Sonoco Products (NYSE:SON) Sets New 52-Week Low - Time to Sell?

Sonoco Products (NYSE:SON - Get Free Report) shares hit a new 52-week low on Thursday . The company traded as low as $39.46 and last traded at $42.84, with a volume of 1509262 shares changing hands. The stock had previously closed at $40.60.

Wall Street Analyst Weigh In

SON has been the topic of a number of research reports. Citigroup reduced their target price on shares of Sonoco Products from $59.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Bank of America upped their price target on shares of Sonoco Products from $66.00 to $71.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. StockNews.com raised shares of Sonoco Products from a "sell" rating to a "hold" rating in a report on Wednesday, March 5th. Wells Fargo & Company lowered their target price on Sonoco Products from $50.00 to $48.00 and set an "underweight" rating for the company in a report on Monday, February 24th. Finally, Truist Financial reduced their price target on Sonoco Products from $68.00 to $60.00 and set a "buy" rating for the company in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $58.50.

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Sonoco Products Price Performance

The company has a current ratio of 0.79, a quick ratio of 1.91 and a debt-to-equity ratio of 2.18. The company has a market capitalization of $4.36 billion, a price-to-earnings ratio of 26.78, a P/E/G ratio of 0.76 and a beta of 0.64. The firm has a 50-day simple moving average of $46.20 and a two-hundred day simple moving average of $49.05.

Sonoco Products (NYSE:SON - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.67 billion. Sonoco Products had a return on equity of 20.81% and a net margin of 2.60%. As a group, analysts predict that Sonoco Products will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 26th were given a $0.52 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $2.08 annualized dividend and a dividend yield of 4.71%. Sonoco Products's dividend payout ratio (DPR) is 126.06%.

Insider Buying and Selling

In other Sonoco Products news, CEO R. Howard Coker purchased 20,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average cost of $46.10 per share, for a total transaction of $922,000.00. Following the completion of the transaction, the chief executive officer now owns 482,365 shares of the company's stock, valued at $22,237,026.50. The trade was a 4.33 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John R. Haley acquired 3,000 shares of the business's stock in a transaction on Thursday, February 27th. The stock was acquired at an average price of $46.76 per share, with a total value of $140,280.00. Following the acquisition, the director now owns 18,558 shares in the company, valued at $867,772.08. The trade was a 19.28 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.74% of the company's stock.

Institutional Trading of Sonoco Products

A number of hedge funds and other institutional investors have recently modified their holdings of SON. Vanguard Group Inc. raised its holdings in shares of Sonoco Products by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 11,128,725 shares of the industrial products company's stock valued at $543,638,000 after buying an additional 120,843 shares during the period. Dimensional Fund Advisors LP grew its position in Sonoco Products by 4.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,140,471 shares of the industrial products company's stock valued at $153,411,000 after acquiring an additional 136,965 shares in the last quarter. Earnest Partners LLC lifted its position in shares of Sonoco Products by 0.4% during the fourth quarter. Earnest Partners LLC now owns 2,594,601 shares of the industrial products company's stock worth $126,746,000 after purchasing an additional 10,661 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Sonoco Products by 2.3% in the third quarter. Geode Capital Management LLC now owns 1,863,756 shares of the industrial products company's stock valued at $101,842,000 after purchasing an additional 42,701 shares during the period. Finally, Cooper Creek Partners Management LLC purchased a new position in shares of Sonoco Products in the fourth quarter valued at approximately $78,203,000. 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.