Sonoco Products (NYSE:SON) Receives $59.00 Consensus PT from Analysts

Shares of Sonoco Products (NYSE:SON) have been assigned an average recommendation of “Hold” from the five brokerages that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $59.00.

Several research firms have weighed in on SON. Citigroup boosted their price target on Sonoco Products from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Truist Financial initiated coverage on shares of Sonoco Products in a report on Tuesday, November 26th. They set a “buy” rating and a $63.00 target price on the stock. Finally, Robert W. Baird cut their price target on shares of Sonoco Products from $58.00 to $55.00 and set a “neutral” rating for the company in a research note on Monday, November 4th.

Hedge Funds Weigh In On Sonoco Products

Large investors have recently modified their holdings of the stock. Pacer Advisors Inc. lifted its holdings in Sonoco Products by 13,464.6% during the 2nd quarter. Pacer Advisors Inc. now owns 1,980,297 shares of the industrial products company’s stock worth $100,441,000 after purchasing an additional 1,965,698 shares during the last quarter. Private Management Group Inc. bought a new position in Sonoco Products during the 3rd quarter worth $24,994,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Sonoco Products by 50.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,029,166 shares of the industrial products company’s stock worth $56,223,000 after buying an additional 344,658 shares in the last quarter. Dimensional Fund Advisors LP boosted 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 acquiring an additional 261,062 shares during the period. Finally, AQR Capital Management LLC increased its position in Sonoco Products by 80.8% during the second quarter. AQR Capital Management LLC now owns 555,575 shares of the industrial products company’s stock worth $28,179,000 after acquiring an additional 248,236 shares during the period. 77.69% of the stock is owned by institutional investors.

Sonoco Products Stock Down 0.6 %

Sonoco Products stock opened at $48.89 on Tuesday. 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 company has a fifty day simple moving average of $51.11 and a 200 day simple moving average of $52.30. The company has a market cap of $4.80 billion, a P/E ratio of 16.80, a price-to-earnings-growth ratio of 2.14 and a beta of 0.67.

Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.04. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. Sonoco Products’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.46 EPS. Research analysts anticipate that Sonoco Products will post 5.09 earnings per share for the current fiscal year.

Sonoco Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 8th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date was Friday, November 8th. Sonoco Products’s dividend payout ratio (DPR) is presently 71.48%.

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.