Analysts Set Sonoco Products (NYSE:SON) Target Price at $58.50

Shares of Sonoco Products (NYSE:SON) have received an average rating of “Moderate Buy” from the six ratings firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $58.50.

SON has been the subject of a number of research reports. Wells Fargo & Company reduced their price objective on Sonoco Products from $50.00 to $48.00 and set an “underweight” rating for the company in a research note on Monday, February 24th. Citigroup cut their price target on shares of Sonoco Products from $59.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Bank of America upped 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 decreased their price objective on shares of Sonoco Products from $68.00 to $60.00 and set a “buy” rating for the company in a report on Friday, February 21st. Finally, StockNews.com upgraded shares of Sonoco Products from a “sell” rating to a “hold” rating in a report on Wednesday, March 5th.

Insider Buying and Selling at Sonoco Products

In related news, CEO R. Howard Coker purchased 20,000 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were bought at an average price of $46.10 per share, with a total value of $922,000.00. Following the completion of the acquisition, the chief executive officer now owns 482,365 shares of the company’s stock, valued at approximately $22,237,026.50. This represents a 4.33 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert R. Hill, Jr. sold 4,000 shares of the firm’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 directly owns 16,065 shares of the company’s stock, valued at $770,316.75. This represents a 19.94 % decrease in their position. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sonoco Products

Large investors have recently bought and sold shares of the business. Arizona State Retirement System increased its position 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 worth $1,393,000 after buying an additional 224 shares during the period. IFP Advisors Inc raised its position in shares of Sonoco Products by 3.6% during the fourth 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 lifted 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 during the period. Treasurer of the State of North Carolina lifted its position in Sonoco Products by 0.6% in 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 purchasing an additional 270 shares during the period. Finally, Pallas Capital Advisors LLC increased its holdings in 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 currently owned by institutional investors.

Sonoco Products Trading Down 4.8 %

Shares of SON opened at $43.77 on Thursday. The company has a current ratio of 0.79, a quick ratio of 1.91 and a debt-to-equity ratio of 2.18. The stock has a 50 day simple moving average of $47.12 and a 200-day simple moving average of $49.72. Sonoco Products has a 1 year low of $43.40 and a 1 year high of $61.73. The stock has a market cap of $4.32 billion, a PE ratio of 26.52, a PEG ratio of 0.76 and a beta of 0.64.

Sonoco Products (NYSE:SON) last released its earnings results on Tuesday, February 18th. The industrial products company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.01). The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.67 billion. Sonoco Products had a return on equity of 20.81% and a net margin of 2.60%. On average, sell-side analysts predict that Sonoco Products will post 6.1 EPS for the current fiscal year.

Sonoco Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 26th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date of this dividend was Wednesday, February 26th. Sonoco Products’s dividend payout ratio is presently 126.06%.

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.