Sonoco Products (NYSE:SON) Reaches New 1-Year Low – Time to Sell?

Sonoco Products (NYSE:SON) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $44.10 and last traded at $43.87, with a volume of 28892 shares traded. The stock had previously closed at $45.97.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Bank of America lifted their target price on shares of Sonoco Products from $66.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. StockNews.com upgraded Sonoco Products from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th. Citigroup decreased their price target on Sonoco Products from $59.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company dropped their price objective on shares of Sonoco Products from $50.00 to $48.00 and set an “underweight” rating for the company in a research note on Monday, February 24th. Finally, Truist Financial decreased their target price on shares of Sonoco Products from $68.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Sonoco Products presently has an average rating of “Hold” and a consensus target price of $58.50.

Sonoco Products Trading Down 4.8 %

The company has a market capitalization of $4.32 billion, a PE ratio of 26.52, a P/E/G ratio of 0.76 and a beta of 0.64. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.91 and a current ratio of 0.79. The business has a fifty day moving average price of $47.12 and a 200 day moving average price of $49.72.

Sonoco Products (NYSE:SON) last posted its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.01). Sonoco Products had a net margin of 2.60% and a return on equity of 20.81%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Analysts expect that Sonoco Products will post 6.1 EPS for the current fiscal year.

Sonoco Products Announces Dividend

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

Insiders Place Their Bets

In other news, Director John R. Haley purchased 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average cost of $46.76 per share, for a total transaction of $140,280.00. Following the completion of the purchase, the director now owns 18,558 shares of the company’s stock, valued at approximately $867,772.08. This trade represents a 19.28 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO R. Howard Coker purchased 20,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average cost of $46.10 per share, for a total transaction of $922,000.00. Following the completion of the transaction, the chief executive officer now owns 482,365 shares in the company, valued at approximately $22,237,026.50. This represents a 4.33 % increase in their position. The disclosure for this purchase can be found here. 0.74% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sonoco Products

Several institutional investors and hedge funds have recently bought and sold shares of the business. Private Management Group Inc. raised its holdings in shares of Sonoco Products by 27.7% during the fourth quarter. Private Management Group Inc. now owns 584,390 shares of the industrial products company’s stock valued at $28,547,000 after buying an additional 126,867 shares during the last quarter. Quilter Plc increased its holdings in shares of Sonoco Products by 3.1% in the 4th quarter. Quilter Plc now owns 299,178 shares of the industrial products company’s stock valued at $14,615,000 after purchasing an additional 8,895 shares during the period. Synergy Asset Management LLC increased its stake in shares of Sonoco Products by 9.0% in the fourth quarter. Synergy Asset Management LLC now owns 66,754 shares of the industrial products company’s stock worth $3,610,000 after acquiring an additional 5,505 shares during the last quarter. ING Groep NV grew its stake in shares of Sonoco Products by 579.8% in the 4th quarter. ING Groep NV now owns 144,800 shares of the industrial products company’s stock valued at $7,073,000 after buying an additional 123,500 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of Sonoco Products by 312.1% in the 3rd quarter. Jane Street Group LLC now owns 185,351 shares of the industrial products company’s stock valued at $10,126,000 after purchasing an additional 140,370 shares during the last quarter. 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.