Sonoco Products (NYSE:SON) Receives $58.50 Consensus Target Price from Analysts

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

SON has been the subject of several recent research reports. Wells Fargo & Company dropped their price target on shares of Sonoco Products from $50.00 to $48.00 and set an "underweight" rating for the company in a research report on Monday, February 24th. StockNews.com raised shares of Sonoco Products from a "sell" rating to a "hold" rating in a research report on Wednesday. Truist Financial dropped their price target on shares of Sonoco Products from $68.00 to $60.00 and set a "buy" rating for the company in a research report on Friday, February 21st. Bank of America increased 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. Finally, Citigroup dropped their price target 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.

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Sonoco Products Stock Performance

Shares of SON traded up $0.90 during trading hours on Friday, reaching $47.80. 652,987 shares of the company traded hands, compared to its average volume of 820,334. The stock's fifty day moving average is $47.57 and its 200 day moving average is $50.83. The stock has a market cap of $4.70 billion, a P/E ratio of 28.97, a price-to-earnings-growth ratio of 0.76 and a beta of 0.61. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.91 and a current ratio of 0.79. Sonoco Products has a 1-year low of $44.35 and a 1-year high of $61.73.

Sonoco Products (NYSE:SON - Get Free Report) last announced 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 company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.67 billion. Sonoco Products had a net margin of 2.60% and a return on equity of 20.81%. Equities research analysts anticipate that Sonoco Products will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 26th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $2.08 annualized dividend and a yield of 4.35%. Sonoco Products's dividend payout ratio is 126.06%.

Insider Activity

In related news, Director Robert R. Hill, Jr. sold 4,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $47.95, for a total value of $191,800.00. Following the transaction, the director now directly owns 16,065 shares in the company, valued at $770,316.75. This represents a 19.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John R. Haley acquired 3,000 shares of the business's stock in a transaction that occurred 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 acquisition, the director now directly owns 18,558 shares of the company's stock, valued at $867,772.08. This trade represents a 19.28 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.51% of the stock is owned by insiders.

Institutional Investors Weigh In On Sonoco Products

Several hedge funds have recently bought and sold shares of SON. Kennebec Savings Bank bought a new position in Sonoco Products in the third quarter valued at $27,000. Capital Performance Advisors LLP bought a new position in Sonoco Products in the third quarter valued at $33,000. Quarry LP grew its position in Sonoco Products by 111.3% in the fourth quarter. Quarry LP now owns 970 shares of the industrial products company's stock valued at $47,000 after purchasing an additional 511 shares in the last quarter. Colonial Trust Co SC grew its position in Sonoco Products by 90.6% in the fourth quarter. Colonial Trust Co SC now owns 953 shares of the industrial products company's stock valued at $47,000 after purchasing an additional 453 shares in the last quarter. Finally, True Wealth Design LLC grew its position in Sonoco Products by 650.7% in the fourth quarter. True Wealth Design LLC now owns 1,096 shares of the industrial products company's stock valued at $54,000 after purchasing an additional 950 shares in the last quarter. 77.69% of the stock is currently owned by institutional investors and hedge funds.

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.