Sonoco Products Company (NYSE:SON) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Sonoco Products Company (NYSE:SON) have been given an average rating of “Moderate Buy” by the eight ratings firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $57.6250.

SON has been the subject of a number of recent research reports. Raymond James Financial lifted their price objective on shares of Sonoco Products from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. UBS Group lifted their price objective on shares of Sonoco Products from $48.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Truist Financial lifted their price objective on shares of Sonoco Products from $53.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Wells Fargo & Company raised shares of Sonoco Products from an “underweight” rating to an “overweight” rating and lifted their price target for the stock from $45.00 to $55.00 in a research note on Friday, May 23rd. Finally, Wall Street Zen raised shares of Sonoco Products from a “sell” rating to a “hold” rating in a research note on Wednesday, May 7th.

Sonoco Products Stock Performance

Shares of NYSE:SON opened at $44.86 on Wednesday. Sonoco Products has a 52 week low of $39.46 and a 52 week high of $56.77. The stock has a market capitalization of $4.42 billion, a P/E ratio of 8.04, a PEG ratio of 0.60 and a beta of 0.69. The firm has a fifty day simple moving average of $45.53 and a two-hundred day simple moving average of $45.91. The company has a quick ratio of 0.72, a current ratio of 1.25 and a debt-to-equity ratio of 1.53.

Sonoco Products (NYSE:SON) last issued its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.07). Sonoco Products had a return on equity of 20.46% and a net margin of 8.35%. The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same period in the previous year, the business earned $1.28 earnings per share. The business’s quarterly revenue was up 17.7% on a year-over-year basis. On average, analysts expect that Sonoco Products will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Friday, August 8th. Sonoco Products’s payout ratio is 37.99%.

Institutional Investors Weigh In On Sonoco Products

Large investors have recently added to or reduced their stakes in the stock. ST Germain D J Co. Inc. purchased a new stake in Sonoco Products in the 2nd quarter valued at about $26,000. Whittier Trust Co. of Nevada Inc. boosted its position in 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. boosted its position in Sonoco Products by 152.7% in the 1st quarter. UMB Bank n.a. now owns 950 shares of the industrial products company’s stock valued at $45,000 after buying an additional 574 shares during the period. Colonial Trust Co SC boosted its position in Sonoco Products by 90.6% in the 4th quarter. Colonial Trust Co SC now owns 953 shares of the industrial products company’s stock valued at $47,000 after buying an additional 453 shares during the period. Finally, Quarry LP boosted its position in Sonoco Products by 111.3% in the 4th quarter. Quarry LP now owns 970 shares of the industrial products company’s stock valued at $47,000 after buying an additional 511 shares during the period. 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.