Sonoco Products (NYSE:SON) PT Lowered to $54.00 at Wells Fargo & Company

Sonoco Products (NYSE:SON) had its target price cut by Wells Fargo & Company from $55.00 to $54.00 in a research report report published on Friday morning, Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

Other equities analysts have also issued research reports about the company. Citigroup dropped their price objective on Sonoco Products from $64.00 to $60.00 and set a buy rating for the company in a research note on Monday, July 8th. Raymond James began coverage on Sonoco Products in a research note on Friday, July 19th. They issued an outperform rating and a $62.00 price objective for the company. Finally, StockNews.com downgraded Sonoco Products from a strong-buy rating to a buy rating in a report on Wednesday, July 3rd. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $58.67.

Sonoco Products Stock Down 3.9 %

Shares of NYSE SON traded down $1.99 during mid-day trading on Friday, hitting $49.65. 761,749 shares of the stock traded hands, compared to its average volume of 579,739. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.83 and a current ratio of 1.30. Sonoco Products has a 52 week low of $48.22 and a 52 week high of $61.73. The company has a market cap of $4.88 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 2.27 and a beta of 0.68. The stock has a fifty day moving average price of $54.26 and a 200-day moving average price of $56.32.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.02. The firm had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.69 billion. Sonoco Products had a return on equity of 20.10% and a net margin of 5.57%. The company’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.38 earnings per share. Research analysts anticipate that Sonoco Products will post 5.08 EPS for the current year.

Sonoco Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend is Friday, August 9th. Sonoco Products’s dividend payout ratio is currently 52.53%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Wedmont Private Capital increased its holdings in Sonoco Products by 2.8% in the first quarter. Wedmont Private Capital now owns 6,541 shares of the industrial products company’s stock valued at $382,000 after buying an additional 178 shares during the last quarter. Richardson Financial Services Inc. raised its position in shares of Sonoco Products by 5.7% during the 1st quarter. Richardson Financial Services Inc. now owns 3,345 shares of the industrial products company’s stock worth $193,000 after purchasing an additional 180 shares during the last quarter. Curbstone Financial Management Corp raised its holdings in Sonoco Products by 0.7% in the 1st quarter. Curbstone Financial Management Corp now owns 27,750 shares of the industrial products company’s stock valued at $1,605,000 after acquiring an additional 200 shares during the last quarter. FinTrust Capital Advisors LLC raised its holdings in Sonoco Products by 78.8% in the 1st quarter. FinTrust Capital Advisors LLC now owns 490 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 216 shares during the last quarter. Finally, Sterling Investment Counsel LLC grew its stake in shares of Sonoco Products by 5.2% during the 1st quarter. Sterling Investment Counsel LLC now owns 5,460 shares of the industrial products company’s stock valued at $316,000 after buying an additional 270 shares during the period. 77.69% of the stock is currently owned by institutional investors and hedge funds.

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.