Sonoco Products (NYSE:SON) Hits New 12-Month High After Strong Earnings

Sonoco Products Company (NYSE:SON)’s stock price reached a new 52-week high during trading on Tuesday following a better than expected earnings announcement. The company traded as high as $57.27 and last traded at $57.1750, with a volume of 375892 shares. The stock had previously closed at $51.67.

The industrial products company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.04. Sonoco Products had a return on equity of 20.49% and a net margin of 8.82%.The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the business earned $1.17 EPS. The business’s quarterly revenue was up 29.7% on a year-over-year basis. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS.

Sonoco Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Wednesday, February 25th will be paid a dividend of $0.53 per share. The ex-dividend date is Wednesday, February 25th. This represents a $2.12 annualized dividend and a yield of 3.7%. Sonoco Products’s dividend payout ratio is 33.65%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Wall Street Zen upgraded Sonoco Products from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Truist Financial lifted their price objective on shares of Sonoco Products from $53.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Wells Fargo & Company restated an “equal weight” rating and issued a $47.00 target price (down previously from $52.00) on shares of Sonoco Products in a research report on Tuesday, January 6th. Bank of America raised Sonoco Products from a “neutral” rating to a “buy” rating and lifted their price target for the company from $56.00 to $60.00 in a report on Monday, January 5th. Finally, Zacks Research upgraded Sonoco Products from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Sonoco Products presently has a consensus rating of “Hold” and a consensus target price of $54.86.

Institutional Investors Weigh In On Sonoco Products

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Savant Capital LLC grew its position in Sonoco Products by 415.0% in the third quarter. Savant Capital LLC now owns 37,875 shares of the industrial products company’s stock worth $1,632,000 after acquiring an additional 30,520 shares in the last quarter. Allen Wealth Management LLC acquired a new stake in shares of Sonoco Products in the 3rd quarter valued at $1,489,000. AlphaQuest LLC boosted its holdings in Sonoco Products by 1,237.0% in the third quarter. AlphaQuest LLC now owns 24,079 shares of the industrial products company’s stock worth $1,038,000 after purchasing an additional 22,278 shares in the last quarter. Voya Investment Management LLC raised its holdings in Sonoco Products by 329.3% during the third quarter. Voya Investment Management LLC now owns 50,390 shares of the industrial products company’s stock valued at $2,171,000 after buying an additional 38,653 shares in the last quarter. Finally, Pacer Advisors Inc. acquired a new stake in shares of Sonoco Products in the third quarter worth about $560,000. 77.69% of the stock is currently owned by institutional investors.

Sonoco Products Stock Up 9.5%

The business has a 50-day simple moving average of $46.69 and a 200-day simple moving average of $44.47. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 1.14. The stock has a market cap of $5.58 billion, a P/E ratio of 8.93, a PEG ratio of 0.80 and a beta of 0.54.

About Sonoco Products

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.