Sonoco Products (NYSE:SON) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Shares of Sonoco Products (NYSE:SON - Get Free Report) have earned an average recommendation of "Moderate Buy" from the six analysts that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $60.17.

SON has been the topic of a number of research analyst reports. Citigroup dropped their price objective on shares of Sonoco Products from $59.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Truist Financial raised their price objective on shares of Sonoco Products from $63.00 to $68.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Wells Fargo & Company lowered their price target on shares of Sonoco Products from $52.00 to $50.00 and set an "underweight" rating on the stock in a research note on Monday, January 6th. Robert W. Baird lowered their price target on shares of Sonoco Products from $58.00 to $55.00 and set a "neutral" rating on the stock in a research note on Monday, November 4th. Finally, Bank of America lifted their price target on shares of Sonoco Products from $66.00 to $71.00 and gave the company a "buy" rating in a research note on Monday, January 6th.

Sonoco Products Trading Up 0.3 %

Shares of NYSE SON traded up $0.12 during midday trading on Friday, reaching $47.72. 529,976 shares of the stock were exchanged, compared to its average volume of 707,069. The business has a 50-day simple moving average of $49.80 and a two-hundred day simple moving average of $51.59. The company has a market capitalization of $4.69 billion, a price-to-earnings ratio of 16.40, a P/E/G ratio of 0.72 and a beta of 0.68. Sonoco Products has a 12 month low of $45.93 and a 12 month high of $61.73. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.36 and a quick ratio of 1.91.

Sonoco Products (NYSE:SON - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $1.45 by $0.04. Sonoco Products had a net margin of 4.38% and a return on equity of 19.92%. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the business posted $1.46 earnings per share. The firm's quarterly revenue was down 2.0% on a year-over-year basis. As a group, equities research analysts expect that Sonoco Products will post 5.12 EPS for the current year.

Insider Activity

In other news, Director Robert R. Hill, Jr. sold 4,000 shares of Sonoco Products stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $47.95, for a total value of $191,800.00. Following the completion of the transaction, the director now owns 16,065 shares of the company's stock, valued at $770,316.75. This trade represents a 19.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.51% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SON. Envestnet Asset Management Inc. boosted its holdings in shares of Sonoco Products by 3.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 110,342 shares of the industrial products company's stock worth $5,597,000 after buying an additional 4,079 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Sonoco Products by 11.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,631,259 shares of the industrial products company's stock worth $133,465,000 after buying an additional 261,062 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Sonoco Products by 30.1% during the 2nd quarter. Renaissance Technologies LLC now owns 212,500 shares of the industrial products company's stock worth $10,778,000 after buying an additional 49,200 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Sonoco Products by 2.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 8,862 shares of the industrial products company's stock worth $445,000 after buying an additional 237 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Sonoco Products by 17.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 7,453 shares of the industrial products company's stock worth $378,000 after buying an additional 1,088 shares during the period. Institutional investors own 77.69% of the company's stock.

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.