Robert W. Baird Cuts Sonoco Products (NYSE:SON) Price Target to $55.00

Sonoco Products (NYSE:SON) had its price objective cut by equities research analysts at Robert W. Baird from $60.00 to $55.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. Robert W. Baird’s price target would suggest a potential upside of 15.31% from the company’s current price.

A number of other research analysts have also recently issued reports on the company. Zacks Research raised Sonoco Products from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. Raymond James Financial reiterated a “market perform” rating on shares of Sonoco Products in a report on Friday, March 6th. Argus upgraded shares of Sonoco Products to a “hold” rating in a report on Monday. Wall Street Zen upgraded shares of Sonoco Products from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Finally, Truist Financial dropped their target price on shares of Sonoco Products from $69.00 to $68.00 and set a “buy” rating for the company in a report on Wednesday, April 15th. Five investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $61.22.

Sonoco Products Stock Down 16.0%

Shares of NYSE:SON opened at $47.70 on Thursday. The stock’s 50-day moving average price is $54.36 and its 200-day moving average price is $47.36. Sonoco Products has a 12-month low of $38.65 and a 12-month high of $58.44. The stock has a market capitalization of $4.72 billion, a P/E ratio of 4.68, a price-to-earnings-growth ratio of 1.14 and a beta of 0.50. The company has a current ratio of 1.05, a quick ratio of 0.60 and a debt-to-equity ratio of 1.04.

Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.37). Sonoco Products had a net margin of 13.57% and a return on equity of 16.72%. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the business posted $1.38 earnings per share. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. On average, equities analysts anticipate that Sonoco Products will post 5.92 earnings per share for the current year.

Insider Activity

In other news, insider Ernest D. Haynes III sold 1,581 shares of Sonoco Products stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $56.39, for a total transaction of $89,152.59. Following the completion of the transaction, the insider directly owned 9,377 shares in the company, valued at approximately $528,769.03. This trade represents a 14.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.98% of the company’s stock.

Hedge Funds Weigh In On Sonoco Products

Large investors have recently made changes to their positions in the business. SBI Securities Co. Ltd. lifted its holdings in shares of Sonoco Products by 77.7% during the fourth quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 258 shares during the last quarter. Cornerstone Planning Group LLC purchased a new position in shares of Sonoco Products during the third quarter valued at approximately $29,000. LRI Investments LLC purchased a new position in shares of Sonoco Products during the fourth quarter valued at approximately $29,000. True Wealth Design LLC lifted its holdings in shares of Sonoco Products by 172.5% during the third quarter. True Wealth Design LLC now owns 744 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 471 shares during the last quarter. Finally, Ameriflex Group Inc. lifted its holdings in shares of Sonoco Products by 1,263.6% during the third quarter. Ameriflex Group Inc. now owns 900 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 834 shares during the last quarter. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Sonoco Products Company Profile

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.