Sonoco Products (NYSE:SON) Price Target Cut to $63.00 by Analysts at Citigroup

Key Points

• Citigroup cut its price target on Sonoco from $70 to $63 while keeping a "buy" rating, implying roughly a 25% upside from the prior close.
• Sonoco missed Q1 expectations, reporting $1.20 EPS vs. $1.57 expected and $1.68B revenue vs. $1.88B expected, and set FY2026 guidance of 5.80–6.20 EPS (analysts average 5.92).
• The street consensus is a "Hold" with an average target of $60.44; several brokers have trimmed targets while institutional investors (notably UBS and Goldman) increased stakes and an insider sold shares.

Sonoco Products (NYSE:SON - Get Free Report) had its price target cut by analysts at Citigroup from $70.00 to $63.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the industrial products company's stock. Citigroup's price objective suggests a potential upside of 25.29% from the stock's previous close.

A number of other research firms also recently commented on SON. Truist Financial cut their target price on shares of Sonoco Products from $69.00 to $68.00 and set a "buy" rating for the company in a research report on Wednesday, April 15th. Wall Street Zen raised shares of Sonoco Products from a "hold" rating to a "buy" rating in a research report on Saturday, February 7th. Wells Fargo & Company cut their target price on shares of Sonoco Products from $60.00 to $56.00 and set an "equal weight" rating for the company in a research report on Friday, March 20th. Raymond James Financial reissued a "market perform" rating on shares of Sonoco Products in a research report on Friday, March 6th. Finally, UBS Group cut their price objective on shares of Sonoco Products from $62.00 to $59.00 and set a "neutral" rating for the company in a research report on Friday, April 10th. Five investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $60.44.

Sonoco Products Stock Performance

NYSE:SON traded up $2.71 during trading hours on Thursday, reaching $50.29. The company had a trading volume of 1,655,114 shares, compared to its average volume of 1,077,795. The company has a current ratio of 1.05, a quick ratio of 0.60 and a debt-to-equity ratio of 1.04. Sonoco Products has a 52 week low of $38.65 and a 52 week high of $58.44. The firm has a market cap of $4.97 billion, a price-to-earnings ratio of 4.93, a PEG ratio of 1.14 and a beta of 0.50. The firm's 50 day moving average price is $54.36 and its 200-day moving average price is $47.36.

Sonoco Products (NYSE:SON - Get Free Report) last posted its earnings results on Tuesday, April 21st. The industrial products company reported $1.20 EPS for the quarter, missing analysts' consensus estimates of $1.57 by ($0.37). Sonoco Products had a return on equity of 16.72% and a net margin of 13.57%.The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the firm posted $1.38 EPS. The company's revenue for the quarter was down 1.9% on a year-over-year basis. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. On average, analysts forecast that Sonoco Products will post 5.92 EPS for the current year.

Insiders Place Their Bets

In related news, insider Ernest D. Haynes III sold 1,581 shares of the company's stock in a transaction 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 approximately $528,769.03. This represents a 14.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.98% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SON. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Sonoco Products by 44.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,093 shares of the industrial products company's stock worth $2,319,000 after buying an additional 15,079 shares during the period. Goldman Sachs Group Inc. lifted its stake in Sonoco Products by 80.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 206,493 shares of the industrial products company's stock worth $9,755,000 after purchasing an additional 92,286 shares in the last quarter. Empowered Funds LLC lifted its stake in Sonoco Products by 14.1% in the 1st quarter. Empowered Funds LLC now owns 11,058 shares of the industrial products company's stock worth $522,000 after purchasing an additional 1,364 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Sonoco Products by 87.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 545,179 shares of the industrial products company's stock worth $25,754,000 after purchasing an additional 255,055 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Sonoco Products by 315.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,587 shares of the industrial products company's stock worth $69,000 after purchasing an additional 1,205 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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