Sonoco Products (NYSE:SON) Sets New 1-Year High on Earnings Beat

Sonoco Products Company (NYSE:SON) reached a new 52-week high during mid-day trading on Tuesday following a better than expected earnings announcement. The company traded as high as $57.27 and last traded at $57.1750, with a volume of 375892 shares changing hands. The stock had previously closed at $51.67.

The industrial products company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.04. Sonoco Products had a net margin of 8.82% and a return on equity of 20.49%. The business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the firm posted $1.17 EPS. The company’s revenue for the quarter was up 29.7% on a year-over-year basis. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS.

Sonoco Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 25th will be issued a dividend of $0.53 per share. The ex-dividend date is Wednesday, February 25th. This represents a $2.12 dividend on an annualized basis and a yield of 3.7%. Sonoco Products’s dividend payout ratio is currently 33.65%.

Wall Street Analysts Forecast Growth

SON has been the topic of a number of recent research reports. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $47.00 price objective (down previously from $52.00) on shares of Sonoco Products in a research report on Tuesday, January 6th. UBS Group raised their price target on shares of Sonoco Products from $44.00 to $48.00 and gave the company a “neutral” rating in a report on Monday, January 12th. Jefferies Financial Group cut their price objective on shares of Sonoco Products from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Bank of America raised shares of Sonoco Products from a “neutral” rating to a “buy” rating and increased their target price for the company from $56.00 to $60.00 in a research report on Monday, January 5th. Finally, Truist Financial lifted their price target on shares of Sonoco Products from $53.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Sonoco Products currently has an average rating of “Hold” and an average price target of $54.86.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Savant Capital LLC boosted its position in Sonoco Products by 415.0% during the third quarter. Savant Capital LLC now owns 37,875 shares of the industrial products company’s stock worth $1,632,000 after purchasing an additional 30,520 shares in the last quarter. Allen Wealth Management LLC acquired a new position in shares of Sonoco Products during the 3rd quarter worth approximately $1,489,000. AlphaQuest LLC lifted its position in shares of Sonoco Products by 1,237.0% during the 3rd quarter. AlphaQuest LLC now owns 24,079 shares of the industrial products company’s stock valued at $1,038,000 after buying an additional 22,278 shares in the last quarter. Voya Investment Management LLC grew its stake in Sonoco Products by 329.3% in the 3rd quarter. Voya Investment Management LLC now owns 50,390 shares of the industrial products company’s stock valued at $2,171,000 after acquiring an additional 38,653 shares during the period. Finally, Pacer Advisors Inc. purchased a new stake in Sonoco Products in the 3rd quarter worth $560,000. 77.69% of the stock is owned by institutional investors and hedge funds.

Sonoco Products Price Performance

The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $5.59 billion, a price-to-earnings ratio of 9.00, a PEG ratio of 0.80 and a beta of 0.54. The stock’s 50-day simple moving average is $47.01 and its two-hundred day simple moving average is $44.56.

Sonoco Products Company Profile

Sonoco Products Company (NYSE: SON) is a global provider of diversified packaging solutions, serving a wide range of consumer, industrial and retail markets. The company offers a broad portfolio that includes rigid paper and plastic containers, flexible packaging, industrial core and tube products, thermoformed plastics, retail point-of-purchase displays, and packaging supply chain services. Through its solutions, Sonoco helps customers in food and beverage, personal care, chemicals, healthcare, home and garden, and electronics industries address their packaging needs, improve product shelf appeal, and optimize logistics efficiency.

With operations in more than 30 countries across North America, South America, Europe, Asia and Africa, Sonoco leverages a global network of manufacturing facilities, recycling centers and distribution channels to meet the demands of multinational and regional customers.