Sonoco Products (NYSE:SON) Director Sells $191,800.00 in Stock

Sonoco Products (NYSE:SON) Director Robert R. Hill, Jr. sold 4,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $47.95, for a total transaction of $191,800.00. Following the transaction, the director now owns 16,065 shares in the company, valued at $770,316.75. The trade was a 19.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Sonoco Products Stock Down 2.8 %

NYSE:SON opened at $45.97 on Monday. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.36 and a quick ratio of 1.91. Sonoco Products has a 1-year low of $45.93 and a 1-year high of $61.73. The company has a 50-day moving average of $50.15 and a 200 day moving average of $51.71. The firm has a market cap of $4.52 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 2.14 and a beta of 0.68.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results 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. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Sonoco Products had a net margin of 4.38% and a return on equity of 19.92%. The company’s revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.46 EPS. As a group, research analysts anticipate that Sonoco Products will post 5.09 EPS for the current fiscal year.

Sonoco Products Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend was Friday, November 8th. Sonoco Products’s payout ratio is 71.48%.

Institutional Investors Weigh In On Sonoco Products

A number of institutional investors have recently added to or reduced their stakes in the stock. Kennebec Savings Bank bought a new stake in shares of Sonoco Products in the 3rd quarter valued at about $27,000. Capital Performance Advisors LLP purchased a new stake in Sonoco Products during the third quarter valued at approximately $33,000. Abich Financial Wealth Management LLC acquired a new stake in Sonoco Products in the second quarter valued at approximately $50,000. Wilmington Savings Fund Society FSB purchased a new position in Sonoco Products in the third quarter worth $71,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Sonoco Products by 821.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,879 shares of the industrial products company’s stock worth $95,000 after purchasing an additional 1,675 shares in the last quarter. Institutional investors own 77.69% of the company’s stock.

Wall Street Analysts Forecast Growth

SON has been the topic of a number of analyst reports. Robert W. Baird cut their target price on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Wells Fargo & Company reduced their target price on Sonoco Products from $52.00 to $50.00 and set an “underweight” rating on the stock in a research note on Monday, January 6th. Truist Financial boosted their target price on shares of Sonoco Products from $63.00 to $68.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Bank of America raised their price target on shares of Sonoco Products from $66.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Citigroup lowered their price objective on shares of Sonoco Products from $59.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Sonoco Products currently has a consensus rating of “Moderate Buy” and an average price target of $60.17.

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.