Sonoco Products Company (NYSE:SON) has been assigned a consensus recommendation of “Hold” from the ten research firms that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $52.57.
Several equities analysts recently issued reports on SON shares. Barclays PLC reaffirmed an “overweight” rating on shares of Sonoco Products in a research report on Friday, April 14th. DA Davidson raised Sonoco Products from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $48.00 to $54.00 in a research report on Friday, April 21st. Jefferies Group LLC reaffirmed a “hold” rating and issued a $48.00 price objective (up from $47.00) on shares of Sonoco Products in a research report on Sunday, April 23rd. BidaskClub raised Sonoco Products from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Finally, Zacks Investment Research cut Sonoco Products from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st.
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Several institutional investors have recently added to or reduced their stakes in the stock. Pictet Asset Management Ltd. purchased a new position in Sonoco Products during the first quarter valued at $106,000. IFP Advisors Inc boosted its position in Sonoco Products by 13.2% in the first quarter. IFP Advisors Inc now owns 2,077 shares of the industrial products company’s stock valued at $110,000 after buying an additional 242 shares during the last quarter. Cranbrook Wealth Management LLC boosted its position in Sonoco Products by 445.4% in the first quarter. Cranbrook Wealth Management LLC now owns 2,449 shares of the industrial products company’s stock valued at $130,000 after buying an additional 2,000 shares during the last quarter. Meadow Creek Investment Management LLC boosted its position in Sonoco Products by 11.5% in the first quarter. Meadow Creek Investment Management LLC now owns 3,264 shares of the industrial products company’s stock valued at $173,000 after buying an additional 336 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Sonoco Products by 18.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,752 shares of the industrial products company’s stock valued at $193,000 after buying an additional 589 shares during the last quarter. 73.92% of the stock is currently owned by hedge funds and other institutional investors.
Sonoco Products (SON) traded down 0.49% on Tuesday, hitting $49.03. The stock had a trading volume of 222,682 shares. The company has a market cap of $4.94 billion, a P/E ratio of 18.61 and a beta of 1.12. The stock has a 50 day moving average price of $50.86 and a 200 day moving average price of $52.22. Sonoco Products has a 1-year low of $48.41 and a 1-year high of $55.58.
Sonoco Products (NYSE:SON) last released its quarterly earnings data on Thursday, July 20th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.71. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Sonoco Products had a return on equity of 16.64% and a net margin of 5.61%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.73 EPS. On average, equities research analysts expect that Sonoco Products will post $2.75 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 11th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $1.56 annualized dividend and a dividend yield of 3.17%. Sonoco Products’s payout ratio is 59.09%.
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.
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