Sonoco Products (NYSE:SON) Receives $59.00 Consensus PT from Analysts

Shares of Sonoco Products (NYSE:SON - Get Free Report) have been assigned a consensus recommendation of "Hold" from the five brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $59.00.

Several research firms have commented on SON. Citigroup upped their price target on shares of Sonoco Products from $62.00 to $63.00 and gave the company a "buy" rating in a report on Wednesday, October 2nd. Truist Financial initiated coverage on Sonoco Products in a report on Tuesday, November 26th. They set a "buy" rating and a $63.00 target price on the stock. Finally, Robert W. Baird decreased their price target on Sonoco Products from $58.00 to $55.00 and set a "neutral" rating for the company in a report on Monday, November 4th.

Sonoco Products Stock Performance

Shares of NYSE:SON traded down $0.03 on Tuesday, hitting $49.53. 257,291 shares of the company were exchanged, compared to its average volume of 625,141. The firm has a market capitalization of $4.87 billion, a P/E ratio of 17.02, a price-to-earnings-growth ratio of 2.14 and a beta of 0.67. The company has a current ratio of 2.36, a quick ratio of 1.91 and a debt-to-equity ratio of 1.74. Sonoco Products has a 1-year low of $48.22 and a 1-year high of $61.73. The stock's 50 day moving average price is $51.37 and its 200 day moving average price is $52.46.

Sonoco Products (NYSE:SON - Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.72 billion. Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. The firm's revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.46 EPS. Sell-side analysts predict that Sonoco Products will post 5.09 EPS for the current year.

Sonoco Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.20%. Sonoco Products's dividend payout ratio is currently 71.48%.

Institutional Investors Weigh In On Sonoco Products

Institutional investors have recently added to or reduced their stakes in the stock. Earnest Partners LLC boosted its holdings in Sonoco Products by 2.5% in the 2nd quarter. Earnest Partners LLC now owns 2,645,744 shares of the industrial products company's stock worth $134,192,000 after buying an additional 64,915 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Sonoco Products by 11.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,631,259 shares of the industrial products company's stock valued at $133,465,000 after acquiring an additional 261,062 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Sonoco Products by 2.4% in the second quarter. Victory Capital Management Inc. now owns 2,195,155 shares of the industrial products company's stock worth $111,338,000 after acquiring an additional 50,577 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Sonoco Products by 13,464.6% during the second quarter. Pacer Advisors Inc. now owns 1,980,297 shares of the industrial products company's stock worth $100,441,000 after purchasing an additional 1,965,698 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Sonoco Products by 2.3% in the 3rd 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 last quarter. Institutional investors and hedge funds own 77.69% of the company's stock.

About Sonoco Products

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.