Sonoco Products (NYSE:SON) Receives $58.00 Consensus Price Target from Analysts

Sonoco Products (NYSE:SON) has been given a consensus recommendation of “Hold” by the four ratings firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $58.00.

Several analysts have weighed in on the company. Raymond James started coverage on Sonoco Products in a report on Friday, July 19th. They set an “outperform” rating and a $62.00 price objective for the company. Citigroup raised their price objective on shares of Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Robert W. Baird lowered their target price on shares of Sonoco Products from $58.00 to $55.00 and set a “neutral” rating for the company in a report on Monday. Finally, Wells Fargo & Company cut Sonoco Products from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $54.00 to $52.00 in a research note on Wednesday, August 21st.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. FinTrust Capital Advisors LLC lifted its stake 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 acquiring an additional 216 shares in the last quarter. Kennebec Savings Bank bought a new stake in shares of Sonoco Products in the third quarter worth $27,000. Capital Performance Advisors LLP acquired a new position in Sonoco Products during the third quarter worth $33,000. Allspring Global Investments Holdings LLC bought a new position in Sonoco Products in the first quarter valued at $50,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in Sonoco Products in the 2nd quarter valued at $50,000. 77.69% of the stock is owned by institutional investors and hedge funds.

Sonoco Products Stock Up 2.2 %

SON opened at $51.36 on Monday. Sonoco Products has a twelve month low of $48.22 and a twelve month high of $61.73. The firm has a market cap of $5.05 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 2.09 and a beta of 0.69. The firm’s 50-day simple moving average is $53.90 and its 200-day simple moving average is $54.46. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.91 and a current ratio of 2.36.

Sonoco Products (NYSE:SON) last announced its earnings results on Thursday, October 31st. The industrial products company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.45 by $0.04. Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the prior year, the business earned $1.46 earnings per share. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. Equities research analysts anticipate that Sonoco Products will post 5.08 EPS for the current fiscal year.

Sonoco Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.05%. Sonoco Products’s dividend payout ratio (DPR) is currently 71.48%.

Sonoco Products Company Profile

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.