Citigroup Lowers Sonoco Products (NYSE:SON) Price Target to $63.00

Sonoco Products (NYSE:SON) had its price objective reduced by research analysts at Citigroup from $70.00 to $63.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Citigroup’s target price would suggest a potential upside of 30.18% from the stock’s previous close.

A number of other analysts have also weighed in on SON. Bank of America reiterated a “buy” rating on shares of Sonoco Products in a report on Wednesday. Wells Fargo & Company reduced their price target on Sonoco Products from $60.00 to $56.00 and set an “equal weight” rating on the stock in a report on Friday, March 20th. Truist Financial lowered their price target on Sonoco Products from $69.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Zacks Research upgraded Sonoco Products from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Finally, Robert W. Baird cut their price objective on Sonoco Products from $60.00 to $55.00 and set a “neutral” rating on the stock in a research report on Thursday. Five research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $60.44.

Sonoco Products Stock Down 1.6%

Shares of Sonoco Products stock opened at $48.40 on Thursday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.60 and a current ratio of 0.96. Sonoco Products has a 52-week low of $38.65 and a 52-week high of $58.44. The company’s 50 day moving average price is $54.25 and its 200-day moving average price is $47.41. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 4.74, a P/E/G ratio of 1.03 and a beta of 0.50.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Tuesday, April 21st. The industrial products company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.37). The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Sonoco Products had a net margin of 13.57% and a return on equity of 16.50%. The company’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.38 EPS. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. Equities research analysts forecast that Sonoco Products will post 5.83 EPS for the current year.

Insider Activity

In other Sonoco Products news, insider Ernest D. Haynes III sold 1,581 shares of the firm’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $56.39, for a total value of $89,152.59. Following the completion of the sale, the insider directly owned 9,377 shares in the company, valued at $528,769.03. This trade represents a 14.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Paul Joachimczyk acquired 8,058 shares of the business’s stock in a transaction on Friday, April 24th. The shares were purchased at an average cost of $49.64 per share, for a total transaction of $399,999.12. Following the completion of the transaction, the chief financial officer owned 28,558 shares in the company, valued at approximately $1,417,619.12. This represents a 39.31% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.98% of the company’s stock.

Institutional Investors Weigh In On Sonoco Products

Several hedge funds have recently made changes to their positions in the company. SBI Securities Co. Ltd. boosted its holdings in shares of Sonoco Products by 77.7% during the 4th quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company’s stock valued at $26,000 after buying an additional 258 shares in the last quarter. LRI Investments LLC bought a new position in shares of Sonoco Products in the 4th quarter worth about $29,000. Cornerstone Planning Group LLC purchased a new position in Sonoco Products during the 3rd quarter valued at about $29,000. True Wealth Design LLC lifted its position in Sonoco Products by 172.5% during the 3rd quarter. True Wealth Design LLC now owns 744 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 471 shares during the period. Finally, Ameriflex Group Inc. boosted its stake in Sonoco Products by 1,263.6% during the third quarter. Ameriflex Group Inc. now owns 900 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 834 shares in the last quarter. 77.69% of the stock is currently owned by institutional investors.

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.