Sonoco Products Company (NYSE:SON) Receives $60.78 Average PT from Brokerages

Shares of Sonoco Products Company (NYSE:SON) have earned a consensus recommendation of “Hold” from the twelve brokerages that are presently covering the stock, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $60.7778.

A number of research analysts have recently issued reports on SON shares. Truist Financial lifted their target price on shares of Sonoco Products from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Bank of America lowered Sonoco Products from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $69.00 to $60.00 in a research note on Thursday, September 3rd. Citigroup increased their target price on Sonoco Products from $63.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Finally, Weiss Ratings lowered shares of Sonoco Products from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday.

Hedge Funds Weigh In On Sonoco Products

Hedge funds have recently added to or reduced their stakes in the company. Baker Ellis Asset Management LLC lifted its stake in shares of Sonoco Products by 3.9% during the 1st quarter. Baker Ellis Asset Management LLC now owns 5,307 shares of the industrial products company’s stock worth $287,000 after purchasing an additional 201 shares during the period. Powell Investment Advisors LLC raised its position in shares of Sonoco Products by 1.0% during the 4th quarter. Powell Investment Advisors LLC now owns 20,718 shares of the industrial products company’s stock worth $904,000 after purchasing an additional 203 shares during the period. IFP Advisors Inc lifted its holdings in shares of Sonoco Products by 8.6% in the 4th quarter. IFP Advisors Inc now owns 2,996 shares of the industrial products company’s stock worth $131,000 after purchasing an additional 237 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Sonoco Products by 11.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,476 shares of the industrial products company’s stock valued at $134,000 after acquiring an additional 249 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its stake in Sonoco Products by 77.7% during the 4th quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 258 shares in the last quarter. Institutional investors own 77.69% of the company’s stock.

Sonoco Products Trading Down 1.3%

Shares of SON stock opened at $47.82 on Thursday. The firm has a fifty day moving average of $55.85 and a 200-day moving average of $53.54. The stock has a market cap of $4.73 billion, a price-to-earnings ratio of 7.60, a P/E/G ratio of 1.19 and a beta of 0.36. Sonoco Products has a 52-week low of $38.65 and a 52-week high of $60.67. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.55 and a current ratio of 0.99.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.04. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Sonoco Products had a net margin of 8.41% and a return on equity of 16.50%. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.37 earnings per share. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. On average, equities research analysts forecast that Sonoco Products will post 5.78 earnings per share for the current fiscal year.

Sonoco Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Monday, August 10th were given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 4.5%. The ex-dividend date was Monday, August 10th. Sonoco Products’s payout ratio is 34.34%.

Sonoco Products Company Profile

Sonoco Products Company is a diversified packaging company headquartered in Hartsville, South Carolina. Founded in 1899 as the Southern Novelty Company, it adopted the Sonoco name in 1923. The company serves customers in the food, beverage, household, consumer, industrial and other markets.

Sonoco manufactures a broad range of packaging and related products, including paperboard cans and tubes, rigid plastic containers, flexible packaging, metal containers, closures, and protective packaging.