UBS Group Cuts Sonoco Products (NYSE:SON) Price Target to $51.00

Sonoco Products (NYSE:SON) had its price target cut by UBS Group from $61.00 to $51.00 in a research note released on Monday morning,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

SON has been the topic of a number of other research reports. Truist Financial boosted their price objective on shares of Sonoco Products from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Citigroup raised their target price on shares of Sonoco Products from $63.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Bank of America lowered shares of Sonoco Products from a “buy” rating to a “neutral” rating and lowered their price target for the company from $69.00 to $60.00 in a research note on Thursday, September 3rd. Finally, Weiss Ratings cut shares of Sonoco Products from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, September 11th. Four research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $59.89.

Sonoco Products Stock Down 0.3%

NYSE:SON opened at $47.90 on Monday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.55 and a current ratio of 0.99. The company has a market cap of $4.74 billion, a PE ratio of 7.61, a PEG ratio of 1.20 and a beta of 0.35. Sonoco Products has a 52-week low of $38.65 and a 52-week high of $60.67. The stock has a 50-day simple moving average of $53.32 and a 200 day simple moving average of $52.85.

Sonoco Products (NYSE:SON) last announced its earnings results on Wednesday, July 22nd. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.04. Sonoco Products had a return on equity of 16.50% and a net margin of 8.41%.The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the firm earned $1.37 EPS. Sonoco Products’s revenue for the quarter was down 1.3% compared to the same quarter last year. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. On average, sell-side analysts expect that Sonoco Products will post 5.75 EPS for the current fiscal year.

Sonoco Products Dividend Announcement

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

Hedge Funds Weigh In On Sonoco Products

A number of hedge funds and other institutional investors have recently bought and sold shares of SON. Elevation Wealth Partners LLC increased its position in Sonoco Products by 271.9% during the third quarter. Elevation Wealth Partners LLC now owns 1,127 shares of the industrial products company’s stock worth $55,000 after buying an additional 824 shares during the last quarter. CX Institutional bought a new position in shares of Sonoco Products during the 3rd quarter worth approximately $98,000. Versant Capital Management Inc increased its holdings in shares of Sonoco Products by 54.9% during the 3rd quarter. Versant Capital Management Inc now owns 2,859 shares of the industrial products company’s stock worth $140,000 after acquiring an additional 1,013 shares during the last quarter. Integrated Wealth Concepts LLC increased its holdings in shares of Sonoco Products by 34.4% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 17,580 shares of the industrial products company’s stock worth $991,000 after acquiring an additional 4,500 shares during the last quarter. Finally, IFP Advisors Inc raised its stake in Sonoco Products by 392.7% in the 2nd quarter. IFP Advisors Inc now owns 9,717 shares of the industrial products company’s stock valued at $548,000 after acquiring an additional 7,745 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 packaging company headquartered in Hartsville, South Carolina. Founded in 1899 as the Southern Novelty Company, Sonoco has developed into a diversified provider of packaging products and services for consumer and industrial markets.

The company produces consumer packaging such as rigid paper and plastic containers, metal cans, flexible packaging, thermoformed packaging, closures, and packaging displays. Its industrial packaging activities include paper tubes and cores, protective packaging, molded foam products, pallets, and other materials used to protect, store, and transport goods.