Sonoco Products (NYSE:SON) Given Average Rating of “Hold” by Brokerages

Sonoco Products (NYSE:SON) has been assigned a consensus rating of “Hold” from the five research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $59.00.

A number of analysts have commented on the company. Truist Financial began coverage on Sonoco Products in a research report on Tuesday, November 26th. They set a “buy” rating and a $63.00 target price on the stock. Citigroup boosted their price objective on shares of Sonoco Products from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Finally, Robert W. Baird dropped their target price on shares of Sonoco Products from $58.00 to $55.00 and set a “neutral” rating for the company in a report on Monday, November 4th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kennebec Savings Bank purchased a new stake in shares of Sonoco Products during the third quarter worth about $27,000. Capital Performance Advisors LLP acquired a new position in Sonoco Products in the 3rd quarter valued at $33,000. Abich Financial Wealth Management LLC purchased a new position in shares of Sonoco Products during the 2nd quarter worth $50,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Sonoco Products in the third quarter valued at $71,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Sonoco Products by 821.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,879 shares of the industrial products company’s stock valued at $95,000 after purchasing an additional 1,675 shares during the last quarter. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Sonoco Products Stock Performance

Shares of SON opened at $48.60 on Tuesday. The company has a quick ratio of 1.91, a current ratio of 2.36 and a debt-to-equity ratio of 1.74. Sonoco Products has a 52-week low of $48.22 and a 52-week high of $61.73. The company has a 50-day simple moving average of $51.11 and a 200-day simple moving average of $52.26. The company has a market capitalization of $4.78 billion, a PE ratio of 16.70, a P/E/G ratio of 2.14 and a beta of 0.67.

Sonoco Products (NYSE:SON) last issued its earnings results on Thursday, October 31st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 4.38% and a return on equity of 19.92%. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the company posted $1.46 earnings per share. Equities research analysts predict that Sonoco Products will post 5.09 earnings per share for the current fiscal year.

Sonoco Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 8th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date of this dividend was Friday, November 8th. Sonoco Products’s dividend payout ratio is presently 71.48%.

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.