Sonoco Products (SON) – Investment Analysts’ Weekly Ratings Updates

Several brokerages have updated their recommendations and price targets on shares of Sonoco Products (NYSE: SON) in the last few weeks:

• 1/6/2025 – Sonoco Products had its price target lowered by analysts at Wells Fargo & Company from $52.00 to $50.00. They now have an “underweight” rating on the stock.
• 1/6/2025 – Sonoco Products had its price target lowered by analysts at Citigroup Inc. from $59.00 to $55.00. They now have a “buy” rating on the stock.
• 1/6/2025 – Sonoco Products had its price target raised by analysts at Bank of America Co. from $66.00 to $71.00. They now have a “buy” rating on the stock.
• 1/6/2025 – Sonoco Products had its price target raised by analysts at Truist Financial Co. from $63.00 to $68.00. They now have a “buy” rating on the stock.
• 11/26/2024 – Sonoco Products is now covered by analysts at Truist Financial Co.. They set a “buy” rating and a $63.00 price target on the stock.

Sonoco Products Price Performance

SON stock traded up $0.36 during trading on Tuesday, reaching $46.93. 377,794 shares of the company were exchanged, compared to its average volume of 737,408. Sonoco Products has a twelve month low of $45.93 and a twelve month high of $61.73. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.36 and a quick ratio of 1.91. The company has a market capitalization of $4.61 billion, a price-to-earnings ratio of 16.13, a P/E/G ratio of 2.14 and a beta of 0.68. The company has a 50-day moving average of $50.07 and a two-hundred day moving average of $51.67.

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 analysts’ consensus estimates of $1.45 by $0.04. Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the firm posted $1.46 earnings per share. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, equities analysts predict that Sonoco Products will post 5.09 earnings per share for the current fiscal year.

Insider Activity at Sonoco Products

In other Sonoco Products news, Director Robert R. Hill, Jr. sold 4,000 shares of Sonoco Products 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 sale, the director now directly owns 16,065 shares in the company, valued at approximately $770,316.75. The trade was a 19.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.51% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sonoco Products

A number of institutional investors have recently modified their holdings of SON. TD Asset Management Inc raised its position in Sonoco Products by 2.0% in the 2nd quarter. TD Asset Management Inc now owns 15,200 shares of the industrial products company’s stock valued at $771,000 after buying an additional 300 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in Sonoco Products in the second quarter worth $200,000. Oppenheimer Asset Management Inc. grew its stake in Sonoco Products by 41.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 28,323 shares of the industrial products company’s stock valued at $1,437,000 after purchasing an additional 8,284 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Sonoco Products by 3.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 110,342 shares of the industrial products company’s stock valued at $5,597,000 after purchasing an additional 4,079 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased its position in shares of Sonoco Products by 1.9% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 228,976 shares of the industrial products company’s stock valued at $11,614,000 after purchasing an additional 4,210 shares during the last quarter. 77.69% of the stock is owned by institutional investors and hedge funds.

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.