Sonoco Products (NYSE:SON - Get Free Report) had its price target raised by Wells Fargo & Company from $50.00 to $52.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the industrial products company's stock. Wells Fargo & Company's price objective points to a potential upside of 26.38% from the company's previous close.
Several other research firms also recently weighed in on SON. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Sonoco Products in a report on Wednesday, October 8th. Bank of America reissued a "neutral" rating and issued a $56.00 price target on shares of Sonoco Products in a report on Thursday, October 9th. Truist Financial cut their price target on shares of Sonoco Products from $58.00 to $57.00 and set a "buy" rating for the company in a report on Monday, October 13th. Citigroup cut their price target on shares of Sonoco Products from $56.00 to $55.00 and set a "buy" rating for the company in a report on Monday, September 29th. Finally, Raymond James Financial reissued a "market perform" rating on shares of Sonoco Products in a report on Friday, October 17th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Sonoco Products presently has a consensus rating of "Hold" and an average price target of $54.75.
Check Out Our Latest Research Report on Sonoco Products
Sonoco Products Stock Performance
SON stock traded down $0.29 during mid-day trading on Friday, reaching $41.15. The company had a trading volume of 184,318 shares, compared to its average volume of 915,706. The company has a quick ratio of 0.72, a current ratio of 1.25 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $4.06 billion, a P/E ratio of 6.53, a P/E/G ratio of 0.68 and a beta of 0.68. Sonoco Products has a one year low of $39.13 and a one year high of $53.69. The stock's 50-day simple moving average is $44.48 and its two-hundred day simple moving average is $44.92.
Sonoco Products (NYSE:SON - Get Free Report) last posted its earnings results on Wednesday, June 22nd. The industrial products company reported $1.00 earnings per share (EPS) for the quarter. The company had revenue of $1.35 billion for the quarter. Sonoco Products had a return on equity of 21.74% and a net margin of 8.82%. Sonoco Products has set its Q2 2022 guidance at $1.60-$1.70 EPS. Research analysts anticipate that Sonoco Products will post 6.1 EPS for the current year.
Hedge Funds Weigh In On Sonoco Products
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in Sonoco Products by 0.3% during the second quarter. State Street Corp now owns 4,470,449 shares of the industrial products company's stock valued at $194,733,000 after purchasing an additional 13,161 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Sonoco Products by 14.4% in the first quarter. Dimensional Fund Advisors LP now owns 3,591,263 shares of the industrial products company's stock valued at $169,646,000 after acquiring an additional 450,792 shares during the period. Nordea Investment Management AB boosted its position in shares of Sonoco Products by 70.1% in the second quarter. Nordea Investment Management AB now owns 2,827,569 shares of the industrial products company's stock valued at $122,914,000 after acquiring an additional 1,164,849 shares during the period. Bank of America Corp DE boosted its position in shares of Sonoco Products by 6.1% in the second quarter. Bank of America Corp DE now owns 2,804,621 shares of the industrial products company's stock valued at $122,169,000 after acquiring an additional 162,262 shares during the period. Finally, Earnest Partners LLC boosted its position in shares of Sonoco Products by 2.3% in the first quarter. Earnest Partners LLC now owns 2,655,347 shares of the industrial products company's stock valued at $125,439,000 after acquiring an additional 60,746 shares during the period. Institutional investors and hedge funds own 77.69% of the company's stock.
About Sonoco Products
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Sonoco Products, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sonoco Products wasn't on the list.
While Sonoco Products currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Fall 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
