Sonoco Products Company (NYSE:SON) Receives $62.63 Consensus Target Price from Analysts

Sonoco Products Company (NYSE:SON) has received a consensus recommendation of “Hold” from the ten ratings firms that are currently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $62.1250.

Several equities research analysts have recently weighed in on SON shares. Bank of America upgraded Sonoco Products from a “neutral” rating to a “buy” rating and upped their price objective for the company from $56.00 to $60.00 in a research note on Monday, January 5th. Zacks Research upgraded Sonoco Products from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Robert W. Baird boosted their price target on Sonoco Products from $48.00 to $60.00 and gave the company a “neutral” rating in a research note on Wednesday, February 18th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Sonoco Products in a research report on Wednesday, January 21st. Finally, Wall Street Zen upgraded Sonoco Products from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th.

Insider Transactions at Sonoco Products

In other Sonoco Products news, insider Ernest D. Haynes III sold 1,581 shares of the business’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $56.39, for a total value of $89,152.59. Following the transaction, the insider directly owned 9,377 shares in the company, valued at $528,769.03. The trade was a 14.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.74% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sonoco Products

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Savant Capital LLC increased its position in Sonoco Products by 415.0% in the 3rd quarter. Savant Capital LLC now owns 37,875 shares of the industrial products company’s stock valued at $1,632,000 after acquiring an additional 30,520 shares in the last quarter. Allen Wealth Management LLC acquired a new position in shares of Sonoco Products during the third quarter worth approximately $1,489,000. AlphaQuest LLC grew its stake in shares of Sonoco Products by 1,237.0% during the third quarter. AlphaQuest LLC now owns 24,079 shares of the industrial products company’s stock valued at $1,038,000 after purchasing an additional 22,278 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of Sonoco Products by 329.3% during the third quarter. Voya Investment Management LLC now owns 50,390 shares of the industrial products company’s stock valued at $2,171,000 after purchasing an additional 38,653 shares during the last quarter. Finally, Pacer Advisors Inc. acquired a new stake in shares of Sonoco Products in the third quarter valued at approximately $560,000. 77.69% of the stock is owned by institutional investors and hedge funds.

Sonoco Products Price Performance

NYSE:SON opened at $51.79 on Thursday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.60 and a current ratio of 1.05. The company has a 50-day moving average of $51.98 and a 200-day moving average of $45.96. Sonoco Products has a 52 week low of $38.65 and a 52 week high of $58.44. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of 5.14, a PEG ratio of 1.02 and a beta of 0.51.

Sonoco Products (NYSE:SON) last posted its earnings results on Tuesday, February 17th. The industrial products company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.76 billion. During the same quarter in the previous year, the firm posted $1.17 earnings per share. The firm’s revenue for the quarter was up 29.7% on a year-over-year basis. As a group, equities research analysts anticipate that Sonoco Products will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Wednesday, February 25th were given a dividend of $0.53 per share. The ex-dividend date was Wednesday, February 25th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.1%. Sonoco Products’s dividend payout ratio (DPR) is 21.05%.

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.