Sonoco Products Company (NYSE:SON) Receives $60.11 Consensus PT from Analysts

Shares of Sonoco Products Company (NYSE:SON) have earned an average recommendation of “Hold” from the twelve brokerages that are presently covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $60.1111.

Several brokerages have recently weighed in on SON. Citigroup decreased their price objective on Sonoco Products from $70.00 to $63.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Raymond James Financial reissued a “market perform” rating on shares of Sonoco Products in a research note on Friday, March 6th. Truist Financial reissued a “buy” rating and issued a $65.00 price objective (down from $68.00) on shares of Sonoco Products in a research note on Tuesday, April 28th. Wells Fargo & Company cut their price target on Sonoco Products from $60.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Friday, March 20th. Finally, Robert W. Baird cut their price target on Sonoco Products from $60.00 to $55.00 and set a “neutral” rating on the stock in a research note on Thursday, April 23rd.

Sonoco Products Stock Down 1.4%

SON opened at $50.37 on Friday. The business has a 50-day moving average of $53.18 and a 200-day moving average of $48.22. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.96 and a quick ratio of 0.54. Sonoco Products has a fifty-two week low of $38.65 and a fifty-two week high of $58.44. The company has a market capitalization of $4.98 billion, a PE ratio of 4.94, a price-to-earnings-growth ratio of 1.07 and a beta of 0.40.

Sonoco Products (NYSE:SON) last issued its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $1.20 earnings per share 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 16.50%. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the business posted $1.38 earnings per share. The firm’s revenue was down 1.9% on a year-over-year basis. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. Equities research analysts forecast 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. Shareholders of record on Friday, May 8th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 4.3%. This is an increase from Sonoco Products’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, May 8th. Sonoco Products’s dividend payout ratio is currently 21.18%.

Insiders Place Their Bets

In other Sonoco Products news, insider Ernest D. Haynes III sold 1,581 shares of the stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $56.39, for a total value of $89,152.59. Following the completion of the sale, the insider directly owned 9,377 shares in the company, valued at $528,769.03. This represents a 14.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James A. Harrell III acquired 6,753 shares of Sonoco Products stock in a transaction dated Monday, April 27th. The shares were purchased at an average cost of $50.37 per share, with a total value of $340,148.61. Following the completion of 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 ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.98% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its position in shares of Sonoco Products by 3.3% during the first quarter. PNC Financial Services Group Inc. now owns 9,840 shares of the industrial products company’s stock worth $532,000 after buying an additional 314 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Sonoco Products by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 3,931,180 shares of the industrial products company’s stock worth $212,632,000 after buying an additional 32,810 shares during the period. Parallel Advisors LLC boosted its position in shares of Sonoco Products by 34.7% during the first quarter. Parallel Advisors LLC now owns 1,778 shares of the industrial products company’s stock worth $96,000 after buying an additional 458 shares during the period. KBC Group NV boosted its position in shares of Sonoco Products by 2,238.0% during the first quarter. KBC Group NV now owns 63,453 shares of the industrial products company’s stock worth $3,432,000 after buying an additional 60,739 shares during the period. Finally, Swiss National Bank boosted its position in shares of Sonoco Products by 0.4% during the first quarter. Swiss National Bank now owns 195,200 shares of the industrial products company’s stock worth $10,558,000 after buying an additional 800 shares during the period. 77.69% of the stock is owned by institutional investors and hedge funds.

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.