Sonoco Products (NYSE:SON) Price Target Raised to $69.00

Key Points

• Bank of America raised its price target on Sonoco Products from $65 to $69 and maintained a buy rating, implying about 29.9% upside from the prior close.
• Analyst sentiment remains mixed overall: Sonoco has an average Hold rating with a consensus price target of $61.44, despite recent target increases from Citigroup and others.
• Sonoco shares fell to $53.12 in Tuesday trading, and the company recently reported missed earnings and revenue expectations for its last quarter, though management gave FY 2026 EPS guidance of $5.80 to $6.20.

Sonoco Products (NYSE:SON - Get Free Report) had its price target raised by analysts at Bank of America from $65.00 to $69.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the industrial products company's stock. Bank of America's target price would indicate a potential upside of 29.89% from the stock's previous close.

SON has been the subject of several other research reports. UBS Group dropped their price objective on shares of Sonoco Products from $62.00 to $59.00 and set a "neutral" rating for the company in a report on Friday, April 10th. Wells Fargo & Company cut their price target on Sonoco Products from $60.00 to $56.00 and set an "equal weight" rating for the company in a report on Friday, March 20th. Wall Street Zen downgraded Sonoco Products from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Citigroup boosted their price target on shares of Sonoco Products from $63.00 to $66.00 and gave the stock a "buy" rating in a research report on Thursday, July 9th. Finally, Argus raised shares of Sonoco Products to a "hold" rating in a research note on Monday, April 20th. Five analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $61.44.

Sonoco Products Price Performance

Shares of NYSE:SON traded down $0.53 during trading on Tuesday, hitting $53.12. 236,705 shares of the company's stock were exchanged, compared to its average volume of 1,176,609. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.96 and a quick ratio of 0.54. Sonoco Products has a 52-week low of $38.65 and a 52-week high of $58.44. The business's 50-day simple moving average is $51.25 and its 200 day simple moving average is $51.32. The company has a market cap of $5.25 billion, a price-to-earnings ratio of 5.21, a PEG ratio of 1.17 and a beta of 0.37.

Sonoco Products (NYSE:SON - Get Free Report) last posted its quarterly 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 16.50% and a net margin of 13.57%.The business had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.88 billion. During the same period in the prior year, the firm posted $1.38 earnings per share. The firm'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. As a group, equities analysts predict that Sonoco Products will post 5.81 EPS for the current year.

Insider Buying and Selling at Sonoco Products

In related news, insider James A. Harrell III purchased 6,753 shares of the stock in a transaction that occurred on Monday, April 27th. The stock was bought at an average cost of $50.37 per share, for a total transaction of $340,148.61. Following the completion of the transaction, the insider directly owned 10,070 shares in the company, valued at $507,225.90. This represents a 203.59% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Paul Joachimczyk acquired 8,058 shares of the company's stock in a transaction on Friday, April 24th. The shares were purchased at an average cost of $49.64 per share, with a total value of $399,999.12. Following the completion of the purchase, the chief financial officer directly owned 28,558 shares of the company's stock, valued at $1,417,619.12. This trade represents a 39.31% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.98% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SON. DAVENPORT & Co LLC boosted its stake in Sonoco Products by 202.0% during the fourth quarter. DAVENPORT & Co LLC now owns 31,053 shares of the industrial products company's stock worth $1,355,000 after buying an additional 20,771 shares during the period. SG Americas Securities LLC lifted its position in shares of Sonoco Products by 10,238.5% in the fourth quarter. SG Americas Securities LLC now owns 728,138 shares of the industrial products company's stock valued at $31,776,000 after acquiring an additional 721,095 shares in the last quarter. LSV Asset Management boosted its stake in shares of Sonoco Products by 95.7% during the fourth quarter. LSV Asset Management now owns 1,563,390 shares of the industrial products company's stock valued at $68,226,000 after acquiring an additional 764,590 shares during the last quarter. UBS Group AG lifted its holdings in Sonoco Products by 57.8% in the 4th quarter. UBS Group AG now owns 303,784 shares of the industrial products company's stock valued at $13,257,000 after purchasing an additional 111,295 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC acquired a new stake in shares of Sonoco Products during the 4th quarter worth about $7,774,000. Institutional investors own 77.69% of the company's stock.

About Sonoco Products

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.