Sonoco Products Co (NYSE:SON) has received an average recommendation of “Hold” from the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $56.17.
SON has been the subject of several research analyst reports. Zacks Investment Research lowered Sonoco Products from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. Barclays raised their target price on Sonoco Products from $55.00 to $58.00 and gave the company a “$56.02” rating in a research report on Monday, July 23rd. Finally, DA Davidson raised their target price on Sonoco Products to $57.00 and gave the company a “neutral” rating in a research report on Friday, July 20th.
In other news, SVP Kevin P. Mahoney sold 1,138 shares of the stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $56.11, for a total transaction of $63,853.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Roger P. Schrum sold 1,067 shares of the stock in a transaction on Tuesday, June 5th. The stock was sold at an average price of $53.00, for a total value of $56,551.00. Following the transaction, the vice president now owns 11,111 shares of the company’s stock, valued at approximately $588,883. The disclosure for this sale can be found here. Insiders have sold a total of 31,200 shares of company stock valued at $1,726,520 in the last quarter. 1.70% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of SON. Itau Unibanco Holding S.A. bought a new position in shares of Sonoco Products during the 2nd quarter worth $183,000. UMB Bank N A MO bought a new position in Sonoco Products in the 2nd quarter worth about $201,000. Dividend Assets Capital LLC bought a new position in Sonoco Products in the 2nd quarter worth about $201,000. Financial Gravity Wealth Inc. bought a new position in Sonoco Products in the 1st quarter worth about $203,000. Finally, KC Investment Advisors LLC bought a new position in Sonoco Products in the 2nd quarter worth about $207,000. Institutional investors own 69.80% of the company’s stock.
Shares of Sonoco Products stock opened at $55.43 on Friday. Sonoco Products has a 1 year low of $46.55 and a 1 year high of $57.18. The firm has a market cap of $5.53 billion, a PE ratio of 19.87, a price-to-earnings-growth ratio of 3.57 and a beta of 1.08. The company has a quick ratio of 1.07, a current ratio of 1.53 and a debt-to-equity ratio of 0.71.
Sonoco Products (NYSE:SON) last announced its earnings results on Thursday, July 19th. The industrial products company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.07. Sonoco Products had a return on equity of 18.01% and a net margin of 4.57%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period last year, the firm posted $0.71 EPS. The business’s revenue was up 10.1% compared to the same quarter last year. equities analysts expect that Sonoco Products will post 3.34 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Friday, August 10th will be paid a dividend of $0.41 per share. The ex-dividend date is Thursday, August 9th. This represents a $1.64 annualized dividend and a dividend yield of 2.96%. Sonoco Products’s payout ratio is 58.78%.
Sonoco Products Company Profile
Sonoco Products Company manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through four segments: Consumer Packaging, Display and Packaging, Paper and Industrial Converted Products, and Protective Solutions. The Consumer Packaging segment offers composite and thermoformed plastic round and shaped rigid containers and trays; extruded and injection-molded plastic products; printed flexible packaging products; brand artwork management; and metal and peelable membrane ends and closures.
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