Sonoco Products (NYSE:SON) Given New $60.00 Price Target at Robert W. Baird

Sonoco Products (NYSE:SON) had its target price raised by Robert W. Baird from $48.00 to $60.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. Robert W. Baird’s price target indicates a potential upside of 5.82% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on SON. Raymond James Financial set a $60.00 target price on Sonoco Products in a report on Monday, January 5th. Jefferies Financial Group dropped their target price on Sonoco Products from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Wells Fargo & Company restated an “equal weight” rating and set a $47.00 price target (down previously from $52.00) on shares of Sonoco Products in a report on Tuesday, January 6th. Wall Street Zen raised Sonoco Products from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Finally, Bank of America raised Sonoco Products from a “neutral” rating to a “buy” rating and raised their price target for the company from $56.00 to $60.00 in a research report on Monday, January 5th. Four analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $55.50.

Sonoco Products Trading Up 9.7%

NYSE:SON opened at $56.70 on Wednesday. The business has a 50 day simple moving average of $47.01 and a 200 day simple moving average of $44.56. The firm has a market capitalization of $5.59 billion, a P/E ratio of 9.00, a P/E/G ratio of 0.80 and a beta of 0.54. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.92 and a quick ratio of 0.58. Sonoco Products has a 12-month low of $38.65 and a 12-month high of $57.83.

Sonoco Products (NYSE:SON) last posted its earnings results on Monday, February 16th. The industrial products company reported $1.05 EPS for the quarter, topping the consensus estimate of $1.01 by $0.04. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Sonoco Products had a net margin of 8.82% and a return on equity of 20.49%. Sonoco Products’s quarterly revenue was up 29.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.17 EPS. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. Equities research analysts predict that Sonoco Products will post 6.1 EPS for the current year.

Institutional Trading of Sonoco Products

Several institutional investors and hedge funds have recently bought and sold shares of SON. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Sonoco Products by 44.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,093 shares of the industrial products company’s stock worth $2,319,000 after purchasing an additional 15,079 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Sonoco Products by 80.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 206,493 shares of the industrial products company’s stock valued at $9,755,000 after acquiring an additional 92,286 shares during the period. Empowered Funds LLC increased its position in Sonoco Products by 14.1% in the 1st quarter. Empowered Funds LLC now owns 11,058 shares of the industrial products company’s stock valued at $522,000 after acquiring an additional 1,364 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Sonoco Products by 87.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 545,179 shares of the industrial products company’s stock worth $25,754,000 after purchasing an additional 255,055 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in Sonoco Products by 122.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,665 shares of the industrial products company’s stock valued at $421,000 after purchasing an additional 5,320 shares during the period. Institutional investors own 77.69% of the company’s stock.

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.