Sonoco Products (NYSE:SON) Receives Consensus Rating of “Hold” from Analysts

Sonoco Products (NYSE:SON) has earned a consensus recommendation of “Hold” from the five analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $59.00.

Several equities research analysts have recently weighed in on SON shares. Robert W. Baird reduced their price target on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Citigroup lifted their target price on Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Finally, Truist Financial initiated coverage on Sonoco Products in a research report on Tuesday, November 26th. They set a “buy” rating and a $63.00 price target on the stock.

Sonoco Products Stock Performance

Shares of NYSE SON opened at $49.56 on Tuesday. The firm’s fifty day moving average is $51.58 and its two-hundred day moving average is $52.61. Sonoco Products has a 52-week low of $48.22 and a 52-week high of $61.73. The company has a market cap of $4.87 billion, a P/E ratio of 17.03, a P/E/G ratio of 2.14 and a beta of 0.67. 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 (NYSE:SON) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.04. Sonoco Products had a net margin of 4.38% and a return on equity of 19.92%. The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the business posted $1.46 earnings per share. Sonoco Products’s quarterly revenue was down 2.0% on a year-over-year basis. As a group, analysts anticipate that Sonoco Products will post 5.09 EPS for the current fiscal year.

Sonoco Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 8th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.20%. Sonoco Products’s dividend payout ratio (DPR) is presently 71.48%.

Hedge Funds Weigh In On Sonoco Products

Hedge funds have recently modified their holdings of the stock. Raymond James & Associates grew its position in Sonoco Products by 5.4% during the 2nd quarter. Raymond James & Associates now owns 102,935 shares of the industrial products company’s stock worth $5,221,000 after purchasing an additional 5,301 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Sonoco Products by 1.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,765 shares of the industrial products company’s stock valued at $1,002,000 after buying an additional 298 shares during the last quarter. Argyle Capital Management Inc. increased its position in shares of Sonoco Products by 12.7% in the 2nd quarter. Argyle Capital Management Inc. now owns 31,133 shares of the industrial products company’s stock valued at $1,579,000 after acquiring an additional 3,500 shares during the period. Panagora Asset Management Inc. raised its stake in Sonoco Products by 49.0% in the 2nd quarter. Panagora Asset Management Inc. now owns 85,032 shares of the industrial products company’s stock worth $4,313,000 after acquiring an additional 27,951 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Sonoco Products during the 2nd quarter worth about $644,000. Institutional investors and hedge funds own 77.69% of the company’s stock.

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.