Sonoco Products (NYSE:SON) Reaches New 12-Month Low at $54.27

Shares of Sonoco Products (NYSE:SON) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $54.27 and last traded at $54.31, with a volume of 134540 shares trading hands. The stock had previously closed at $54.53.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SON. StockNews.com cut Sonoco Products from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 3rd. Citigroup dropped their price objective on shares of Sonoco Products from $64.00 to $60.00 and set a “buy” rating for the company in a report on Monday, July 8th. Wells Fargo & Company cut shares of Sonoco Products from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $54.00 to $52.00 in a research report on Wednesday, August 21st. Finally, Raymond James assumed coverage on Sonoco Products in a research report on Friday, July 19th. They set an “outperform” rating and a $62.00 price objective on the stock. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Sonoco Products has an average rating of “Moderate Buy” and a consensus target price of $58.00.

Sonoco Products Stock Down 0.5 %

The business’s 50 day moving average is $51.71 and its 200-day moving average is $55.46. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.30 and a quick ratio of 0.85. The company has a market cap of $5.33 billion, a PE ratio of 13.77, a P/E/G ratio of 2.13 and a beta of 0.68.

Sonoco Products (NYSE:SON) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.02. The firm had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.69 billion. Sonoco Products had a net margin of 5.57% and a return on equity of 20.10%. The company’s revenue was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.38 earnings per share. As a group, analysts predict that Sonoco Products will post 5.09 EPS for the current year.

Sonoco Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 3.83%. Sonoco Products’s payout ratio is currently 52.53%.

Hedge Funds Weigh In On Sonoco Products

Hedge funds have recently made changes to their positions in the company. Sanctuary Advisors LLC acquired a new stake in Sonoco Products during the 2nd quarter worth $717,000. Brandes Investment Partners LP grew its holdings in shares of Sonoco Products by 35.9% during the second quarter. Brandes Investment Partners LP now owns 9,836 shares of the industrial products company’s stock worth $499,000 after buying an additional 2,600 shares during the last quarter. Quarry LP increased its position in Sonoco Products by 346.7% in the 2nd quarter. Quarry LP now owns 4,440 shares of the industrial products company’s stock valued at $225,000 after acquiring an additional 3,446 shares during the period. William B. Walkup & Associates Inc. purchased a new stake in Sonoco Products during the 2nd quarter valued at approximately $360,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Sonoco Products by 821.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,879 shares of the industrial products company’s stock worth $95,000 after acquiring an additional 1,675 shares during the period. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Sonoco Products Company Profile

Sonoco Products Company, together with its subsidiaries, designs, develops, manufactures, and sells various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates Consumer Packaging and Industrial Paper Packaging segments. The Consumer Packaging segment offers round and shaped rigid paper, steel, and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays and enclosures; and high-barrier flexible packaging products.