Sonoco Products (NYSE:SON - Get Free Report) shares hit a new 52-week low on Wednesday . The company traded as low as $46.46 and last traded at $46.73, with a volume of 41834 shares trading hands. The stock had previously closed at $47.41.
Analyst Ratings Changes
Several research firms have issued reports on SON. Truist Financial upped their price objective on shares of Sonoco Products from $63.00 to $68.00 and gave the company a "buy" rating in a research note on Monday. Wells Fargo & Company dropped their price target on Sonoco Products from $52.00 to $50.00 and set an "underweight" rating on the stock in a research note on Monday. Robert W. Baird reduced their price objective on Sonoco Products from $58.00 to $55.00 and set a "neutral" rating for the company in a research note on Monday, November 4th. Citigroup lowered 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. Finally, Bank of America increased their price objective on Sonoco Products from $66.00 to $71.00 and gave the stock a "buy" rating in a research report on Monday. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Sonoco Products presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.17.
View Our Latest Stock Report on Sonoco Products
Sonoco Products Price Performance
The company has a current ratio of 2.36, a quick ratio of 1.91 and a debt-to-equity ratio of 1.74. The stock has a fifty day simple moving average of $50.36 and a two-hundred day simple moving average of $51.79. The company has a market cap of $4.64 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 2.14 and a beta of 0.68.
Sonoco Products (NYSE:SON - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.49 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.04. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.72 billion. Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. The company's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.46 earnings per share. On average, equities analysts predict that Sonoco Products will post 5.09 EPS for the current fiscal year.
Sonoco Products Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 8th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date was Friday, November 8th. Sonoco Products's dividend payout ratio is currently 71.48%.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in SON. TD Asset Management Inc raised its stake in shares of Sonoco Products by 2.0% during the 2nd quarter. TD Asset Management Inc now owns 15,200 shares of the industrial products company's stock worth $771,000 after buying an additional 300 shares during the last quarter. Arizona State Retirement System grew its position in shares of Sonoco Products by 2.2% in the second quarter. Arizona State Retirement System now owns 27,506 shares of the industrial products company's stock valued at $1,395,000 after purchasing an additional 586 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Sonoco Products during the 2nd quarter worth approximately $200,000. Chesapeake Capital Corp IL acquired a new position in shares of Sonoco Products during the 2nd quarter worth approximately $325,000. Finally, Headlands Technologies LLC lifted its stake in Sonoco Products by 2,086.0% in the 2nd quarter. Headlands Technologies LLC now owns 5,924 shares of the industrial products company's stock valued at $300,000 after buying an additional 5,653 shares in the last quarter. 77.69% of the stock is owned by hedge funds and other institutional investors.
About Sonoco Products
(
Get Free Report)
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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