Analysts Set Sonoco Products Company (NYSE:SON) Price Target at $60.78

Shares of Sonoco Products Company (NYSE:SON) have been given an average recommendation of “Hold” by the twelve ratings firms that are currently covering the firm, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $60.7778.

A number of research analysts have recently issued reports on SON shares. Weiss Ratings cut shares of Sonoco Products from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. Bank of America downgraded Sonoco Products from a “buy” rating to a “neutral” rating and cut their price target for the company from $69.00 to $60.00 in a research note on Thursday, September 3rd. Citigroup increased their price objective on Sonoco Products from $63.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Finally, Truist Financial lifted their target price on Sonoco Products from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, July 24th.

Sonoco Products Trading Up 1.0%

Shares of Sonoco Products stock opened at $48.33 on Thursday. The stock has a market capitalization of $4.78 billion, a PE ratio of 7.68, a price-to-earnings-growth ratio of 1.19 and a beta of 0.36. Sonoco Products has a 52 week low of $38.65 and a 52 week high of $60.67. The stock has a 50 day moving average price of $55.68 and a two-hundred day moving average price of $53.45. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.55 and a current ratio of 0.99.

Sonoco Products (NYSE:SON) last issued its earnings results on Wednesday, July 22nd. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.04. Sonoco Products had a return on equity of 16.50% and a net margin of 8.41%.The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period last year, the business earned $1.37 EPS. Sonoco Products’s quarterly revenue was down 1.3% compared to the same quarter last year. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. As a group, equities analysts anticipate that Sonoco Products will post 5.78 earnings per share for the current fiscal year.

Sonoco Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Monday, August 10th were issued a dividend of $0.54 per share. The ex-dividend date was Monday, August 10th. This represents a $2.16 annualized dividend and a yield of 4.5%. Sonoco Products’s payout ratio is 34.34%.

Institutional Trading of Sonoco Products

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new position in Sonoco Products during the second quarter worth about $657,016,000. LSV Asset Management raised its position in shares of Sonoco Products by 95.7% in the fourth quarter. LSV Asset Management now owns 1,563,390 shares of the industrial products company’s stock valued at $68,226,000 after purchasing an additional 764,590 shares during the period. UBS Group AG lifted its stake in shares of Sonoco Products by 57.8% during the 4th quarter. UBS Group AG now owns 303,784 shares of the industrial products company’s stock valued at $13,257,000 after buying an additional 111,295 shares in the last quarter. Natixis Advisors LLC boosted its holdings in Sonoco Products by 18.6% in the 4th quarter. Natixis Advisors LLC now owns 326,547 shares of the industrial products company’s stock worth $14,251,000 after buying an additional 51,273 shares during the period. Finally, Thompson Siegel & Walmsley LLC purchased a new position in Sonoco Products in the 4th quarter valued at approximately $7,774,000. 77.69% of the stock is owned by hedge funds and other institutional investors.

Sonoco Products Company Profile

Sonoco Products Company is a diversified packaging company headquartered in Hartsville, South Carolina. Founded in 1899 as the Southern Novelty Company, it adopted the Sonoco name in 1923. The company serves customers in the food, beverage, household, consumer, industrial and other markets.

Sonoco manufactures a broad range of packaging and related products, including paperboard cans and tubes, rigid plastic containers, flexible packaging, metal containers, closures, and protective packaging.