Brokerages Set Sonoco Products (NYSE:SON) Target Price at $60.17

Sonoco Products (NYSE:SON) has received a consensus rating of “Moderate Buy” from the six ratings firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $60.17.

SON has been the subject of several recent analyst reports. Citigroup lowered their price target on Sonoco Products from $59.00 to $55.00 and set a “buy” rating for the company in a report on Monday, January 6th. Wells Fargo & Company decreased their price objective on Sonoco Products from $52.00 to $50.00 and set an “underweight” rating for the company in a report on Monday, January 6th. Robert W. Baird decreased their price objective on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Truist Financial increased their price objective on Sonoco Products from $63.00 to $68.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Bank of America increased their price objective on Sonoco Products from $66.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, January 6th.

Insider Buying and Selling at Sonoco Products

In other Sonoco Products news, Director Robert R. Hill, Jr. sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $47.95, for a total value of $191,800.00. Following the completion of the transaction, the director now directly owns 16,065 shares in the company, valued at $770,316.75. This trade represents a 19.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.51% of the company’s stock.

Institutional Trading of Sonoco Products

A number of hedge funds have recently made changes to their positions in the business. Earnest Partners LLC lifted its position in shares of Sonoco Products by 2.5% in the second quarter. Earnest Partners LLC now owns 2,645,744 shares of the industrial products company’s stock valued at $134,192,000 after buying an additional 64,915 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Sonoco Products by 11.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,631,259 shares of the industrial products company’s stock valued at $133,465,000 after buying an additional 261,062 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Sonoco Products by 13,464.6% in the second quarter. Pacer Advisors Inc. now owns 1,980,297 shares of the industrial products company’s stock valued at $100,441,000 after buying an additional 1,965,698 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Sonoco Products by 2.3% in the third quarter. Geode Capital Management LLC now owns 1,863,756 shares of the industrial products company’s stock valued at $101,842,000 after buying an additional 42,701 shares during the last quarter. Finally, Sei Investments Co. lifted its position in shares of Sonoco Products by 9.3% in the second quarter. Sei Investments Co. now owns 1,490,580 shares of the industrial products company’s stock valued at $75,602,000 after buying an additional 126,643 shares during the last quarter. 77.69% of the stock is owned by institutional investors and hedge funds.

Sonoco Products Stock Down 0.4 %

Shares of Sonoco Products stock opened at $48.44 on Friday. Sonoco Products has a 1 year low of $45.93 and a 1 year high of $61.73. The business has a 50-day moving average of $49.59 and a two-hundred day moving average of $51.55. The company has a market capitalization of $4.76 billion, a P/E ratio of 16.65, a price-to-earnings-growth ratio of 0.78 and a beta of 0.68. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.36 and a quick ratio of 1.91.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.04. Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the prior year, the company earned $1.46 earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, equities analysts predict that Sonoco Products will post 5.12 EPS for the current year.

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.