Sonoco Products Co (NYSE:SON) has been assigned a consensus rating of “Hold” from the nine research firms that are currently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $57.80.
A number of research firms have recently issued reports on SON. Zacks Investment Research upgraded Sonoco Products from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a report on Tuesday, September 18th. Barclays increased their target price on Sonoco Products from $55.00 to $58.00 and gave the company a “$56.02” rating in a report on Monday, July 23rd. DA Davidson increased their target price on Sonoco Products to $57.00 and gave the company a “neutral” rating in a report on Friday, July 20th. Finally, KeyCorp restated a “hold” rating on shares of Sonoco Products in a report on Thursday, October 18th.
In other news, VP Marcy J. Thompson sold 693 shares of the stock in a transaction on Monday, October 22nd. The stock was sold at an average price of $55.00, for a total value of $38,115.00. Following the completion of the sale, the vice president now owns 15,410 shares in the company, valued at $847,550. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in SON. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new stake in shares of Sonoco Products during the third quarter worth $161,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Sonoco Products during the second quarter worth $183,000. UMB Bank N A MO purchased a new stake in shares of Sonoco Products during the second quarter worth $201,000. Dividend Assets Capital LLC purchased a new stake in shares of Sonoco Products during the second quarter worth $201,000. Finally, Pratt Collard Advisory Partners LLC purchased a new stake in shares of Sonoco Products during the third quarter worth $206,000. Institutional investors and hedge funds own 70.53% of the company’s stock.
Shares of SON traded up $1.06 during trading hours on Thursday, hitting $55.63. 13,415 shares of the company were exchanged, compared to its average volume of 645,743. The firm has a market cap of $5.50 billion, a PE ratio of 20.03, a P/E/G ratio of 3.55 and a beta of 0.98. The company has a quick ratio of 1.19, a current ratio of 1.66 and a debt-to-equity ratio of 0.72. Sonoco Products has a one year low of $46.55 and a one year high of $58.69.
Sonoco Products (NYSE:SON) last released its earnings results on Thursday, October 18th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.06. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.38 billion. Sonoco Products had a return on equity of 18.42% and a net margin of 4.53%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 earnings per share. On average, equities research analysts anticipate that Sonoco Products will post 3.32 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 9th will be issued a $0.41 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.95%. Sonoco Products’s payout ratio is currently 58.78%.
About Sonoco Products
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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