Sonoco Products (NYSE:SON) – Equities researchers at Seaport Global Securities reduced their Q2 2021 earnings estimates for shares of Sonoco Products in a research report issued on Monday, April 5th. Seaport Global Securities analyst S. Tiano now forecasts that the industrial products company will earn $0.90 per share for the quarter, down from their prior estimate of $0.92. Seaport Global Securities also issued estimates for Sonoco Products’ Q3 2021 earnings at $0.96 EPS and Q4 2021 earnings at $0.89 EPS.

SON has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of Sonoco Products from $52.00 to $61.00 and gave the stock a “hold” rating in a research report on Wednesday, January 20th. BMO Capital Markets lowered shares of Sonoco Products from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $68.00 to $65.00 in a research report on Tuesday, January 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $58.90.

Shares of NYSE:SON opened at $65.08 on Wednesday. The company’s 50 day moving average price is $62.16 and its two-hundred day moving average price is $58.20. Sonoco Products has a 12-month low of $42.41 and a 12-month high of $65.15. The firm has a market cap of $6.55 billion, a PE ratio of 25.03, a PEG ratio of 3.48 and a beta of 0.83. The company has a quick ratio of 1.23, a current ratio of 1.52 and a debt-to-equity ratio of 0.86.

Sonoco Products (NYSE:SON) last announced its earnings results on Wednesday, February 10th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.05. Sonoco Products had a net margin of 5.11% and a return on equity of 18.67%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the business posted $0.75 EPS.

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 10th. Stockholders of record on Wednesday, February 24th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date was Tuesday, February 23rd. This is an increase from Sonoco Products’s previous quarterly dividend of $0.43. Sonoco Products’s dividend payout ratio is 50.99%.

In other news, VP James A. Harrell III sold 580 shares of the company’s stock in a transaction that occurred on Wednesday, March 10th. The shares were sold at an average price of $62.63, for a total transaction of $36,325.40. Following the completion of the sale, the vice president now owns 22,828 shares of the company’s stock, valued at approximately $1,429,717.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.58% of the company’s stock.

A number of large investors have recently modified their holdings of SON. Federated Hermes Inc. lifted its stake in Sonoco Products by 3.1% in the 3rd quarter. Federated Hermes Inc. now owns 21,452 shares of the industrial products company’s stock valued at $1,096,000 after purchasing an additional 641 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Sonoco Products in the 3rd quarter valued at approximately $1,644,000. Great West Life Assurance Co. Can lifted its stake in Sonoco Products by 56.0% in the 3rd quarter. Great West Life Assurance Co. Can now owns 79,479 shares of the industrial products company’s stock valued at $3,011,000 after purchasing an additional 28,524 shares during the last quarter. Guggenheim Capital LLC raised its stake in shares of Sonoco Products by 21.1% during the third quarter. Guggenheim Capital LLC now owns 10,357 shares of the industrial products company’s stock valued at $529,000 after acquiring an additional 1,806 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Sonoco Products by 1.1% during the third quarter. UBS Asset Management Americas Inc. now owns 160,580 shares of the industrial products company’s stock valued at $8,201,000 after acquiring an additional 1,736 shares during the last quarter. 74.02% of the stock is owned by institutional investors and hedge funds.

About Sonoco Products

Sonoco Products Company manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through four segments: Consumer Packaging, Display and Packaging, Paper and Industrial Converted Products, and Protective Solutions. The Consumer Packaging segment provides paper and thermoformed plastic round and shaped rigid containers and trays; extruded and injection-molded plastic products; printed flexible packaging products; brand artwork management; and metal and peelable membrane ends and closures.

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