Sonoco Products (NYSE:SON) Hits New 12-Month High at $56.10

Sonoco Products (NYSE:SON - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $56.10 and last traded at $56.10, with a volume of 6778 shares. The stock had previously closed at $56.10.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SON shares. Raymond James began coverage on shares of Sonoco Products in a research note on Friday, July 19th. They issued an "outperform" rating and a $62.00 price target on the stock. Wells Fargo & Company downgraded Sonoco Products from an "equal weight" rating to an "underweight" rating and dropped their price target for the stock from $54.00 to $52.00 in a research note on Wednesday, August 21st. StockNews.com downgraded Sonoco Products from a "strong-buy" rating to a "buy" rating in a report on Wednesday, July 3rd. Finally, Citigroup reduced their price target on shares of Sonoco Products from $64.00 to $60.00 and set a "buy" rating for the company in a research report on Monday, July 8th. One research analyst has rated the stock with a sell rating and three have assigned a buy rating to the stock. According to MarketBeat, Sonoco Products has an average rating of "Moderate Buy" and a consensus price target of $58.00.

Sonoco Products Stock Down 1.7 %

The company has a market capitalization of $5.46 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 2.20 and a beta of 0.68. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.85 and a current ratio of 1.30. The business has a 50-day simple moving average of $51.42 and a two-hundred day simple moving average of $55.51.

Sonoco Products (NYSE:SON - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.26 by $0.02. The firm had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.69 billion. Sonoco Products had a net margin of 5.57% and a return on equity of 20.10%. Sonoco Products's quarterly revenue was down 4.8% on a year-over-year basis. During the same period last year, the firm posted $1.38 EPS. As a group, equities analysts predict that Sonoco Products will post 5.09 EPS for the current year.

Sonoco Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be issued a $0.52 dividend. The ex-dividend date is Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 3.74%. Sonoco Products's dividend payout ratio is currently 52.53%.

Institutional Investors Weigh In On Sonoco Products

A number of large investors have recently added to or reduced their stakes in the business. Rise Advisors LLC acquired a new stake in shares of Sonoco Products during the first quarter worth $26,000. FinTrust Capital Advisors LLC grew its holdings in Sonoco Products by 78.8% in the 1st quarter. FinTrust Capital Advisors LLC now owns 490 shares of the industrial products company's stock valued at $28,000 after buying an additional 216 shares during the period. Burkett Financial Services LLC acquired a new position in shares of Sonoco Products during the 4th quarter valued at about $30,000. TFO Wealth Partners LLC lifted its holdings in shares of Sonoco Products by 12,183.3% during the 4th quarter. TFO Wealth Partners LLC now owns 737 shares of the industrial products company's stock worth $41,000 after acquiring an additional 731 shares during the period. Finally, Parallel Advisors LLC boosted its position in shares of Sonoco Products by 154.6% in the fourth quarter. Parallel Advisors LLC now owns 881 shares of the industrial products company's stock worth $49,000 after acquiring an additional 535 shares during the last quarter. 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.