Sonoco Products (NYSE:SON) Coverage Initiated by Analysts at UBS Group

UBS Group began coverage on shares of Sonoco Products (NYSE:SON - Get Free Report) in a report released on Wednesday, MarketBeat.com reports. The brokerage set a "neutral" rating and a $48.00 price target on the industrial products company's stock. UBS Group's target price suggests a potential upside of 6.36% from the stock's previous close.

A number of other research analysts have also commented on SON. Jefferies Financial Group assumed coverage on Sonoco Products in a report on Tuesday, April 22nd. They set a "buy" rating and a $62.00 price target for the company. Wells Fargo & Company upgraded Sonoco Products from an "underweight" rating to an "overweight" rating and raised their target price for the stock from $45.00 to $55.00 in a report on Friday, May 23rd. Raymond James cut their price objective on Sonoco Products from $54.00 to $50.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Wall Street Zen raised Sonoco Products from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Finally, Truist Financial reduced their price target on Sonoco Products from $60.00 to $54.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $56.25.

Sonoco Products Stock Up 0.1%

Shares of Sonoco Products stock traded up $0.06 on Wednesday, hitting $45.13. 570,911 shares of the company's stock traded hands, compared to its average volume of 782,582. The company has a quick ratio of 1.91, a current ratio of 0.79 and a debt-to-equity ratio of 2.18. The stock has a market cap of $4.45 billion, a P/E ratio of 27.35, a PEG ratio of 0.76 and a beta of 0.70. Sonoco Products has a 52-week low of $39.46 and a 52-week high of $59.62. The firm's 50-day moving average is $44.69 and its 200 day moving average is $47.11.

Sonoco Products (NYSE:SON - Get Free Report) last released its earnings results 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 analyst estimates of $2.02 billion. Sonoco Products had a return on equity of 20.81% and a net margin of 2.60%. Sonoco Products's revenue was up 30.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.12 earnings per share. Equities analysts anticipate that Sonoco Products will post 6.1 earnings per share for the current year.

Insider Activity at Sonoco Products

In related news, CEO R. Howard Coker purchased 20,000 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was purchased at an average price of $46.10 per share, with a total value of $922,000.00. Following the completion of the purchase, the chief executive officer now owns 482,365 shares of the company's stock, valued at approximately $22,237,026.50. The trade was a 4.33% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John R. Haley acquired 2,246 shares of Sonoco Products stock in a transaction that occurred on Friday, May 2nd. The stock was acquired at an average cost of $44.57 per share, with a total value of $100,104.22. Following the purchase, the director now directly owns 20,804 shares of the company's stock, valued at $927,234.28. This represents a 12.10% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 47,721 shares of company stock valued at $2,066,366. 0.74% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sonoco Products

Several hedge funds have recently added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Sonoco Products by 508.1% in the 1st 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. raised its stake 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 worth $45,000 after acquiring an additional 574 shares in the last quarter. Quarry LP increased its stake in Sonoco Products by 111.3% in the fourth 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 boosted its holdings 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 valued at $47,000 after acquiring an additional 453 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of Sonoco Products by 152.0% in 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. 77.69% of the stock is owned by hedge funds and other 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.