Sonoco Products (NYSE:SON) Reaches New 1-Year Low - Here's Why

Sonoco Products (NYSE:SON - Get Free Report)'s stock price reached a new 52-week low on Thursday . The stock traded as low as $48.17 and last traded at $48.27, with a volume of 144539 shares. The stock had previously closed at $48.85.

Analyst Upgrades and Downgrades

SON has been the topic of several recent analyst reports. Robert W. Baird lowered their price objective 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. Citigroup boosted their price target on Sonoco Products from $62.00 to $63.00 and gave the stock a "buy" rating in a research report on Wednesday, October 2nd. Finally, Truist Financial started coverage on Sonoco Products in a research report on Tuesday, November 26th. They issued a "buy" rating and a $63.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Sonoco Products has an average rating of "Moderate Buy" and a consensus target price of $59.00.

Sonoco Products Trading Down 1.7 %

The stock has a market cap of $4.72 billion, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 2.14 and a beta of 0.67. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.91 and a current ratio of 2.36. The firm's fifty day simple moving average is $50.79 and its 200-day simple moving average is $52.08.

Sonoco Products (NYSE:SON - Get Free Report) last released its earnings results on Thursday, October 31st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the previous year, the company earned $1.46 EPS. Sonoco Products's quarterly revenue was down 2.0% compared to the same quarter last year. Equities research analysts expect that Sonoco Products will post 5.09 EPS for the current fiscal year.

Sonoco Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.33%. Sonoco Products's dividend payout ratio (DPR) is 71.48%.

Institutional Trading of Sonoco Products

A number of institutional investors have recently modified their holdings of SON. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Sonoco Products by 1.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,765 shares of the industrial products company's stock worth $1,002,000 after buying an additional 298 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Sonoco Products during the 2nd quarter valued at $644,000. Natixis Advisors LLC raised its position in Sonoco Products by 5.3% in the 2nd quarter. Natixis Advisors LLC now owns 132,499 shares of the industrial products company's stock worth $6,720,000 after purchasing an additional 6,709 shares during the period. TD Asset Management Inc lifted its stake in Sonoco Products by 2.0% in the second quarter. TD Asset Management Inc now owns 15,200 shares of the industrial products company's stock worth $771,000 after purchasing an additional 300 shares during the last quarter. Finally, Impact Partnership Wealth LLC purchased a new stake in Sonoco Products during the second quarter valued at about $212,000. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

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.