Citigroup Issues Positive Forecast for Sonoco Products (NYSE:SON) Stock Price

Sonoco Products (NYSE:SON) had its price objective increased by equities researchers at Citigroup from $63.00 to $66.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Citigroup’s price target indicates a potential upside of 18.63% from the company’s current price.

A number of other analysts also recently issued reports on SON. Robert W. Baird dropped their price target on Sonoco Products from $60.00 to $55.00 and set a “neutral” rating for the company in a research report on Thursday, April 23rd. Truist Financial reaffirmed a “buy” rating and issued a $65.00 target price (down from $68.00) on shares of Sonoco Products in a research note on Tuesday, April 28th. Wall Street Zen lowered shares of Sonoco Products from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Argus raised shares of Sonoco Products to a “hold” rating in a research note on Monday, April 20th. Finally, Wells Fargo & Company decreased their price target on shares of Sonoco Products from $60.00 to $56.00 and set an “equal weight” rating on the stock in a report on Friday, March 20th. Five equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Sonoco Products currently has an average rating of “Hold” and an average price target of $60.44.

Sonoco Products Stock Performance

Shares of NYSE SON traded up $1.01 during trading on Thursday, reaching $55.64. 233,306 shares of the stock traded hands, compared to its average volume of 1,175,981. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.96 and a quick ratio of 0.54. The stock has a market capitalization of $5.50 billion, a P/E ratio of 5.46, a price-to-earnings-growth ratio of 1.19 and a beta of 0.37. Sonoco Products has a 52-week low of $38.65 and a 52-week high of $58.44. The company has a 50-day moving average of $50.94 and a 200-day moving average of $51.08.

Sonoco Products (NYSE:SON) last released its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.37). The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Sonoco Products had a net margin of 13.57% and a return on equity of 16.50%. Sonoco Products’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period last year, the company earned $1.38 earnings per share. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. Analysts forecast that Sonoco Products will post 5.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other Sonoco Products news, CFO Paul Joachimczyk purchased 8,058 shares of the stock in a transaction on Friday, April 24th. The stock was acquired at an average cost of $49.64 per share, with a total value of $399,999.12. Following the completion of the purchase, the chief financial officer directly owned 28,558 shares of the company’s stock, valued at approximately $1,417,619.12. This trade represents a 39.31% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider James A. Harrell III acquired 6,753 shares of Sonoco Products stock in a transaction dated Monday, April 27th. The shares were bought at an average cost of $50.37 per share, for a total transaction of $340,148.61. Following the completion of the purchase, the insider directly owned 10,070 shares of the company’s stock, valued at approximately $507,225.90. The trade was a 203.59% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.98% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sonoco Products

A number of hedge funds have recently modified their holdings of SON. SBI Securities Co. Ltd. boosted its holdings in shares of Sonoco Products by 77.7% during the fourth quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 258 shares during the period. LRI Investments LLC bought a new position in Sonoco Products during the 4th quarter valued at approximately $29,000. WPG Advisers LLC lifted its holdings in Sonoco Products by 93.1% in the 1st quarter. WPG Advisers LLC now owns 612 shares of the industrial products company’s stock worth $33,000 after buying an additional 295 shares during the period. Larson Financial Group LLC grew its position in shares of Sonoco Products by 1,826.9% in the 3rd quarter. Larson Financial Group LLC now owns 1,002 shares of the industrial products company’s stock worth $43,000 after buying an additional 950 shares during the last quarter. Finally, Cullen Frost Bankers Inc. bought a new stake in shares of Sonoco Products in the 4th quarter worth approximately $47,000. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Sonoco Products Company Profile

Sonoco Products Company (NYSE: SON) is a global provider of diversified packaging solutions, serving a wide range of consumer, industrial and retail markets. The company offers a broad portfolio that includes rigid paper and plastic containers, flexible packaging, industrial core and tube products, thermoformed plastics, retail point-of-purchase displays, and packaging supply chain services. Through its solutions, Sonoco helps customers in food and beverage, personal care, chemicals, healthcare, home and garden, and electronics industries address their packaging needs, improve product shelf appeal, and optimize logistics efficiency.

With operations in more than 30 countries across North America, South America, Europe, Asia and Africa, Sonoco leverages a global network of manufacturing facilities, recycling centers and distribution channels to meet the demands of multinational and regional customers.