Sonoco Products (NYSE:SON) Price Target Raised to $60.00

Sonoco Products (NYSE:SON) had its price objective raised by Robert W. Baird from $48.00 to $60.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

SON has been the topic of a number of other research reports. Raymond James Financial set a $60.00 price objective on shares of Sonoco Products in a research note on Monday, January 5th. Zacks Research raised shares of Sonoco Products from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Sonoco Products in a report on Wednesday, January 21st. UBS Group upped their price objective on shares of Sonoco Products from $44.00 to $48.00 and gave the company a “neutral” rating in a research report on Monday, January 12th. Finally, Wall Street Zen raised Sonoco Products from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Four equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Sonoco Products has an average rating of “Hold” and a consensus target price of $62.63.

Sonoco Products Trading Up 0.7%

NYSE SON opened at $56.48 on Wednesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.58 and a current ratio of 1.05. Sonoco Products has a one year low of $38.65 and a one year high of $58.44. The company’s 50 day moving average price is $47.88 and its 200 day moving average price is $44.81. The firm has a market capitalization of $5.57 billion, a price-to-earnings ratio of 5.61, a PEG ratio of 1.12 and a beta of 0.54.

Sonoco Products (NYSE:SON) last posted its earnings results on Monday, February 16th. The industrial products company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.04. Sonoco Products had a net margin of 13.34% and a return on equity of 18.52%. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the business posted $1.17 EPS. The business’s quarterly revenue was up 29.7% on a year-over-year basis. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. On average, sell-side analysts predict that Sonoco Products will post 6.1 EPS for the current year.

Sonoco Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 25th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Wednesday, February 25th. Sonoco Products’s payout ratio is 21.05%.

Hedge Funds Weigh In On Sonoco Products

A number of hedge funds have recently added to or reduced their stakes in the business. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Sonoco Products by 477.8% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,901,950 shares of the industrial products company’s stock worth $257,561,000 after purchasing an additional 4,880,438 shares during the period. AQR Capital Management LLC raised its stake in Sonoco Products by 357.8% during the third quarter. AQR Capital Management LLC now owns 2,117,022 shares of the industrial products company’s stock worth $90,693,000 after acquiring an additional 1,654,576 shares during the period. Norges Bank bought a new position in Sonoco Products in the fourth quarter worth about $54,611,000. Squarepoint Ops LLC lifted its holdings in Sonoco Products by 2,813.2% in the fourth quarter. Squarepoint Ops LLC now owns 876,895 shares of the industrial products company’s stock worth $38,268,000 after acquiring an additional 846,794 shares during the last quarter. Finally, LSV Asset Management boosted its stake in Sonoco Products by 95.7% in the fourth quarter. LSV Asset Management now owns 1,563,390 shares of the industrial products company’s stock valued at $68,226,000 after acquiring an additional 764,590 shares during the period. Institutional investors and hedge funds 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.