Sonoco Products Company (NYSE:SON) Given Average Recommendation of “Hold” by Brokerages

Sonoco Products Company (NYSE:SON) has been given a consensus rating of “Hold” by the twelve analysts that are covering the stock, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $60.1111.

A number of brokerages have recently weighed in on SON. Raymond James Financial reaffirmed a “market perform” rating on shares of Sonoco Products in a research note on Friday, March 6th. UBS Group cut their price target on shares of Sonoco Products from $62.00 to $59.00 and set a “neutral” rating on the stock in a research note on Friday, April 10th. Robert W. Baird cut their target price on shares of Sonoco Products from $60.00 to $55.00 and set a “neutral” rating on the stock in a research note on Thursday, April 23rd. Citigroup dropped their price target on shares of Sonoco Products from $70.00 to $63.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Finally, Truist Financial reaffirmed a “buy” rating and set a $65.00 price objective (down from $68.00) on shares of Sonoco Products in a research report on Tuesday, April 28th.

Insider Transactions at Sonoco Products

In related news, CFO Paul Joachimczyk acquired 8,058 shares of the stock in a transaction dated Friday, April 24th. The stock was acquired at an average cost of $49.64 per share, with a total value of $399,999.12. Following the completion of the transaction, the chief financial officer owned 28,558 shares in the company, valued at $1,417,619.12. This represents a 39.31% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider James A. Harrell III acquired 6,753 shares of the company’s stock in a transaction on Monday, April 27th. The stock was purchased at an average cost of $50.37 per share, for a total transaction of $340,148.61. Following the completion of the transaction, the insider owned 10,070 shares in the company, valued at approximately $507,225.90. The trade was a 203.59% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.98% of the company’s stock.

Hedge Funds Weigh In On Sonoco Products

Institutional investors and hedge funds have recently modified their holdings of the company. SBI Securities Co. Ltd. grew its stake in shares of Sonoco Products by 77.7% during the fourth quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 258 shares in the last quarter. Cornerstone Planning Group LLC acquired a new position in shares of Sonoco Products during the third quarter worth $29,000. LRI Investments LLC acquired a new position in shares of Sonoco Products during the fourth quarter worth $29,000. WPG Advisers LLC lifted its position in Sonoco Products by 93.1% in the first quarter. WPG Advisers LLC now owns 612 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 295 shares during the last quarter. Finally, Ameriflex Group Inc. increased its position in shares of Sonoco Products by 1,263.6% during the third quarter. Ameriflex Group Inc. now owns 900 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 834 shares in the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.

Sonoco Products Trading Down 0.8%

Shares of SON stock opened at $47.45 on Tuesday. The company has a 50-day moving average of $51.46 and a two-hundred day moving average of $49.19. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.96 and a quick ratio of 0.54. Sonoco Products has a 1-year low of $38.65 and a 1-year high of $58.44. The firm has a market cap of $4.69 billion, a PE ratio of 4.65, a price-to-earnings-growth ratio of 1.00 and a beta of 0.39.

Sonoco Products (NYSE:SON) last posted its earnings results on Tuesday, April 21st. The industrial products company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.37). Sonoco Products had a net margin of 13.57% and a return on equity of 16.50%. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the business posted $1.38 EPS. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. On average, analysts predict that Sonoco Products will post 5.81 EPS for the current year.

Sonoco Products Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th will be given a dividend of $0.54 per share. This is a boost from Sonoco Products’s previous quarterly dividend of $0.53. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, May 8th. Sonoco Products’s dividend payout ratio is presently 21.18%.

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.