Sonoco Products (NYSE:SON) Receives Consensus Recommendation of “Hold” from Analysts

Sonoco Products (NYSE:SON) has been assigned an average recommendation of “Hold” from the five analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $59.00.

Several brokerages recently commented on SON. Robert W. Baird decreased their price target 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. Truist Financial began coverage on Sonoco Products in a research note on Tuesday, November 26th. They issued a “buy” rating and a $63.00 price target on the stock. Wells Fargo & Company lowered Sonoco Products from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $54.00 to $52.00 in a research note on Wednesday, August 21st. Finally, Citigroup boosted their price objective on Sonoco Products from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd.

Sonoco Products Stock Performance

SON opened at $52.19 on Friday. The stock has a market cap of $5.13 billion, a PE ratio of 17.93, a P/E/G ratio of 2.15 and a beta of 0.67. The company has a current ratio of 2.36, a quick ratio of 1.91 and a debt-to-equity ratio of 1.74. Sonoco Products has a 1 year low of $48.22 and a 1 year high of $61.73. The stock’s 50 day simple moving average is $52.32 and its 200-day simple moving average is $53.55.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.45 by $0.04. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.72 billion. Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. Sonoco Products’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.46 EPS. Sell-side analysts forecast that Sonoco Products will post 5.09 EPS for the current year.

Sonoco Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.99%. The ex-dividend date is Friday, November 8th. Sonoco Products’s dividend payout ratio (DPR) is presently 71.48%.

Hedge Funds Weigh In On Sonoco Products

Several large investors have recently made changes to their positions in SON. Kennebec Savings Bank acquired a new position in shares of Sonoco Products during the third quarter valued at $27,000. Capital Performance Advisors LLP bought a new stake in Sonoco Products in the third quarter valued at about $33,000. Abich Financial Wealth Management LLC bought a new stake in Sonoco Products in the second quarter valued at about $50,000. Gradient Investments LLC bought a new stake in Sonoco Products in the second quarter valued at about $58,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Sonoco Products in the third quarter valued at about $71,000. Institutional investors and hedge funds own 77.69% of the company’s stock.

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.