Sonoco Products Company (NYSE:SON) Given Average Rating of "Hold" by Brokerages

Key Points

• Analyst consensus: "Hold" — Eleven brokerages cover Sonoco, with a consensus rating of "Hold" (six hold, five buy) and an average 1-year price target of $61.89.
• Earnings and growth — Sonoco reported Q4 EPS of $1.05 (beat by $0.04) and revenue of $1.77B, up 29.7% year‑over‑year, and analysts expect roughly $6.1 EPS for the current year.
• Dividend and valuation — The company pays a $0.53 quarterly dividend (annualized $2.12, ~3.8% yield, 21% payout ratio) and trades at a P/E of 5.61 with a market cap of $5.58B and a 52‑week range of $38.65–$58.44.

Sonoco Products Company (NYSE:SON - Get Free Report) has been assigned a consensus rating of "Hold" from the eleven brokerages that are covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $61.8889.

A number of analysts recently issued reports on the company. Raymond James Financial reiterated a "market perform" rating on shares of Sonoco Products in a report on Friday, March 6th. UBS Group lowered their price target on Sonoco Products from $62.00 to $59.00 and set a "neutral" rating for the company in a report on Friday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Sonoco Products in a research note on Wednesday, April 1st. They issued a "buy" rating and a $63.00 price objective for the company. Wells Fargo & Company reduced their price objective on shares of Sonoco Products from $60.00 to $56.00 and set an "equal weight" rating for the company in a research note on Friday, March 20th. Finally, Citigroup boosted their price objective on shares of Sonoco Products from $52.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, February 19th.

Sonoco Products Stock Up 0.2%

Shares of NYSE SON opened at $56.46 on Monday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.60 and a current ratio of 1.05. The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of 5.61, a PEG ratio of 1.13 and a beta of 0.50. The stock has a 50 day moving average price of $53.67 and a 200 day moving average price of $46.74. Sonoco Products has a 52-week low of $38.65 and a 52-week high of $58.44.

Sonoco Products (NYSE:SON - Get Free Report) last announced its quarterly earnings results on Tuesday, February 17th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.04. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.76 billion. Sonoco Products had a return on equity of 18.52% and a net margin of 13.34%.Sonoco Products's quarterly revenue was up 29.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.17 earnings per share. Sell-side analysts expect that Sonoco Products will post 6.1 earnings per share for the current year.

Sonoco Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Wednesday, February 25th were paid a $0.53 dividend. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $2.12 dividend on an annualized basis and a yield of 3.8%. Sonoco Products's payout ratio is 21.05%.

Insider Buying and Selling

In related news, insider Ernest D. Haynes III sold 1,581 shares of the business's stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $56.39, for a total value of $89,152.59. Following the completion of the transaction, the insider owned 9,377 shares of the company's stock, valued at $528,769.03. The trade was a 14.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.98% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sonoco Products

Large investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. raised its stake in Sonoco Products by 77.7% in the fourth quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company's stock worth $26,000 after buying an additional 258 shares in the last quarter. LRI Investments LLC bought a new position in Sonoco Products in the fourth quarter worth approximately $29,000. Cornerstone Planning Group LLC bought a new position in Sonoco Products in the third quarter worth approximately $29,000. True Wealth Design LLC increased its position in shares of Sonoco Products by 172.5% during the third quarter. True Wealth Design LLC now owns 744 shares of the industrial products company's stock worth $32,000 after purchasing an additional 471 shares in the last quarter. Finally, Ameriflex Group Inc. increased its position in shares of Sonoco Products by 1,263.6% during the third quarter. Ameriflex Group Inc. now owns 900 shares of the industrial products company's stock worth $39,000 after purchasing an additional 834 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.

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