Sonoco Products (NYSE:SON) Receives Average Rating of “Hold” from Brokerages

Shares of Sonoco Products (NYSE:SON) have received a consensus recommendation of “Hold” from the five brokerages that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $59.00.

A number of research firms recently issued reports on SON. Truist Financial assumed coverage on shares of Sonoco Products in a report on Tuesday. They set a “buy” rating and a $63.00 price objective for the company. Citigroup raised their price target on shares of Sonoco Products from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company cut shares of Sonoco Products from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $54.00 to $52.00 in a report on Wednesday, August 21st. Finally, Robert W. Baird reduced their price objective on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating for the company in a report on Monday, November 4th.

Sonoco Products Price Performance

Shares of NYSE SON opened at $51.31 on Friday. The company has a market capitalization of $5.04 billion, a PE ratio of 17.63, a PEG ratio of 2.14 and a beta of 0.69. The company has a quick ratio of 1.91, a current ratio of 2.36 and a debt-to-equity ratio of 1.74. The stock’s 50 day moving average price is $52.49 and its 200-day moving average price is $53.77. Sonoco Products has a twelve month low of $48.22 and a twelve month high of $61.73.

Sonoco Products (NYSE:SON) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.04. Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the firm earned $1.46 earnings per share. The business’s revenue was down 2.0% on a year-over-year basis. On average, equities analysts anticipate that Sonoco Products will post 5.1 EPS for the current year.

Sonoco Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.05%. Sonoco Products’s payout ratio is 71.48%.

Hedge Funds Weigh In On Sonoco Products

A number of large investors have recently made changes to their positions in SON. Kennebec Savings Bank bought a new stake in shares of Sonoco Products during the 3rd quarter valued at $27,000. Capital Performance Advisors LLP purchased a new position in Sonoco Products during the 3rd quarter valued at about $33,000. Abich Financial Wealth Management LLC bought a new stake in shares of Sonoco Products during the second quarter valued at about $50,000. Gradient Investments LLC purchased a new stake in shares of Sonoco Products in the second quarter worth about $58,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Sonoco Products in the third quarter valued at approximately $71,000. 77.69% of the stock is owned by institutional investors.

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.