Sonoco Products (NYSE:SON - Free Report) had its price objective reduced by Wells Fargo & Company from $52.00 to $50.00 in a research report report published on Monday morning,Benzinga reports. They currently have an underweight rating on the industrial products company's stock.
Several other equities research analysts have also issued reports on SON. Citigroup lifted their target price on shares of Sonoco Products from $62.00 to $63.00 and gave the company a "buy" rating in a research report on Wednesday, October 2nd. Truist Financial boosted their price target on shares of Sonoco Products from $63.00 to $68.00 and gave the stock a "buy" rating in a research note on Monday. Finally, Robert W. Baird lowered their target price 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Sonoco Products has an average rating of "Moderate Buy" and a consensus price target of $60.17.
View Our Latest Analysis on SON
Sonoco Products Price Performance
Shares of SON stock traded down $0.73 during trading hours on Monday, reaching $47.22. The stock had a trading volume of 1,153,325 shares, compared to its average volume of 850,775. The stock's fifty day simple moving average is $50.68 and its 200 day simple moving average is $51.95. The firm has a market capitalization of $4.64 billion, a PE ratio of 16.23, a PEG ratio of 2.14 and a beta of 0.68. Sonoco Products has a 12 month low of $47.18 and a 12 month high of $61.73. 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 (NYSE:SON - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.45 by $0.04. Sonoco Products had a net margin of 4.38% and a return on equity of 19.92%. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period last year, the firm earned $1.46 EPS. The business's quarterly revenue was down 2.0% compared to the same quarter last year. On average, equities research analysts predict that Sonoco Products will post 5.09 EPS for the current year.
Sonoco Products Dividend Announcement
The firm also recently announced 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. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.40%. Sonoco Products's dividend payout ratio is presently 71.48%.
Institutional Trading of Sonoco Products
Large investors have recently added to or reduced their stakes in the stock. Nordea Investment Management AB boosted its stake in shares of Sonoco Products by 63.2% during the 4th quarter. Nordea Investment Management AB now owns 1,129,133 shares of the industrial products company's stock valued at $55,181,000 after purchasing an additional 437,128 shares in the last quarter. GAMMA Investing LLC boosted its position in Sonoco Products by 33.8% during the 4th quarter. GAMMA Investing LLC now owns 3,158 shares of the industrial products company's stock valued at $154,000 after acquiring an additional 798 shares in the last quarter. Trust Co of the South grew its holdings in shares of Sonoco Products by 11.4% during the 4th quarter. Trust Co of the South now owns 16,248 shares of the industrial products company's stock worth $794,000 after acquiring an additional 1,658 shares during the period. Franklin Resources Inc. raised its position in shares of Sonoco Products by 110.4% in the 3rd quarter. Franklin Resources Inc. now owns 73,501 shares of the industrial products company's stock worth $4,018,000 after acquiring an additional 38,564 shares in the last quarter. Finally, Tidal Investments LLC boosted its position in shares of Sonoco Products by 36.0% during the third quarter. Tidal Investments LLC now owns 25,941 shares of the industrial products company's stock valued at $1,417,000 after purchasing an additional 6,869 shares in the last quarter. Institutional investors own 77.69% of the company's stock.
Sonoco Products Company Profile
(
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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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