Brokerages Set Sonoco Products Company (NYSE:SON) Price Target at $54.50

Shares of Sonoco Products Company (NYSE:SON) have earned a consensus recommendation of “Hold” from the nine ratings firms that are covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $54.50.

Several analysts have issued reports on SON shares. Jefferies Financial Group dropped their price objective on Sonoco Products from $61.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday. Weiss Ratings restated a “hold (c-)” rating on shares of Sonoco Products in a research note on Friday. UBS Group dropped their price objective on Sonoco Products from $50.00 to $46.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. Citigroup dropped their price objective on Sonoco Products from $56.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, September 29th. Finally, Truist Financial dropped their price objective on Sonoco Products from $58.00 to $57.00 and set a “buy” rating on the stock in a research note on Monday, October 13th.

Hedge Funds Weigh In On Sonoco Products

Institutional investors and hedge funds have recently made changes to their positions in the company. ST Germain D J Co. Inc. acquired a new position in shares of Sonoco Products in the second quarter valued at approximately $26,000. TD Waterhouse Canada Inc. acquired a new position in shares of Sonoco Products in the second quarter valued at approximately $30,000. True Wealth Design LLC grew its position in shares of Sonoco Products by 172.5% in the third quarter. True Wealth Design LLC now owns 744 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 471 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of Sonoco Products by 508.1% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 900 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 752 shares during the last quarter. Finally, Allworth Financial LP grew its position in shares of Sonoco Products by 152.0% in the first quarter. Allworth Financial LP now owns 1,071 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 646 shares during the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.

Sonoco Products Stock Performance

SON opened at $40.41 on Monday. Sonoco Products has a 52-week low of $39.13 and a 52-week high of $53.69. The firm has a market capitalization of $3.99 billion, a PE ratio of 6.41, a PEG ratio of 0.70 and a beta of 0.68. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.72 and a current ratio of 0.92. The business’s 50-day simple moving average is $44.36 and its 200 day simple moving average is $44.92.

Sonoco Products (NYSE:SON) last released its earnings results on Wednesday, June 22nd. The industrial products company reported $1.00 earnings per share (EPS) for the quarter. The business had revenue of $1.35 billion for the quarter. Sonoco Products had a return on equity of 20.49% and a net margin of 8.82%. Sonoco Products has set its Q2 2022 guidance at $1.60-$1.70 EPS. As a group, sell-side analysts expect that Sonoco Products will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th will be given a $0.53 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $2.12 annualized dividend and a dividend yield of 5.2%. Sonoco Products’s dividend payout ratio is presently 37.99%.

About Sonoco Products

Sonoco Products Company, together with its subsidiaries, designs, develops, manufactures, and sells various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates Consumer Packaging and Industrial Paper Packaging segments. The Consumer Packaging segment offers round and shaped rigid paper, steel, and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays and enclosures; and high-barrier flexible packaging products.