BidaskClub lowered shares of Sonoco Products Company (NYSE:SON) from a sell rating to a strong sell rating in a research report report published on Thursday morning.

SON has been the topic of a number of other research reports. Bank of America Corporation raised their price target on Sonoco Products from $55.00 to $56.00 and gave the company an underperform rating in a research report on Friday, July 21st. Vertical Research downgraded Sonoco Products from a hold rating to a sell rating in a research report on Friday, July 21st. Barclays PLC restated an overweight rating on shares of Sonoco Products in a research report on Friday, April 14th. Jefferies Group LLC restated a neutral rating on shares of Sonoco Products in a research report on Wednesday, June 28th. Finally, Zacks Investment Research upgraded Sonoco Products from a hold rating to a buy rating and set a $57.00 price target on the stock in a research report on Thursday, June 22nd. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $53.83.

Shares of Sonoco Products (NYSE SON) traded down 0.27% during trading on Thursday, reaching $48.46. The company’s stock had a trading volume of 209,963 shares. Sonoco Products has a 12-month low of $48.43 and a 12-month high of $55.58. The stock’s 50-day moving average is $50.98 and its 200-day moving average is $52.34. The stock has a market cap of $4.88 billion, a P/E ratio of 18.40 and a beta of 1.14.

Sonoco Products (NYSE:SON) last released its quarterly earnings results on Thursday, July 20th. The industrial products company reported $0.71 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.71. Sonoco Products had a return on equity of 16.64% and a net margin of 5.61%. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter last year, the business posted $0.73 earnings per share. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. Equities research analysts anticipate that Sonoco Products will post $2.75 earnings per share for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 11th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $1.56 annualized dividend and a dividend yield of 3.21%. Sonoco Products’s dividend payout ratio is currently 59.09%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Speece Thorson Capital Group Inc. increased its position in Sonoco Products by 2.8% in the first quarter. Speece Thorson Capital Group Inc. now owns 286,119 shares of the industrial products company’s stock valued at $15,141,000 after buying an additional 7,831 shares in the last quarter. BTIM Corp. increased its position in Sonoco Products by 42.1% in the first quarter. BTIM Corp. now owns 31,062 shares of the industrial products company’s stock valued at $1,644,000 after buying an additional 9,200 shares in the last quarter. Nationwide Fund Advisors increased its position in Sonoco Products by 0.7% in the first quarter. Nationwide Fund Advisors now owns 213,339 shares of the industrial products company’s stock valued at $11,290,000 after buying an additional 1,461 shares in the last quarter. State of Alaska Department of Revenue increased its position in Sonoco Products by 2.6% in the first quarter. State of Alaska Department of Revenue now owns 8,380 shares of the industrial products company’s stock valued at $443,000 after buying an additional 210 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in Sonoco Products by 6.1% in the first quarter. Nisa Investment Advisors LLC now owns 40,040 shares of the industrial products company’s stock valued at $2,119,000 after buying an additional 2,300 shares in the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Sonoco Products Company Profile

Sonoco Products Company is engaged in manufacturing of industrial and consumer packaging products, and providing packaging services. The Company operates in four segments: Consumer Packaging, Paper and Industrial Converted Products, Display and Packaging, and Protective Solutions. Its Consumer Packaging segment’s products and services include round composite cans, aluminum, steel and peelable membrane easy-open closures for composite and metal cans; plastic bottles, cups and trays, and printed flexible packaging and global brand management.

Analyst Recommendations for Sonoco Products (NYSE:SON)

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