Sonoco Products (NYSE:SON) Given Consensus Rating of "Moderate Buy" by Analysts

Sonoco Products (NYSE:SON - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the seven analysts that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $56.43.

A number of brokerages have recently commented on SON. Bank of America lifted their target price on Sonoco Products from $66.00 to $71.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Wells Fargo & Company cut their price target on shares of Sonoco Products from $50.00 to $48.00 and set an "underweight" rating on the stock in a report on Monday, February 24th. Jefferies Financial Group began coverage on Sonoco Products in a research note on Tuesday, April 22nd. They issued a "buy" rating and a $62.00 price objective on the stock. Truist Financial lowered their price target on shares of Sonoco Products from $60.00 to $54.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Finally, Citigroup decreased their price objective on Sonoco Products from $59.00 to $55.00 and set a "buy" rating for the company in a research note on Monday, January 6th.

Insiders Place Their Bets

In other Sonoco Products news, Director John R. Haley acquired 3,000 shares of the business's stock in a transaction on Thursday, February 27th. The stock was bought at an average price of $46.76 per share, for a total transaction of $140,280.00. Following the acquisition, the director now owns 18,558 shares in the company, valued at approximately $867,772.08. The trade was a 19.28 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO R. Howard Coker acquired 20,000 shares of Sonoco Products stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average price of $46.10 per share, for a total transaction of $922,000.00. Following the transaction, the chief executive officer now owns 482,365 shares of the company's stock, valued at $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 company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SON. UMB Bank n.a. grew its holdings in shares of Sonoco Products by 152.7% during the 1st quarter. UMB Bank n.a. now owns 950 shares of the industrial products company's stock worth $45,000 after purchasing an additional 574 shares during the period. Colonial Trust Co SC raised its stake in shares of Sonoco Products by 90.6% in the 4th quarter. Colonial Trust Co SC now owns 953 shares of the industrial products company's stock valued at $47,000 after acquiring an additional 453 shares during the period. Quarry LP raised its stake in shares of Sonoco Products by 111.3% in the 4th quarter. Quarry LP now owns 970 shares of the industrial products company's stock valued at $47,000 after acquiring an additional 511 shares during the period. True Wealth Design LLC lifted its holdings in shares of Sonoco Products by 650.7% in the 4th quarter. True Wealth Design LLC now owns 1,096 shares of the industrial products company's stock worth $54,000 after acquiring an additional 950 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Sonoco Products during the 3rd quarter worth approximately $71,000. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Sonoco Products Trading Down 0.4 %

Sonoco Products stock opened at $46.23 on Monday. Sonoco Products has a 12-month low of $39.46 and a 12-month high of $61.73. The firm has a market capitalization of $4.56 billion, a price-to-earnings ratio of 28.02, a P/E/G ratio of 0.76 and a beta of 0.64. The firm has a 50 day moving average of $45.66 and a 200 day moving average of $48.48. The company has a current ratio of 0.79, a quick ratio of 1.91 and a debt-to-equity ratio of 2.18.

Sonoco Products (NYSE:SON - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $1.17 EPS for the quarter, missing analysts' consensus estimates of $1.18 by ($0.01). Sonoco Products had a return on equity of 20.81% and a net margin of 2.60%. The business had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.67 billion. As a group, research analysts predict that Sonoco Products will post 6.1 earnings per share for the current year.

Sonoco Products Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be given a $0.53 dividend. The ex-dividend date of this dividend is Friday, May 9th. This is a boost from Sonoco Products's previous quarterly dividend of $0.52. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.59%. Sonoco Products's payout ratio is 128.48%.

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.

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