Sonoco Products (NYSE:SON) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen downgraded shares of Sonoco Products (NYSE:SON) from a buy rating to a hold rating in a report released on Saturday morning.

A number of other brokerages have also issued reports on SON. Raymond James Financial reissued a “market perform” rating on shares of Sonoco Products in a research note on Friday, March 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Sonoco Products in a research note on Wednesday, January 21st. Bank of America reissued a “buy” rating on shares of Sonoco Products in a research note on Wednesday, April 22nd. Citigroup decreased their target price on shares of Sonoco Products from $70.00 to $63.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Finally, Argus raised shares of Sonoco Products to a “hold” rating in a research note on Monday, April 20th. Five equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $60.11.

Sonoco Products Trading Up 0.3%

Sonoco Products stock opened at $50.10 on Friday. The firm has a 50 day simple moving average of $53.80 and a 200-day simple moving average of $47.71. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.96 and a quick ratio of 0.54. The stock has a market capitalization of $4.95 billion, a PE ratio of 4.91, a price-to-earnings-growth ratio of 1.05 and a beta of 0.40. Sonoco Products has a 12-month low of $38.65 and a 12-month high of $58.44.

Sonoco Products (NYSE:SON) last posted its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.37). The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.88 billion. Sonoco Products had a return on equity of 16.50% and a net margin of 13.57%.The company’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.38 EPS. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. As a group, equities research analysts expect that Sonoco Products will post 5.81 EPS for the current fiscal year.

Sonoco Products Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th will be issued a dividend of $0.54 per share. The ex-dividend date is Friday, May 8th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.3%. This is an increase from Sonoco Products’s previous quarterly dividend of $0.53. Sonoco Products’s payout ratio is 20.78%.

Insider Activity

In other Sonoco Products news, insider James A. Harrell III purchased 6,753 shares of the business’s stock in a transaction dated Monday, April 27th. The shares were acquired at an average price of $50.37 per share, for a total transaction of $340,148.61. Following the acquisition, the insider owned 10,070 shares of the company’s stock, valued at $507,225.90. This trade represents a 203.59% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Ernest D. Haynes III sold 1,581 shares of the firm’s stock in a transaction 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 transaction, the insider owned 9,377 shares in the company, valued at $528,769.03. This represents a 14.43% decrease in their position. The SEC filing for this sale provides additional information. 0.98% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Sonoco Products by 477.8% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,901,950 shares of the industrial products company’s stock valued at $257,561,000 after purchasing an additional 4,880,438 shares in the last quarter. State Street Corp raised its holdings in shares of Sonoco Products by 0.3% during the 2nd quarter. State Street Corp now owns 4,470,449 shares of the industrial products company’s stock valued at $194,733,000 after purchasing an additional 13,161 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Sonoco Products by 4.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,898,370 shares of the industrial products company’s stock valued at $170,126,000 after purchasing an additional 176,949 shares in the last quarter. Bank of America Corp DE raised its holdings in Sonoco Products by 6.1% in the 2nd quarter. Bank of America Corp DE now owns 2,804,621 shares of the industrial products company’s stock worth $122,169,000 after acquiring an additional 162,262 shares during the period. Finally, Earnest Partners LLC raised its holdings in Sonoco Products by 1.2% in the 3rd quarter. Earnest Partners LLC now owns 2,678,122 shares of the industrial products company’s stock worth $115,400,000 after acquiring an additional 31,932 shares during the period. Institutional investors own 77.69% of the company’s stock.

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.