Citigroup Issues Positive Forecast for Sonoco Products (NYSE:SON) Stock Price

Sonoco Products (NYSE:SON) had its target price upped by equities research analysts at Citigroup from $63.00 to $66.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Citigroup’s target price suggests a potential upside of 18.63% from the company’s current price.

Several other brokerages have also recently commented on SON. Argus upgraded Sonoco Products to a “hold” rating in a report on Monday, April 20th. Deutsche Bank Aktiengesellschaft started coverage on shares of Sonoco Products in a research report on Wednesday, April 1st. They issued a “buy” rating and a $63.00 price target on the stock. Robert W. Baird reduced their price objective 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. Wall Street Zen cut shares of Sonoco Products from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Truist Financial reissued a “buy” rating and set a $65.00 target price (down from $68.00) on shares of Sonoco Products in a research note on Tuesday, April 28th. Five equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Sonoco Products currently has a consensus rating of “Hold” and a consensus price target of $60.44.

Sonoco Products Price Performance

Shares of NYSE:SON traded up $1.01 during trading on Thursday, hitting $55.64. 233,306 shares of the company were exchanged, compared to its average volume of 1,175,981. Sonoco Products has a 1-year low of $38.65 and a 1-year high of $58.44. The company has a market capitalization of $5.50 billion, a P/E ratio of 5.46, a price-to-earnings-growth ratio of 1.19 and a beta of 0.37. The company has a quick ratio of 0.54, a current ratio of 0.96 and a debt-to-equity ratio of 0.97. The business’s 50 day moving average is $50.94 and its 200-day moving average is $51.08.

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

Insider Activity

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

Institutional Trading of Sonoco Products

Hedge funds have recently bought and sold shares of the business. SBI Securities Co. Ltd. grew its stake in Sonoco Products by 77.7% in the 4th quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 258 shares during the period. LRI Investments LLC purchased a new position in shares of Sonoco Products in the 4th quarter worth about $29,000. WPG Advisers LLC boosted its holdings in shares of Sonoco Products by 93.1% in the 1st quarter. WPG Advisers LLC now owns 612 shares of the industrial products company’s stock worth $33,000 after buying an additional 295 shares during the last quarter. Larson Financial Group LLC increased its holdings in Sonoco Products by 1,826.9% during the third quarter. Larson Financial Group LLC now owns 1,002 shares of the industrial products company’s stock worth $43,000 after buying an additional 950 shares during the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new stake in Sonoco Products during the fourth quarter worth about $47,000. 77.69% of the stock is currently owned by institutional investors.

Sonoco Products Company Profile

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.