Analysts Set Sonoco Products Company (NYSE:SON) Price Target at $61.33

Sonoco Products Company (NYSE:SON) has received a consensus rating of “Hold” from the twelve analysts that are currently covering the stock, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $61.7778.

SON has been the topic of a number of analyst reports. Argus raised shares of Sonoco Products to a “hold” rating in a report on Monday, April 20th. Wall Street Zen cut Sonoco Products from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Citigroup lifted their price target on Sonoco Products from $63.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Truist Financial raised their target price on Sonoco Products from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Friday. Finally, Robert W. Baird lowered their target price on Sonoco Products from $60.00 to $55.00 and set a “neutral” rating on the stock in a report on Thursday, April 23rd.

Sonoco Products Stock Up 3.5%

Shares of NYSE:SON opened at $58.27 on Wednesday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.54 and a current ratio of 0.99. Sonoco Products has a 1-year low of $38.65 and a 1-year high of $58.62. The company’s fifty day moving average is $52.16 and its two-hundred day moving average is $52.01. The stock has a market capitalization of $5.76 billion, a price-to-earnings ratio of 9.26, a price-to-earnings-growth ratio of 1.22 and a beta of 0.37.

Sonoco Products (NYSE:SON) last released its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.04. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.88 billion. Sonoco Products had a net margin of 8.41% and a return on equity of 16.50%. Sonoco Products’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.37 earnings per share. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. Equities analysts anticipate that Sonoco Products will post 5.82 EPS for the current year.

Sonoco Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Monday, August 10th. Sonoco Products’s payout ratio is presently 21.18%.

Insider Activity at Sonoco Products

In related news, insider James A. Harrell III purchased 6,753 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The stock was acquired at an average price of $50.37 per share, for a total transaction of $340,148.61. Following the transaction, the insider directly owned 10,070 shares of the company’s stock, valued at $507,225.90. This trade represents a 203.59% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.98% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SON. Wasatch Advisors LP grew its position in Sonoco Products by 15.9% during the second quarter. Wasatch Advisors LP now owns 81,167 shares of the industrial products company’s stock valued at $4,574,000 after purchasing an additional 11,130 shares in the last quarter. Evanson Financial LLC purchased a new position in Sonoco Products in the second quarter valued at about $165,000. Hilltop National Bank grew its stake in shares of Sonoco Products by 49.7% in the 2nd quarter. Hilltop National Bank now owns 1,777 shares of the industrial products company’s stock valued at $100,000 after buying an additional 590 shares in the last quarter. Access Investment Management LLC grew its stake in shares of Sonoco Products by 11.5% in the 1st quarter. Access Investment Management LLC now owns 289,855 shares of the industrial products company’s stock valued at $15,678,000 after buying an additional 29,980 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Sonoco Products by 19.0% during the 1st quarter. Bank of America Corp DE now owns 3,312,638 shares of the industrial products company’s stock worth $179,181,000 after purchasing an additional 528,292 shares during the last quarter. 77.69% of the stock is owned by hedge funds and other institutional investors.

About Sonoco Products

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.