Robert W. Baird Cuts Sonoco Products (NYSE:SON) Price Target to $55.00

Sonoco Products (NYSE:SON) had its price target trimmed by Robert W. Baird from $60.00 to $55.00 in a report issued on Thursday,Benzinga reports. The firm currently has a neutral rating on the industrial products company’s stock.

Several other equities analysts have also commented on the company. Citigroup increased their target price on Sonoco Products from $52.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Zacks Research raised Sonoco Products from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Truist Financial lowered their price objective 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. UBS Group dropped their price objective on Sonoco Products from $62.00 to $59.00 and set a “neutral” rating on the stock in a report on Friday, April 10th. Finally, Wells Fargo & Company decreased their target price on Sonoco Products from $60.00 to $56.00 and set an “equal weight” rating for the company in a research note on Friday, March 20th. Five 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, Sonoco Products currently has a consensus rating of “Hold” and a consensus price target of $60.44.

Sonoco Products Stock Performance

Shares of Sonoco Products stock opened at $48.40 on Thursday. The business has a 50-day simple moving average of $54.25 and a 200-day simple moving average of $47.45. 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 one year low of $38.65 and a one year high of $58.44. The company has a market cap of $4.78 billion, a PE ratio of 4.74, a P/E/G ratio of 1.03 and a beta of 0.50.

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

Sonoco Products Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 8th will be given a $0.54 dividend. This is a boost from Sonoco Products’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, May 8th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.5%. Sonoco Products’s payout ratio is currently 20.78%.

Insider Activity at Sonoco Products

In other news, CFO Paul Joachimczyk purchased 8,058 shares of the business’s stock in a transaction on Friday, April 24th. The shares were bought at an average price of $49.64 per share, with a total value of $399,999.12. Following the completion of the transaction, the chief financial officer directly owned 28,558 shares in the company, valued at approximately $1,417,619.12. This represents a 39.31% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ernest D. Haynes III sold 1,581 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $528,769.03. The trade was a 14.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.98% of the company’s stock.

Institutional Investors Weigh In On Sonoco Products

A number of institutional investors and hedge funds have recently made changes to their positions in SON. Fuller & Thaler Asset Management Inc. grew its holdings in shares of Sonoco Products by 477.8% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,901,950 shares of the industrial products company’s stock worth $257,561,000 after buying an additional 4,880,438 shares during the last quarter. State Street Corp raised its stake in Sonoco Products by 0.3% during the 2nd quarter. State Street Corp now owns 4,470,449 shares of the industrial products company’s stock valued at $194,733,000 after acquiring an additional 13,161 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Sonoco Products by 4.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,898,370 shares of the industrial products company’s stock worth $170,126,000 after acquiring an additional 176,949 shares during the period. Bank of America Corp DE lifted its position in Sonoco Products by 6.1% during the 2nd quarter. Bank of America Corp DE now owns 2,804,621 shares of the industrial products company’s stock worth $122,169,000 after acquiring an additional 162,262 shares during the period. Finally, Earnest Partners LLC grew its stake in shares of Sonoco Products by 1.2% in the 3rd quarter. Earnest Partners LLC now owns 2,678,122 shares of the industrial products company’s stock valued at $115,400,000 after purchasing an additional 31,932 shares during the last quarter. 77.69% of the stock is owned by hedge funds and other institutional investors.

About Sonoco Products

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.