Sonoco Products Company (NYSE:SON) Receives $61.89 Consensus Target Price from Analysts

Sonoco Products Company (NYSE:SON) has received an average rating of “Hold” from the eleven analysts that are presently covering the stock, MarketBeat reports. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $61.7778.

A number of brokerages have recently issued reports on SON. Deutsche Bank Aktiengesellschaft began coverage on shares of Sonoco Products in a research note on Wednesday, April 1st. They set a “buy” rating and a $63.00 target price for the company. Robert W. Baird boosted their target price on shares of Sonoco Products from $48.00 to $60.00 and gave the company a “neutral” rating in a research note on Wednesday, February 18th. Truist Financial lowered their target price on shares of Sonoco Products from $69.00 to $68.00 and set a “buy” rating for the company in a research note on Wednesday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Sonoco Products in a research note on Wednesday, January 21st. Finally, UBS Group dropped their target price on shares of Sonoco Products from $62.00 to $59.00 and set a “neutral” rating on the stock in a report on Friday, April 10th.

Sonoco Products Stock Up 0.5%

Shares of SON opened at $55.15 on Monday. The firm has a market capitalization of $5.45 billion, a P/E ratio of 5.48, a P/E/G ratio of 1.09 and a beta of 0.50. Sonoco Products has a 12-month low of $38.65 and a 12-month high of $58.44. The company has a current ratio of 1.05, a quick ratio of 0.60 and a debt-to-equity ratio of 1.04. The firm has a fifty day moving average price of $53.99 and a 200-day moving average price of $46.95.

Sonoco Products (NYSE:SON) last issued its earnings results on Tuesday, February 17th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.04. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.76 billion. Sonoco Products had a net margin of 13.34% and a return on equity of 18.52%. The business’s revenue was up 29.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.17 earnings per share. Equities research analysts expect that Sonoco Products will post 6.1 earnings per share for the current year.

Sonoco Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 25th were paid a dividend of $0.53 per share. The ex-dividend date was Wednesday, February 25th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.8%. Sonoco Products’s dividend payout ratio (DPR) is currently 21.05%.

Insider Transactions at Sonoco Products

In related news, insider Ernest D. Haynes III sold 1,581 shares of Sonoco Products stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $56.39, for a total transaction of $89,152.59. Following the transaction, the insider directly owned 9,377 shares of the company’s stock, 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 through this link. 0.98% of the stock is currently owned by insiders.

Institutional Trading of Sonoco Products

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Powell Investment Advisors LLC increased its holdings in shares of Sonoco Products by 1.0% in the 4th quarter. Powell Investment Advisors LLC now owns 20,718 shares of the industrial products company’s stock valued at $904,000 after acquiring an additional 203 shares during the period. IFP Advisors Inc lifted its stake in shares of Sonoco Products by 8.6% during the 4th quarter. IFP Advisors Inc now owns 2,996 shares of the industrial products company’s stock worth $131,000 after purchasing an additional 237 shares during the last quarter. SBI Securities Co. Ltd. boosted its position in Sonoco Products by 77.7% during the fourth quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 258 shares in the last quarter. Hsbc Holdings PLC grew its stake in Sonoco Products by 5.2% in the fourth quarter. Hsbc Holdings PLC now owns 6,073 shares of the industrial products company’s stock valued at $265,000 after purchasing an additional 299 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its holdings in Sonoco Products by 5.3% in the third quarter. CIBC Private Wealth Group LLC now owns 6,006 shares of the industrial products company’s stock worth $259,000 after purchasing an additional 304 shares in the last quarter. Institutional investors own 77.69% of the company’s stock.

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.