Truist Financial Has Lowered Expectations for Sonoco Products (NYSE:SON) Stock Price

Sonoco Products (NYSE:SON) had its target price lowered by research analysts at Truist Financial from $65.00 to $64.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price objective would indicate a potential upside of 13.95% from the company’s current price.

SON has been the subject of several other research reports. Bank of America upped their target price on shares of Sonoco Products from $65.00 to $69.00 and gave the stock a “buy” rating in a report on Tuesday. Argus raised Sonoco Products to a “hold” rating in a report on Monday, April 20th. Weiss Ratings upgraded Sonoco Products from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, June 29th. UBS Group dropped their price objective on Sonoco Products from $62.00 to $59.00 and set a “neutral” rating for the company in a research note on Friday, April 10th. Finally, Robert W. Baird decreased their target price on Sonoco Products from $60.00 to $55.00 and set a “neutral” rating on the stock in a research note on Thursday, April 23rd. Five research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Sonoco Products has an average rating of “Hold” and a consensus target price of $61.33.

Sonoco Products Price Performance

NYSE SON opened at $56.16 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.54 and a debt-to-equity ratio of 0.97. Sonoco Products has a 12 month low of $38.65 and a 12 month high of $58.44. The stock has a market cap of $5.55 billion, a price-to-earnings ratio of 5.51, a PEG ratio of 1.17 and a beta of 0.37. The company’s 50 day moving average is $51.42 and its two-hundred day moving average is $51.56.

Sonoco Products (NYSE:SON) last posted its quarterly earnings results on Tuesday, April 21st. The industrial products company reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.37). The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.88 billion. Sonoco Products had a return on equity of 16.50% and a net margin of 13.57%.The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.38 earnings per share. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. As a group, research analysts anticipate that Sonoco Products will post 5.79 earnings per share for the current year.

Insider Buying and Selling at Sonoco Products

In related news, insider James A. Harrell III purchased 6,753 shares of the firm’s stock in a transaction on Monday, April 27th. The shares were acquired at an average price of $50.37 per share, for a total transaction of $340,148.61. Following the purchase, the insider directly owned 10,070 shares in the company, valued at $507,225.90. This trade represents a 203.59% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Paul Joachimczyk acquired 8,058 shares of the company’s stock in a transaction on Friday, April 24th. The shares were bought at an average cost of $49.64 per share, with a total value of $399,999.12. Following the acquisition, the chief financial officer directly owned 28,558 shares in the company, valued at approximately $1,417,619.12. The trade was a 39.31% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.98% of the stock is owned by insiders.

Hedge Funds Weigh In On Sonoco Products

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SON. DAVENPORT & Co LLC increased its stake in Sonoco Products by 202.0% in the 4th quarter. DAVENPORT & Co LLC now owns 31,053 shares of the industrial products company’s stock worth $1,355,000 after acquiring an additional 20,771 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Sonoco Products by 10,238.5% during the 4th quarter. SG Americas Securities LLC now owns 728,138 shares of the industrial products company’s stock valued at $31,776,000 after acquiring an additional 721,095 shares during the last quarter. UBS Group AG grew its holdings in shares of Sonoco Products by 57.8% in the fourth quarter. UBS Group AG now owns 303,784 shares of the industrial products company’s stock valued at $13,257,000 after purchasing an additional 111,295 shares in the last quarter. LSV Asset Management grew its holdings in shares of Sonoco Products by 95.7% in the fourth quarter. LSV Asset Management now owns 1,563,390 shares of the industrial products company’s stock valued at $68,226,000 after purchasing an additional 764,590 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC bought a new stake in Sonoco Products in the fourth quarter worth $7,774,000. 77.69% of the stock is 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.