Barclays PLC restated their underweight rating on shares of Sonoco Products Company (NYSE:SON) in a report released on Monday, July 24th. Barclays PLC currently has a $48.00 target price on the industrial products company’s stock, up from their previous target price of $45.00.
Several other equities analysts have also commented on SON. Robert W. Baird raised shares of Sonoco Products from a neutral rating to an outperform rating and upped their price target for the stock from $55.00 to $60.00 in a research report on Wednesday, July 19th. Vertical Research downgraded shares of Sonoco Products from a hold rating to a sell rating in a research note on Friday, July 21st. Zacks Investment Research upgraded shares of Sonoco Products from a hold rating to a buy rating and set a $57.00 price objective for the company in a research note on Thursday, June 22nd. BidaskClub upgraded shares of Sonoco Products from a strong sell rating to a sell rating in a research note on Wednesday, June 14th. Finally, Bank of America Corporation boosted their price objective on shares of Sonoco Products from $55.00 to $56.00 and gave the stock an underperform rating in a research note on Friday, July 21st. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $52.57.
Sonoco Products (NYSE SON) opened at 48.02 on Monday. Sonoco Products has a 52-week low of $47.52 and a 52-week high of $55.58. The stock has a market cap of $4.77 billion, a PE ratio of 18.23 and a beta of 1.12. The company’s 50 day moving average is $50.31 and its 200-day moving average is $51.97.
Sonoco Products (NYSE:SON) last issued its quarterly earnings results on Thursday, July 20th. The industrial products company reported $0.71 EPS for the quarter, hitting the consensus estimate of $0.71. Sonoco Products had a net margin of 5.61% and a return on equity of 16.64%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the business posted $0.73 earnings per share. Sonoco Products’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, equities analysts anticipate that Sonoco Products will post $2.75 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 11th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $1.56 annualized dividend and a dividend yield of 3.25%. Sonoco Products’s dividend payout ratio (DPR) is presently 59.09%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Financial Engines Advisors L.L.C. increased its position in shares of Sonoco Products by 0.4% in the first quarter. Financial Engines Advisors L.L.C. now owns 11,448 shares of the industrial products company’s stock valued at $606,000 after buying an additional 40 shares during the period. National Planning Corp increased its position in shares of Sonoco Products by 0.3% in the second quarter. National Planning Corp now owns 12,647 shares of the industrial products company’s stock valued at $652,000 after buying an additional 42 shares during the period. Global X Management Co. LLC increased its position in shares of Sonoco Products by 1.0% in the first quarter. Global X Management Co. LLC now owns 4,954 shares of the industrial products company’s stock valued at $262,000 after buying an additional 50 shares during the period. World Asset Management Inc increased its position in shares of Sonoco Products by 0.8% in the second quarter. World Asset Management Inc now owns 6,896 shares of the industrial products company’s stock valued at $355,000 after buying an additional 57 shares during the period. Finally, Teacher Retirement System of Texas increased its position in shares of Sonoco Products by 1.0% in the second quarter. Teacher Retirement System of Texas now owns 7,952 shares of the industrial products company’s stock valued at $409,000 after buying an additional 76 shares during the period. Institutional investors and hedge funds own 73.92% of the company’s stock.
Sonoco Products Company Profile
Sonoco Products Company is engaged in manufacturing of industrial and consumer packaging products, and providing packaging services. The Company operates in four segments: Consumer Packaging, Paper and Industrial Converted Products, Display and Packaging, and Protective Solutions. Its Consumer Packaging segment’s products and services include round composite cans, aluminum, steel and peelable membrane easy-open closures for composite and metal cans; plastic bottles, cups and trays, and printed flexible packaging and global brand management.
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