Sonoco Products Company (NYSE:SON) Receives $56.13 Average PT from Analysts

Sonoco Products Company (NYSE:SON - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the eight analysts that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $56.75.

Several equities research analysts recently weighed in on SON shares. Wall Street Zen raised shares of Sonoco Products from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Truist Financial dropped their price target on shares of Sonoco Products from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Friday. Raymond James Financial boosted their price objective on Sonoco Products from $50.00 to $55.00 and gave the stock an "outperform" rating in a report on Tuesday. Jefferies Financial Group initiated coverage on Sonoco Products in a research note on Tuesday, April 22nd. They set a "buy" rating and a $62.00 target price on the stock. Finally, Wells Fargo & Company raised Sonoco Products from an "underweight" rating to an "overweight" rating and lifted their target price for the company from $45.00 to $55.00 in a research note on Friday, May 23rd.

Insider Activity at Sonoco Products

In related news, Director Robert R. Hill, Jr. acquired 5,475 shares of the company's stock in a transaction on Wednesday, April 30th. The stock was purchased at an average cost of $40.34 per share, with a total value of $220,861.50. Following the acquisition, the director directly owned 29,540 shares of the company's stock, valued at approximately $1,191,643.60. The trade was a 22.75% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John R. Haley purchased 2,246 shares of the stock in a transaction dated Friday, May 2nd. The shares were acquired at an average cost of $44.57 per share, with a total value of $100,104.22. Following the acquisition, the director directly owned 20,804 shares in the company, valued at $927,234.28. This represents a 12.10% increase in their position. The disclosure for this purchase can be found here. Insiders bought 27,721 shares of company stock worth $1,144,366 in the last ninety days. 0.74% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. boosted its stake in Sonoco Products by 508.1% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 900 shares of the industrial products company's stock valued at $43,000 after buying an additional 752 shares during the period. UMB Bank n.a. increased its holdings in Sonoco Products by 152.7% during the 1st quarter. UMB Bank n.a. now owns 950 shares of the industrial products company's stock valued at $45,000 after purchasing an additional 574 shares during the period. Quarry LP increased its holdings in Sonoco Products by 111.3% during the 4th quarter. Quarry LP now owns 970 shares of the industrial products company's stock valued at $47,000 after purchasing an additional 511 shares during the period. Colonial Trust Co SC increased its holdings in Sonoco Products by 90.6% during the 4th quarter. Colonial Trust Co SC now owns 953 shares of the industrial products company's stock valued at $47,000 after purchasing an additional 453 shares during the period. Finally, Allworth Financial LP increased its holdings in Sonoco Products by 152.0% during the 1st quarter. Allworth Financial LP now owns 1,071 shares of the industrial products company's stock valued at $50,000 after purchasing an additional 646 shares during the period. 77.69% of the stock is owned by institutional investors and hedge funds.

Sonoco Products Trading Down 1.2%

Shares of SON traded down $0.56 during mid-day trading on Friday, hitting $45.55. The company had a trading volume of 300,718 shares, compared to its average volume of 762,807. The business's 50-day simple moving average is $45.22 and its 200-day simple moving average is $46.05. The company has a quick ratio of 0.51, a current ratio of 0.80 and a debt-to-equity ratio of 2.02. Sonoco Products has a 1-year low of $39.46 and a 1-year high of $56.77. The stock has a market cap of $4.49 billion, a PE ratio of 29.64, a P/E/G ratio of 0.61 and a beta of 0.68.

Sonoco Products (NYSE:SON - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.41 by ($0.03). The firm had revenue of $1.71 billion for the quarter, compared to analysts' expectations of $2.02 billion. Sonoco Products had a net margin of 2.40% and a return on equity of 21.78%. The company's revenue for the quarter was up 30.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.12 EPS. Sell-side analysts forecast that Sonoco Products will post 6.1 earnings per share for the current year.

Sonoco Products Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were paid a $0.53 dividend. The ex-dividend date was Friday, May 9th. This is an increase from Sonoco Products's previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a yield of 4.65%. Sonoco Products's payout ratio is 137.66%.

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.