Sonoco Products (NYSE:SON) Hits New 1-Year High Following Analyst Upgrade

Sonoco Products Company (NYSE:SON) shares hit a new 52-week high during trading on Friday after Truist Financial raised their price target on the stock from $64.00 to $68.00. Truist Financial currently has a buy rating on the stock. Sonoco Products traded as high as $58.54 and last traded at $58.2750, with a volume of 819376 shares. The stock had previously closed at $56.32.

Several other equities analysts have also recently issued reports on the company. Bank of America raised their price objective on Sonoco Products from $65.00 to $69.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Sonoco Products in a report on Wednesday, April 1st. They set a “buy” rating and a $63.00 target price on the stock. Robert W. Baird reduced their price target on shares of Sonoco Products from $60.00 to $55.00 and set a “neutral” rating on the stock in a research report on Thursday, April 23rd. Argus raised shares of Sonoco Products to a “hold” rating in a research report on Monday, April 20th. Finally, Weiss Ratings lowered shares of Sonoco Products from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday. Five equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $61.78.

Insider Buying and Selling

In related news, insider James A. Harrell III bought 6,753 shares of the company’s stock in a transaction on Monday, April 27th. The shares were purchased at an average cost of $50.37 per share, with a total value of $340,148.61. Following the completion of the transaction, the insider directly owned 10,070 shares of the company’s stock, valued at approximately $507,225.90. This represents a 203.59% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.98% of the stock is currently owned by insiders.

Institutional Trading of Sonoco Products

Hedge funds have recently bought and sold shares of the company. Wasatch Advisors LP boosted its stake in Sonoco Products by 15.9% during the 2nd quarter. Wasatch Advisors LP now owns 81,167 shares of the industrial products company’s stock valued at $4,574,000 after purchasing an additional 11,130 shares during the period. Evanson Financial LLC acquired a new position in shares of Sonoco Products during the second quarter worth approximately $165,000. Hilltop National Bank grew its holdings in Sonoco Products by 49.7% in the 2nd quarter. Hilltop National Bank now owns 1,777 shares of the industrial products company’s stock worth $100,000 after buying an additional 590 shares in the last quarter. Access Investment Management LLC increased its position in Sonoco Products by 11.5% in the 1st quarter. Access Investment Management LLC now owns 289,855 shares of the industrial products company’s stock valued at $15,678,000 after acquiring an additional 29,980 shares during the period. Finally, Bank of America Corp DE raised its stake in Sonoco Products by 19.0% during the 1st quarter. Bank of America Corp DE now owns 3,312,638 shares of the industrial products company’s stock valued at $179,181,000 after acquiring an additional 528,292 shares in the last quarter. 77.69% of the stock is currently owned by institutional investors.

Sonoco Products Stock Performance

The company has a market cap of $5.76 billion, a P/E ratio of 9.26, a PEG ratio of 1.22 and a beta of 0.37. The company has a quick ratio of 0.54, a current ratio of 0.99 and a debt-to-equity ratio of 0.97. The company has a 50 day moving average price of $52.16 and a 200-day moving average price of $52.01.

Sonoco Products (NYSE:SON) last issued its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.04. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Sonoco Products had a net margin of 8.41% and a return on equity of 16.50%. The company’s revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.37 earnings per share. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. Equities analysts expect that Sonoco Products Company will post 5.82 EPS for the current fiscal year.

Sonoco Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 10th will be issued a $0.54 dividend. The ex-dividend date is Monday, August 10th. This represents a $2.16 annualized dividend and a dividend yield of 3.7%. Sonoco Products’s dividend payout ratio (DPR) is 21.18%.

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.