, June 22nd. The industrial products company reported $1.00 earnings per share (EPS) for the quarter. The business had revenue of $1.35 billion for the quarter. Sonoco Products had a net margin of 8.35% and a return on equity of 20.46%. Sonoco Products has set its Q2 2022 guidance at $1.60-$1.70 EPS. Equities analysts predict that Sonoco Products will post 6.1 EPS for the current year.

Hedge Funds Weigh In On Sonoco Products

A number of hedge funds have recently made changes to their positions in SON. Sequoia Financial Advisors LLC acquired a new stake in Sonoco Products in the first quarter valued at approximately $820,000. Principal Financial Group Inc. grew its stake in Sonoco Products by 0.5% in the 1st quarter. Principal Financial Group Inc. now owns 226,179 shares of the industrial products company's stock valued at $10,685,000 after purchasing an additional 1,044 shares during the period. OneDigital Investment Advisors LLC bought a new position in Sonoco Products in the 1st quarter valued at $232,000. World Investment Advisors purchased a new position in shares of Sonoco Products during the 1st quarter valued at $1,347,000. Finally, Janney Montgomery Scott LLC lifted its position in shares of Sonoco Products by 29.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 23,004 shares of the industrial products company's stock valued at $1,087,000 after buying an additional 5,278 shares during the last quarter. 77.69% of the stock is currently owned by institutional investors.

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.

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