Sonoco Products (NYSE:SON) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of Sonoco Products (NYSE:SONGet Rating) from a hold rating to a buy rating in a research note published on Tuesday.

Other analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Sonoco Products from a hold rating to a buy rating and set a $59.00 target price on the stock in a research report on Monday, December 27th. BMO Capital Markets reaffirmed a hold rating and issued a $65.00 price objective on shares of Sonoco Products in a report on Wednesday, December 22nd. Seaport Research Partners raised shares of Sonoco Products from a neutral rating to a buy rating in a report on Tuesday, December 21st. Seaport Global Securities raised shares of Sonoco Products from a neutral rating to a buy rating and set a $66.00 price objective on the stock in a report on Tuesday, December 21st. Finally, Wells Fargo & Company upped their price objective on shares of Sonoco Products from $59.00 to $64.00 and gave the company an equal weight rating in a report on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $63.14.

NYSE SON opened at $64.59 on Tuesday. The company has a quick ratio of 0.72, a current ratio of 1.09 and a debt-to-equity ratio of 0.65. The firm has a market cap of $6.29 billion, a PE ratio of -75.99, a price-to-earnings-growth ratio of 2.57 and a beta of 0.76. The company has a 50 day moving average price of $59.57 and a 200 day moving average price of $59.23. Sonoco Products has a 52 week low of $54.34 and a 52 week high of $69.83.

Sonoco Products (NYSE:SONGet Rating) last released its earnings results on Thursday, February 10th. The industrial products company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.01. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.40 billion. Sonoco Products had a negative net margin of 1.53% and a positive return on equity of 19.11%. Sonoco Products’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.82 EPS. On average, equities research analysts anticipate that Sonoco Products will post 4.96 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 10th. Investors of record on Wednesday, February 23rd were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend was Tuesday, February 22nd. Sonoco Products’s dividend payout ratio (DPR) is presently -211.76%.

In other news, VP Harold G. Cummings III purchased 2,200 shares of the stock in a transaction that occurred on Tuesday, February 15th. The shares were purchased at an average cost of $56.45 per share, with a total value of $124,190.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.47% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Fifth Third Bancorp raised its position in Sonoco Products by 24.0% during the first quarter. Fifth Third Bancorp now owns 7,623 shares of the industrial products company’s stock worth $477,000 after acquiring an additional 1,477 shares during the period. TPG Financial Advisors LLC raised its position in shares of Sonoco Products by 12.9% in the first quarter. TPG Financial Advisors LLC now owns 5,913 shares of the industrial products company’s stock valued at $370,000 after buying an additional 676 shares during the last quarter. Gateway Investment Advisers LLC raised its position in shares of Sonoco Products by 1.0% in the first quarter. Gateway Investment Advisers LLC now owns 145,122 shares of the industrial products company’s stock valued at $9,079,000 after buying an additional 1,506 shares during the last quarter. My Legacy Advisors LLC acquired a new stake in shares of Sonoco Products in the first quarter valued at about $619,000. Finally, Diversified Trust Co acquired a new stake in shares of Sonoco Products in the first quarter valued at about $227,000. Institutional investors own 77.25% of the company’s stock.

About Sonoco Products (Get Rating)

Sonoco Products Company, together with its subsidiaries, manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through two segments: Consumer Packaging and Industrial Paper Packaging. The Consumer Packaging segment round and shaped rigid paper containers; metal and peelable membrane ends and closures; thermoformed plastic trays and containers; printed flexible packaging; and global brand artwork management.

Further Reading

Analyst Recommendations for Sonoco Products (NYSE:SON)

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