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

Key Points

• Sonoco Products Company has received a consensus recommendation of "Hold" from nine brokerages, with an average 12-month target price of $54.50.
• The company recently announced a quarterly dividend of $0.53 per share, with a dividend yield of 5.3%.
• Shares of Sonoco Products opened at $40.01 on Monday, with a one-year price range between $39.13 and $53.69.

Shares of Sonoco Products Company (NYSE:SON - Get Free Report) have earned a consensus recommendation of "Hold" from the nine brokerages that are currently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $54.50.

Several equities research analysts recently weighed in on the stock. Truist Financial cut their target price on shares of Sonoco Products from $58.00 to $57.00 and set a "buy" rating on the stock in a research note on Monday, October 13th. Citigroup decreased their price objective on Sonoco Products from $56.00 to $55.00 and set a "buy" rating for the company in a research note on Monday, September 29th. Bank of America reiterated a "neutral" rating and issued a $56.00 price objective on shares of Sonoco Products in a research note on Thursday, October 9th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Sonoco Products in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company decreased their price objective on Sonoco Products from $55.00 to $50.00 and set an "overweight" rating for the company in a research note on Wednesday, October 15th.

Sonoco Products Stock Performance

Shares of SON stock opened at $40.01 on Monday. Sonoco Products has a one year low of $39.13 and a one year high of $53.69. The firm's 50 day moving average price is $44.85 and its 200-day moving average price is $45.00. The firm has a market cap of $3.95 billion, a P/E ratio of 7.17, a P/E/G ratio of 0.66 and a beta of 0.68. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.72 and a current ratio of 1.25.

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

Sonoco Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th will be given a $0.53 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.3%. Sonoco Products's dividend payout ratio is currently 37.99%.

Institutional Investors Weigh In On Sonoco Products

Large investors have recently modified their holdings of the company. Beverly Hills Private Wealth LLC raised its holdings in shares of Sonoco Products by 4.1% during the first quarter. Beverly Hills Private Wealth LLC now owns 5,669 shares of the industrial products company's stock worth $268,000 after purchasing an additional 224 shares during the period. CW Advisors LLC raised its holdings in shares of Sonoco Products by 1.5% during the first quarter. CW Advisors LLC now owns 14,791 shares of the industrial products company's stock worth $699,000 after purchasing an additional 224 shares during the period. Federated Hermes Inc. grew its position in shares of Sonoco Products by 2.5% during the first quarter. Federated Hermes Inc. now owns 9,304 shares of the industrial products company's stock worth $440,000 after acquiring an additional 230 shares during the last quarter. Richardson Financial Services Inc. grew its position in shares of Sonoco Products by 13.2% during the second quarter. Richardson Financial Services Inc. now owns 2,185 shares of the industrial products company's stock worth $100,000 after acquiring an additional 255 shares during the last quarter. Finally, State of Michigan Retirement System grew its position in shares of Sonoco Products by 1.3% during the first quarter. State of Michigan Retirement System now owns 23,551 shares of the industrial products company's stock worth $1,113,000 after acquiring an additional 300 shares during the last quarter. 77.69% of the stock is owned by hedge funds and other 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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