Sonoco Products Co (NYSE:SON) announced a quarterly dividend on Wednesday, February 14th, RTT News reports. Investors of record on Wednesday, February 28th will be paid a dividend of 0.39 per share by the industrial products company on Friday, March 9th. This represents a $1.56 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Tuesday, February 27th.
Sonoco Products has increased its dividend by an average of 6.6% per year over the last three years and has increased its dividend every year for the last 37 years. Sonoco Products has a payout ratio of 55.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Sonoco Products to earn $3.45 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 45.2%.
Shares of Sonoco Products (SON) opened at $48.59 on Thursday. The firm has a market cap of $4,883.57, a P/E ratio of 17.67, a P/E/G ratio of 3.30 and a beta of 1.12. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.56 and a quick ratio of 1.09. Sonoco Products has a one year low of $47.10 and a one year high of $55.77.
A number of equities research analysts recently weighed in on the stock. TheStreet downgraded shares of Sonoco Products from a “b” rating to a “c+” rating in a research note on Friday, February 16th. Zacks Investment Research downgraded shares of Sonoco Products from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Barclays raised shares of Sonoco Products from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $49.00 to $55.00 in a research note on Friday, December 15th. Robert W. Baird reissued a “buy” rating and set a $60.00 price target on shares of Sonoco Products in a research note on Friday, November 10th. Finally, KeyCorp reissued a “hold” rating on shares of Sonoco Products in a research note on Sunday, December 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $53.43.
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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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