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

Shares of Sonoco Products (NYSE:SON) have been assigned an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $58.50.

A number of research analysts have recently commented on the company. Citigroup dropped their price objective on Sonoco Products from $59.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Truist Financial dropped their price objective on Sonoco Products from $68.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Wells Fargo & Company dropped their price objective on Sonoco Products from $50.00 to $48.00 and set an “underweight” rating on the stock in a report on Monday, February 24th. StockNews.com upgraded Sonoco Products from a “sell” rating to a “hold” rating in a report on Wednesday, March 5th. Finally, Bank of America increased their price objective on Sonoco Products from $66.00 to $71.00 and gave the company a “buy” rating in a report on Monday, January 6th.

Sonoco Products Price Performance

SON stock opened at $44.65 on Friday. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.79 and a quick ratio of 1.91. The firm has a market capitalization of $4.39 billion, a P/E ratio of 27.06, a P/E/G ratio of 0.76 and a beta of 0.61. The business’s 50-day moving average is $47.43 and its two-hundred day moving average is $50.70. Sonoco Products has a 1 year low of $44.35 and a 1 year high of $61.73.

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 analysts’ consensus estimates of $1.18 by ($0.01). The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.67 billion. Sonoco Products had a net margin of 2.60% and a return on equity of 20.81%. Analysts anticipate that Sonoco Products will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Wednesday, February 26th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $2.08 dividend on an annualized basis and a yield of 4.66%. Sonoco Products’s dividend payout ratio is presently 126.06%.

Insider Buying and Selling 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 transaction, the director now directly owns 16,065 shares in the company, valued at approximately $770,316.75. This trade represents a 19.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John R. Haley bought 3,000 shares of the stock in a transaction on Thursday, February 27th. The stock was bought at an average price of $46.76 per share, for a total transaction of $140,280.00. Following the completion of the purchase, the director now directly owns 18,558 shares in the company, valued at approximately $867,772.08. The trade was a 19.28 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.51% of the company’s stock.

Institutional Trading of Sonoco Products

Several hedge funds have recently modified their holdings of the business. Arizona State Retirement System lifted its holdings in shares of 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 period. IFP Advisors Inc lifted 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 period. Wedmont Private Capital lifted its holdings in shares of Sonoco Products by 3.9% in the 4th 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 during the period. Treasurer of the State of North Carolina lifted its holdings in shares of Sonoco Products by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 43,056 shares of the industrial products company’s stock valued at $2,103,000 after buying an additional 270 shares during the period. Finally, Pallas Capital Advisors LLC lifted its holdings in shares of Sonoco Products by 6.4% in the 4th quarter. Pallas Capital Advisors LLC now owns 4,701 shares of the industrial products company’s stock valued at $230,000 after buying an additional 284 shares during the period. 77.69% of the stock is owned by institutional investors and hedge funds.

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.