Sonoco Products (NYSE:SON) Price Target Raised to $48.00 at UBS Group

Sonoco Products (NYSE:SON) had its price objective boosted by UBS Group from $44.00 to $48.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. UBS Group’s price objective indicates a potential upside of 1.04% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Zacks Research upgraded Sonoco Products from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Truist Financial increased their target price on Sonoco Products from $53.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Citigroup reduced their price target on shares of Sonoco Products from $56.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, September 29th. Jefferies Financial Group lowered their price objective on shares of Sonoco Products from $61.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, October 24th. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $47.00 price target (down previously from $52.00) on shares of Sonoco Products in a report on Tuesday, January 6th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $54.86.

Sonoco Products Price Performance

Shares of NYSE SON traded up $0.16 during midday trading on Monday, reaching $47.51. The stock had a trading volume of 750,106 shares, compared to its average volume of 862,401. The company has a market capitalization of $4.69 billion, a price-to-earnings ratio of 7.54, a price-to-earnings-growth ratio of 0.73 and a beta of 0.55. Sonoco Products has a 12-month low of $38.65 and a 12-month high of $50.09. The stock has a 50-day moving average of $42.28 and a 200-day moving average of $43.91. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.58 and a current ratio of 0.92.

Sonoco Products (NYSE:SON) last issued its earnings results on Wednesday, June 22nd. The industrial products company reported $1.00 earnings per share (EPS) for the quarter. The company had revenue of $1.35 billion for the quarter. Sonoco Products had a return on equity of 20.49% and a net margin of 8.82%.Sonoco Products has set its FY 2025 guidance at 5.650-5.75 EPS. As a group, research analysts anticipate that Sonoco Products will post 6.1 EPS for the current fiscal year.

Insider Activity

In related news, Director John R. Haley bought 2,506 shares of the business’s stock in a transaction on Tuesday, October 28th. The shares were bought at an average price of $39.87 per share, for a total transaction of $99,914.22. Following the completion of the purchase, the director directly owned 23,310 shares of the company’s stock, valued at approximately $929,369.70. This trade represents a 12.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Paul Joachimczyk purchased 20,500 shares of the firm’s stock in a transaction on Wednesday, October 29th. The shares were purchased at an average cost of $39.50 per share, with a total value of $809,750.00. Following the completion of the transaction, the chief financial officer owned 20,500 shares of the company’s stock, valued at approximately $809,750. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.74% of the company’s stock.

Hedge Funds Weigh In On Sonoco Products

Hedge funds have recently modified their holdings of the stock. Allen Wealth Management LLC acquired a new position in shares of Sonoco Products in the 3rd quarter valued at $1,489,000. Voya Investment Management LLC increased its holdings in Sonoco Products by 329.3% in the third quarter. Voya Investment Management LLC now owns 50,390 shares of the industrial products company’s stock valued at $2,171,000 after buying an additional 38,653 shares in the last quarter. Pacer Advisors Inc. acquired a new position in shares of Sonoco Products in the third quarter worth about $560,000. Creative Planning raised its position in shares of Sonoco Products by 72.0% in the second quarter. Creative Planning now owns 24,636 shares of the industrial products company’s stock worth $1,073,000 after acquiring an additional 10,312 shares during the period. Finally, Oak Thistle LLC purchased a new stake in shares of Sonoco Products during the 3rd quarter worth about $1,278,000. Institutional investors and hedge funds own 77.69% of the company’s stock.

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.