Sonoco Products (NYSE:SON) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Sonoco Products (NYSE:SON) has received an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $60.17.

A number of brokerages have recently commented on SON. Wells Fargo & Company lowered their price target on Sonoco Products from $52.00 to $50.00 and set an “underweight” rating for the company in a research note on Monday, January 6th. Robert W. Baird cut their target price on shares of Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Bank of America boosted their price target on shares of Sonoco Products from $66.00 to $71.00 and gave the company a “buy” rating in a report on Monday, January 6th. Truist Financial raised their price objective on Sonoco Products from $63.00 to $68.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Citigroup decreased their target price on Sonoco Products from $59.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, January 6th.

Sonoco Products Price Performance

Shares of SON stock opened at $48.22 on Wednesday. The firm’s 50 day moving average price is $48.46 and its two-hundred day moving average price is $51.11. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.91 and a current ratio of 2.36. Sonoco Products has a 52-week low of $45.93 and a 52-week high of $61.73. The stock has a market cap of $4.74 billion, a PE ratio of 16.57, a PEG ratio of 0.76 and a beta of 0.67.

Sonoco Products (NYSE:SON) last posted its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.01). Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. As a group, analysts forecast that Sonoco Products will post 5.08 EPS for the current year.

Sonoco Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 26th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date is Wednesday, February 26th. Sonoco Products’s dividend payout ratio (DPR) is presently 71.48%.

Insider Transactions at Sonoco Products

In other Sonoco Products news, Director Robert R. Hill, Jr. sold 4,000 shares of the company’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 transaction of $191,800.00. Following the completion of the transaction, the director now owns 16,065 shares of the company’s stock, valued at $770,316.75. This represents a 19.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.51% of the stock is owned by insiders.

Institutional Trading of Sonoco Products

Institutional investors have recently made changes to their positions in the business. Arizona State Retirement System increased its stake in Sonoco Products by 0.8% in the 4th quarter. Arizona State Retirement System now owns 28,516 shares of the industrial products company’s stock valued at $1,393,000 after buying an additional 224 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of Sonoco Products by 3.6% in the 4th quarter. IFP Advisors Inc now owns 7,073 shares of the industrial products company’s stock valued at $346,000 after buying an additional 243 shares during the last quarter. Wedmont Private Capital grew its stake in shares of Sonoco Products by 3.9% in the fourth quarter. Wedmont Private Capital now owns 6,652 shares of the industrial products company’s stock valued at $306,000 after buying an additional 247 shares in the last quarter. Treasurer of the State of North Carolina increased its holdings in Sonoco Products by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 43,056 shares of the industrial products company’s stock worth $2,103,000 after buying an additional 270 shares during the last quarter. Finally, Pallas Capital Advisors LLC raised its position in Sonoco Products by 6.4% during the fourth quarter. Pallas Capital Advisors LLC now owns 4,701 shares of the industrial products company’s stock worth $230,000 after acquiring an additional 284 shares in the last quarter. Institutional investors own 77.69% of the company’s stock.

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.