Sonoco Products (NYSE:SON) Receives $58.00 Consensus Price Target from Analysts

Shares of Sonoco Products (NYSE:SON - Get Free Report) have been assigned an average recommendation of "Hold" from the four analysts that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $58.00.

SON has been the topic of a number of research analyst reports. Citigroup raised their price objective on shares of Sonoco Products from $62.00 to $63.00 and gave the stock a "buy" rating in a report on Wednesday, October 2nd. Robert W. Baird cut their target price on Sonoco Products from $58.00 to $55.00 and set a "neutral" rating on the stock in a research report on Monday. Raymond James assumed coverage on Sonoco Products in a research note on Friday, July 19th. They set an "outperform" rating and a $62.00 price target on the stock. Finally, Wells Fargo & Company cut Sonoco Products from an "equal weight" rating to an "underweight" rating and reduced their price objective for the company from $54.00 to $52.00 in a research note on Wednesday, August 21st.

Sonoco Products Stock Down 1.1 %

NYSE SON traded down $0.58 on Monday, hitting $50.56. 768,653 shares of the stock were exchanged, compared to its average volume of 616,830. Sonoco Products has a fifty-two week low of $48.22 and a fifty-two week high of $61.73. The company has a 50-day moving average price of $54.03 and a 200-day moving average price of $54.55. The company has a market cap of $4.97 billion, a PE ratio of 17.37, a PEG ratio of 2.20 and a beta of 0.69. The company has a quick ratio of 0.85, a current ratio of 1.30 and a debt-to-equity ratio of 1.04.

Sonoco Products (NYSE:SON - Get Free Report) last posted its earnings results on Thursday, October 31st. The industrial products company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.45 by $0.04. Sonoco Products had a return on equity of 20.03% and a net margin of 4.38%. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the company posted $1.46 earnings per share. Sonoco Products's revenue for the quarter was down 2.0% compared to the same quarter last year. Sell-side analysts anticipate that Sonoco Products will post 5 EPS for the current fiscal year.

Sonoco Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date of this dividend is Friday, November 8th. Sonoco Products's payout ratio is currently 71.48%.

Institutional Investors Weigh In On Sonoco Products

Hedge funds have recently modified their holdings of the stock. Kennebec Savings Bank purchased a new stake in Sonoco Products in the 3rd quarter valued at approximately $27,000. FinTrust Capital Advisors LLC boosted its stake in shares of Sonoco Products by 78.8% in the first 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 in the last quarter. Capital Performance Advisors LLP acquired a new position in Sonoco Products during the third quarter worth $33,000. Allspring Global Investments Holdings LLC purchased a new position in Sonoco Products in the first quarter worth $50,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in Sonoco Products in the second quarter valued at $50,000. 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.