Shares of Sonoco Products Co (NYSE:SON) have earned an average recommendation of “Hold” from the ten ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $55.40.
A number of equities research analysts have recently issued reports on the company. Zacks Investment Research lowered Sonoco Products from a “hold” rating to a “sell” rating in a research report on Monday, June 25th. TheStreet upgraded Sonoco Products from a “c+” rating to a “b” rating in a research report on Thursday, April 19th. Vertical Research lowered Sonoco Products from a “buy” rating to a “hold” rating in a research report on Friday, April 20th. KeyCorp restated a “hold” rating on shares of Sonoco Products in a research report on Thursday, April 19th. Finally, UBS Group assumed coverage on Sonoco Products in a research report on Friday, April 13th. They issued a “buy” rating and a $55.00 price target for the company.
In related news, VP Marcy J. Thompson sold 1,101 shares of the company’s stock in a transaction that occurred on Thursday, April 26th. The stock was sold at an average price of $53.00, for a total value of $58,353.00. Following the transaction, the vice president now directly owns 15,510 shares in the company, valued at $822,030. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Roger P. Schrum sold 1,067 shares of the company’s stock in a transaction that occurred on Tuesday, June 5th. The shares were sold at an average price of $53.00, for a total value of $56,551.00. Following the completion of the transaction, the vice president now owns 11,111 shares in the company, valued at $588,883. The disclosure for this sale can be found here. Insiders sold 24,699 shares of company stock worth $1,276,076 over the last quarter. 1.70% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SON. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Sonoco Products by 68.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,027 shares of the industrial products company’s stock valued at $161,000 after acquiring an additional 1,233 shares during the last quarter. Financial Gravity Companies Inc. acquired a new position in Sonoco Products in the fourth quarter valued at approximately $176,000. Financial Gravity Wealth Inc. acquired a new position in Sonoco Products in the first quarter valued at approximately $203,000. Dynamic Capital Management Ltd acquired a new position in Sonoco Products in the fourth quarter valued at approximately $215,000. Finally, Bbva Compass Bancshares Inc. acquired a new position in Sonoco Products in the fourth quarter valued at approximately $226,000. Hedge funds and other institutional investors own 69.43% of the company’s stock.
Shares of NYSE SON opened at $52.50 on Friday. Sonoco Products has a 52 week low of $46.55 and a 52 week high of $55.77. The company has a quick ratio of 1.16, a current ratio of 1.61 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of 18.82, a P/E/G ratio of 3.42 and a beta of 1.11.
Sonoco Products (NYSE:SON) last posted its quarterly earnings results on Thursday, April 19th. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.02. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. Sonoco Products had a return on equity of 17.02% and a net margin of 3.79%. The business’s revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.59 earnings per share. equities analysts forecast that Sonoco Products will post 3.29 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 8th. Investors of record on Friday, May 11th were issued a $0.41 dividend. The ex-dividend date was Thursday, May 10th. This is a boost from Sonoco Products’s previous quarterly dividend of $0.39. This represents a $1.64 dividend on an annualized basis and a yield of 3.12%. Sonoco Products’s dividend payout ratio is currently 58.78%.
About Sonoco Products
Sonoco Products Company manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through four segments: Consumer Packaging, Display and Packaging, Paper and Industrial Converted Products, and Protective Solutions. The Consumer Packaging segment offers composite and thermoformed plastic round and shaped rigid containers and trays; extruded and injection-molded plastic products; printed flexible packaging products; brand artwork management; and metal and peelable membrane ends and closures.
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