Sonoco Products Company (NYSE:SON) Announces $0.53 Quarterly Dividend

Sonoco Products Company (NYSE:SON) declared a quarterly dividend on Wednesday, February 11th. Shareholders of record on Wednesday, February 25th will be given a dividend of 0.53 per share by the industrial products company on Tuesday, March 10th. This represents a c) annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Wednesday, February 25th.

Sonoco Products has increased its dividend by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Sonoco Products has a payout ratio of 32.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Sonoco Products to earn $6.85 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 30.9%.

Sonoco Products Price Performance

Shares of NYSE:SON opened at $51.38 on Thursday. The company has a market capitalization of $5.07 billion, a PE ratio of 8.15, a price-to-earnings-growth ratio of 0.80 and a beta of 0.54. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.58 and a current ratio of 0.92. The stock has a fifty day moving average of $46.07 and a 200-day moving average of $44.38. Sonoco Products has a one year low of $38.65 and a one year high of $51.84.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on SON shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Sonoco Products in a research report on Wednesday, January 21st. Truist Financial upped their price objective on shares of Sonoco Products from $53.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $47.00 target price (down from $52.00) on shares of Sonoco Products in a report on Tuesday, January 6th. Jefferies Financial Group cut their price target on shares of Sonoco Products from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, October 24th. Finally, Zacks Research upgraded shares of Sonoco Products from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Sonoco Products currently has an average rating of “Hold” and a consensus target price of $54.86.

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.