Jefferies Group LLC reaffirmed their hold rating on shares of Sonoco Products Company (NYSE:SON) in a research note released on Thursday morning. Jefferies Group LLC currently has a $48.00 price target on the industrial products company’s stock.
Other equities analysts have also issued reports about the stock. BidaskClub raised shares of Sonoco Products from a strong sell rating to a sell rating in a research report on Wednesday, June 14th. Barclays PLC reissued an underweight rating and issued a $48.00 price objective (up from $45.00) on shares of Sonoco Products in a research report on Monday, July 24th. Zacks Investment Research lowered shares of Sonoco Products from a buy rating to a hold rating in a research report on Wednesday, June 21st. Robert W. Baird raised shares of Sonoco Products from a neutral rating to an outperform rating and increased their price objective for the company from $55.00 to $60.00 in a research report on Wednesday, July 19th. Finally, Bank of America Corporation upgraded shares of Sonoco Products from an underperform rating to a buy rating and set a $56.00 price target on the stock in a research note on Wednesday. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $52.57.
Sonoco Products (NYSE SON) traded up 0.02% during mid-day trading on Thursday, reaching $48.70. 760,349 shares of the company’s stock traded hands. The firm has a 50 day moving average of $48.53 and a 200 day moving average of $51.16. The firm has a market cap of $4.84 billion, a PE ratio of 18.49 and a beta of 1.12. Sonoco Products has a 1-year low of $47.10 and a 1-year high of $55.58.
Sonoco Products (NYSE:SON) last issued its quarterly earnings data on Thursday, July 20th. The industrial products company reported $0.71 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.71. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. Sonoco Products had a net margin of 5.61% and a return on equity of 16.64%. The company’s revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.73 earnings per share. Analysts forecast that Sonoco Products will post $2.75 EPS for the current year.
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The firm also recently declared a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 11th were paid a $0.39 dividend. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $1.56 annualized dividend and a dividend yield of 3.20%. Sonoco Products’s dividend payout ratio (DPR) is presently 59.09%.
Hedge funds have recently added to or reduced their stakes in the stock. United Services Automobile Association grew its stake in shares of Sonoco Products by 109.6% in the first quarter. United Services Automobile Association now owns 18,360 shares of the industrial products company’s stock valued at $972,000 after acquiring an additional 9,600 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in Sonoco Products by 7.0% during the first quarter. Ameritas Investment Partners Inc. now owns 38,856 shares of the industrial products company’s stock worth $2,056,000 after buying an additional 2,549 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Sonoco Products by 2,582.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 24,085 shares of the industrial products company’s stock worth $1,275,000 after buying an additional 23,187 shares in the last quarter. Commerce Bank grew its stake in Sonoco Products by 3.4% during the second quarter. Commerce Bank now owns 75,530 shares of the industrial products company’s stock worth $3,884,000 after buying an additional 2,493 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Sonoco Products by 8.4% during the first quarter. Russell Investments Group Ltd. now owns 96,899 shares of the industrial products company’s stock worth $5,128,000 after buying an additional 7,478 shares in the last quarter. Institutional investors and hedge funds own 72.57% 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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