Sonoco Products (NYSE:SON) Receives $56.43 Average PT from Brokerages

Shares of Sonoco Products (NYSE:SON - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the seven analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $56.43.

A number of equities analysts have commented on SON shares. Wells Fargo & Company decreased their price target on Sonoco Products from $50.00 to $48.00 and set an "underweight" rating on the stock in a research note on Monday, February 24th. Truist Financial lowered their price target on shares of Sonoco Products from $60.00 to $54.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Bank of America raised their price target on shares of Sonoco Products from $66.00 to $71.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Citigroup lowered their price objective on shares of Sonoco Products from $59.00 to $55.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Finally, StockNews.com cut Sonoco Products from a "hold" rating to a "sell" rating in a research note on Friday, April 25th.

Sonoco Products Price Performance

SON traded down $5.62 during trading on Monday, reaching $41.14. The stock had a trading volume of 3,355,493 shares, compared to its average volume of 763,232. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.91 and a current ratio of 0.79. The business has a 50-day moving average of $45.67 and a 200-day moving average of $48.41. Sonoco Products has a one year low of $39.46 and a one year high of $61.73. The stock has a market cap of $4.06 billion, a PE ratio of 24.93, a PEG ratio of 0.76 and a beta of 0.64.

Sonoco Products (NYSE:SON - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $1.38 EPS for the quarter, missing analysts' consensus estimates of $1.41 by ($0.03). Sonoco Products had a net margin of 2.60% and a return on equity of 20.81%. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the previous year, the business earned $1.12 earnings per share. The firm's revenue was up 30.6% on a year-over-year basis. As a group, equities research analysts anticipate that Sonoco Products will post 6.1 EPS for the current fiscal year.

Sonoco Products Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be issued a dividend of $0.53 per share. This is an increase from Sonoco Products's previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Friday, May 9th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.15%. Sonoco Products's dividend payout ratio is 128.48%.

Insider Activity

In related news, CEO R. Howard Coker purchased 20,000 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were purchased at an average cost of $46.10 per share, with a total value of $922,000.00. Following the transaction, the chief executive officer now directly owns 482,365 shares in the company, valued at $22,237,026.50. This trade represents a 4.33 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John R. Haley purchased 3,000 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average price of $46.76 per share, for a total transaction of $140,280.00. Following the purchase, the director now directly owns 18,558 shares in the company, valued at $867,772.08. The trade was a 19.28 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.74% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sonoco Products

Hedge funds have recently added to or reduced their stakes in the stock. UMB Bank n.a. boosted its stake in Sonoco Products by 152.7% in the 1st quarter. UMB Bank n.a. now owns 950 shares of the industrial products company's stock worth $45,000 after purchasing an additional 574 shares in the last quarter. Colonial Trust Co SC lifted its stake in shares of Sonoco Products by 90.6% in the fourth quarter. Colonial Trust Co SC now owns 953 shares of the industrial products company's stock worth $47,000 after buying an additional 453 shares in the last quarter. Quarry LP grew its holdings in shares of Sonoco Products by 111.3% during the fourth quarter. Quarry LP now owns 970 shares of the industrial products company's stock valued at $47,000 after buying an additional 511 shares during the last quarter. Allworth Financial LP increased its position in shares of Sonoco Products by 152.0% during the first quarter. Allworth Financial LP now owns 1,071 shares of the industrial products company's stock valued at $50,000 after acquiring an additional 646 shares in the last quarter. Finally, True Wealth Design LLC raised its holdings in Sonoco Products by 650.7% in the 4th quarter. True Wealth Design LLC now owns 1,096 shares of the industrial products company's stock worth $54,000 after acquiring an additional 950 shares during the last quarter. 77.69% of the stock is owned by institutional investors.

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.