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

Shares of Sonoco Products (NYSE:SON - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the six ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $58.50.

SON has been the topic of several recent analyst reports. Bank of America lifted their target price on shares of Sonoco Products from $66.00 to $71.00 and gave the stock a "buy" rating in a report on Monday, January 6th. StockNews.com raised Sonoco Products from a "sell" rating to a "hold" rating in a research note on Wednesday, March 5th. Wells Fargo & Company lowered their price target on Sonoco Products from $50.00 to $48.00 and set an "underweight" rating for the company in a research note on Monday, February 24th. Citigroup lowered their price objective on shares of Sonoco Products from $59.00 to $55.00 and set a "buy" rating for the company in a research report on Monday, January 6th. 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.

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Insider Buying and Selling

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

Institutional Investors Weigh In On Sonoco Products

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Private Management Group Inc. boosted its holdings in Sonoco Products by 27.7% in the fourth quarter. Private Management Group Inc. now owns 584,390 shares of the industrial products company's stock worth $28,547,000 after acquiring an additional 126,867 shares in the last quarter. Quilter Plc boosted its position in Sonoco Products by 3.1% during the fourth quarter. Quilter Plc now owns 299,178 shares of the industrial products company's stock worth $14,615,000 after acquiring an additional 8,895 shares during the last quarter. Synergy Asset Management LLC boosted its position in shares of Sonoco Products by 9.0% during the 4th quarter. Synergy Asset Management LLC now owns 66,754 shares of the industrial products company's stock valued at $3,610,000 after acquiring an additional 5,505 shares during the last quarter. ING Groep NV increased its position in shares of Sonoco Products by 579.8% during the 4th quarter. ING Groep NV now owns 144,800 shares of the industrial products company's stock worth $7,073,000 after purchasing an additional 123,500 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of Sonoco Products by 312.1% in the third quarter. Jane Street Group LLC now owns 185,351 shares of the industrial products company's stock valued at $10,126,000 after purchasing an additional 140,370 shares in the last quarter. Institutional investors own 77.69% of the company's stock.

Sonoco Products Stock Down 4.6 %

Shares of NYSE:SON traded down $2.03 during mid-day trading on Thursday, hitting $41.75. 1,356,415 shares of the company traded hands, compared to its average volume of 730,227. The firm has a market cap of $4.12 billion, a P/E ratio of 25.30, a PEG ratio of 0.76 and a beta of 0.64. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.91 and a current ratio of 0.79. The firm's 50 day simple moving average is $46.98 and its 200 day simple moving average is $49.59. Sonoco Products has a 52-week low of $40.79 and a 52-week high of $61.73.

Sonoco Products (NYSE:SON - Get Free Report) last announced its earnings results on Tuesday, February 18th. The industrial products company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.01). Sonoco Products had a return on equity of 20.81% and a net margin of 2.60%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.67 billion. On average, equities analysts anticipate that Sonoco Products will post 6.1 EPS for the current year.

Sonoco Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 26th were issued a $0.52 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $2.08 annualized dividend and a dividend yield of 4.98%. Sonoco Products's dividend payout ratio is currently 126.06%.

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.