Sonoco Products (NYSE:SON) Sees Strong Trading Volume

Sonoco Products (NYSE:SONGet Free Report) saw an uptick in trading volume on Tuesday . 145,564 shares were traded during mid-day trading, a decline of 74% from the previous session’s volume of 554,218 shares.The stock last traded at $48.56 and had previously closed at $48.98.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SON. StockNews.com downgraded shares of Sonoco Products from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 3rd. Wells Fargo & Company lifted their target price on shares of Sonoco Products from $56.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Finally, Citigroup lowered their price objective on shares of Sonoco Products from $64.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Sonoco Products has an average rating of “Moderate Buy” and a consensus price target of $58.50.

Get Our Latest Report on Sonoco Products

Sonoco Products Price Performance

The company has a quick ratio of 0.83, a current ratio of 1.31 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $4.81 billion, a PE ratio of 12.36, a P/E/G ratio of 1.90 and a beta of 0.68. The stock’s 50-day moving average is $56.84 and its 200 day moving average is $56.91.

Sonoco Products (NYSE:SONGet Free Report) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.05 by $0.07. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.67 billion. Sonoco Products had a net margin of 5.86% and a return on equity of 20.79%. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.40 earnings per share. As a group, equities analysts predict that Sonoco Products will post 5.1 earnings per share for the current year.

Sonoco Products Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.25%. This is an increase from Sonoco Products’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Thursday, May 9th. Sonoco Products’s payout ratio is currently 52.53%.

Institutional Trading of Sonoco Products

Institutional investors and hedge funds have recently modified their holdings of the company. Rise Advisors LLC acquired a new stake in shares of Sonoco Products in the first quarter worth $26,000. Bruce G. Allen Investments LLC bought a new stake in Sonoco Products in the 4th quarter valued at $28,000. FinTrust Capital Advisors LLC boosted its holdings in Sonoco Products by 78.8% in the 1st quarter. FinTrust Capital Advisors LLC now owns 490 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 216 shares during the period. Burkett Financial Services LLC bought a new stake in Sonoco Products in the 4th quarter valued at $30,000. Finally, TFO Wealth Partners LLC lifted its holdings in shares of Sonoco Products by 12,183.3% during the 4th quarter. TFO Wealth Partners LLC now owns 737 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 731 shares during the period. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Sonoco Products Company Profile

(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.

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