Sonoco Products Company (NYSE:SON) Given Average Rating of “Moderate Buy” by Brokerages

Sonoco Products Company (NYSE:SON) has earned a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $57.6250.

Several equities research analysts recently weighed in on SON shares. UBS Group lifted their price objective on Sonoco Products from $48.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Citigroup decreased their price objective on Sonoco Products from $56.00 to $55.00 and set a “buy” rating for the company in a report on Monday. Raymond James Financial lifted their price objective on Sonoco Products from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Tuesday, July 15th. Finally, Truist Financial lifted their price objective on Sonoco Products from $53.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, July 25th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC grew its holdings in shares of Sonoco Products by 22.4% during the second quarter. Corient Private Wealth LLC now owns 16,652 shares of the industrial products company’s stock worth $718,000 after purchasing an additional 3,047 shares in the last quarter. Caldwell Trust Co purchased a new position in shares of Sonoco Products during the second quarter worth about $102,000. Osaic Holdings Inc. grew its holdings in shares of Sonoco Products by 170.6% during the second quarter. Osaic Holdings Inc. now owns 37,545 shares of the industrial products company’s stock worth $1,717,000 after purchasing an additional 23,669 shares in the last quarter. Orion Porfolio Solutions LLC grew its holdings in shares of Sonoco Products by 28.1% during the second quarter. Orion Porfolio Solutions LLC now owns 9,613 shares of the industrial products company’s stock worth $419,000 after purchasing an additional 2,111 shares in the last quarter. Finally, Hudson Bay Capital Management LP grew its holdings in shares of Sonoco Products by 250.4% during the second quarter. Hudson Bay Capital Management LP now owns 70,087 shares of the industrial products company’s stock worth $3,053,000 after purchasing an additional 50,087 shares in the last quarter. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Sonoco Products Trading Down 2.7%

NYSE SON opened at $42.73 on Thursday. The stock has a market capitalization of $4.21 billion, a price-to-earnings ratio of 7.66, a PEG ratio of 0.59 and a beta of 0.70. Sonoco Products has a one year low of $39.46 and a one year high of $55.33. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.25 and a quick ratio of 0.72. The business’s fifty day moving average is $46.26 and its 200-day moving average is $45.57.

Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $1.37 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.07). Sonoco Products had a return on equity of 20.46% and a net margin of 8.35%.The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same period last year, the business posted $1.28 EPS. The company’s revenue was up 17.7% compared to the same quarter last year. Sonoco Products has set its FY 2025 guidance at 6.000-6.2 EPS. Equities research analysts predict that Sonoco Products will post 6.1 EPS for the current year.

Sonoco Products Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend was Friday, August 8th. Sonoco Products’s payout ratio is presently 37.99%.

About Sonoco Products

Sonoco Products Company, together with its subsidiaries, designs, develops, manufactures, and sells various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates Consumer Packaging and Industrial Paper Packaging segments. The Consumer Packaging segment offers round and shaped rigid paper, steel, and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays and enclosures; and high-barrier flexible packaging products.