Sonoco Products (NYSE:SON) Sets New 1-Year Low at $49.78

Sonoco Products (NYSE:SON)’s share price reached a new 52-week low on Tuesday . The stock traded as low as $49.78 and last traded at $49.91, with a volume of 26126 shares changing hands. The stock had previously closed at $50.31.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Citigroup reduced their price target on shares of Sonoco Products from $66.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, April 4th. StockNews.com cut shares of Sonoco Products from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Finally, Wells Fargo & Company upped their price target on shares of Sonoco Products from $56.00 to $57.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $63.33.

Sonoco Products Stock Performance

The stock’s 50-day moving average price is $57.61 and its 200 day moving average price is $57.16. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.31 and a quick ratio of 0.83. The firm has a market cap of $4.87 billion, a P/E ratio of 12.52, a price-to-earnings-growth ratio of 1.91 and a beta of 0.68.

Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.07. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.67 billion. Sonoco Products had a net margin of 5.86% and a return on equity of 20.79%. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.40 earnings per share. As a group, equities analysts predict that Sonoco Products will post 5.1 EPS for the current year.

Sonoco Products Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend was Thursday, May 9th. This is a positive change from Sonoco Products’s previous quarterly dividend of $0.51. Sonoco Products’s payout ratio is currently 52.53%.

Institutional Trading of Sonoco Products

Institutional investors have recently made changes to their positions in the business. Rise Advisors LLC bought a new stake in shares of Sonoco Products in the first quarter worth $26,000. FinTrust Capital Advisors LLC raised its position in Sonoco Products by 78.8% during the first quarter. FinTrust Capital Advisors LLC now owns 490 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 216 shares in the last quarter. Bruce G. Allen Investments LLC bought a new stake in Sonoco Products during the fourth quarter worth $28,000. Burkett Financial Services LLC bought a new stake in Sonoco Products during the fourth quarter worth $30,000. Finally, TFO Wealth Partners LLC raised its position in Sonoco Products by 12,183.3% during the fourth quarter. TFO Wealth Partners LLC now owns 737 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 731 shares in the last quarter. Institutional investors own 77.69% of the company’s stock.

Sonoco Products Company Profile

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.