Sonoco Products (NYSE:SON) Receives $59.00 Average Target Price from Brokerages

Shares of Sonoco Products (NYSE:SON) have earned a consensus recommendation of “Hold” from the five research firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $59.00.

A number of equities analysts have recently weighed in on SON shares. Robert W. Baird dropped their target price on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Truist Financial started coverage on Sonoco Products in a report on Tuesday, November 26th. They issued a “buy” rating and a $63.00 target price on the stock. Citigroup upped their target price on Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company downgraded Sonoco Products from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $54.00 to $52.00 in a report on Wednesday, August 21st.

Hedge Funds Weigh In On Sonoco Products

A number of hedge funds have recently added to or reduced their stakes in SON. Mercer Global Advisors Inc. ADV grew its holdings in Sonoco Products by 2.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 8,862 shares of the industrial products company’s stock valued at $445,000 after purchasing an additional 237 shares during the last quarter. Creative Financial Designs Inc. ADV grew its holdings in Sonoco Products by 13.9% during the third quarter. Creative Financial Designs Inc. ADV now owns 2,373 shares of the industrial products company’s stock valued at $130,000 after purchasing an additional 289 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Sonoco Products by 1.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,765 shares of the industrial products company’s stock valued at $1,002,000 after purchasing an additional 298 shares during the last quarter. TD Asset Management Inc grew its holdings in Sonoco Products by 2.0% during the second quarter. TD Asset Management Inc now owns 15,200 shares of the industrial products company’s stock valued at $771,000 after purchasing an additional 300 shares during the last quarter. Finally, Curi RMB Capital LLC grew its holdings in Sonoco Products by 2.4% during the third quarter. Curi RMB Capital LLC now owns 12,979 shares of the industrial products company’s stock valued at $709,000 after purchasing an additional 304 shares during the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.

Sonoco Products Price Performance

SON stock opened at $50.94 on Friday. 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 one year low of $48.22 and a one year high of $61.73. The firm has a market capitalization of $5.01 billion, a PE ratio of 17.75, a P/E/G ratio of 2.15 and a beta of 0.67. The firm has a 50-day moving average of $52.25 and a two-hundred day moving average of $53.48.

Sonoco Products (NYSE:SON) last issued its 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 company 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 firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.46 EPS. On average, analysts forecast that Sonoco Products will post 5.09 earnings per share for the current year.

Sonoco Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be issued a $0.52 dividend. The ex-dividend date is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.08%. Sonoco Products’s dividend payout ratio is currently 71.48%.

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.