Brokerages Set Sonoco Products Company (NYSE:SON) PT at $54.86

Sonoco Products Company (NYSE:SON) has been given an average rating of “Hold” by the nine analysts that are covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $54.8571.

A number of research firms have weighed in on SON. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $47.00 price target (down previously from $52.00) on shares of Sonoco Products in a research report on Tuesday, January 6th. Truist Financial boosted their price objective on shares of Sonoco Products from $53.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Bank of America raised shares of Sonoco Products from a “neutral” rating to a “buy” rating and raised their target price for the company from $56.00 to $60.00 in a research report on Monday, January 5th. Raymond James Financial set a $60.00 price target on shares of Sonoco Products in a research report on Monday, January 5th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Sonoco Products in a research note on Wednesday, January 21st.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC boosted its holdings in shares of Sonoco Products by 357.8% in the 3rd quarter. AQR Capital Management LLC now owns 2,117,022 shares of the industrial products company’s stock valued at $90,693,000 after buying an additional 1,654,576 shares during the last quarter. Norges Bank bought a new stake in Sonoco Products during the second quarter worth $53,618,000. Nordea Investment Management AB lifted its stake in Sonoco Products by 70.1% in the second quarter. Nordea Investment Management AB now owns 2,827,569 shares of the industrial products company’s stock valued at $122,914,000 after acquiring an additional 1,164,849 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Sonoco Products by 10,238.5% in the 4th quarter. SG Americas Securities LLC now owns 728,138 shares of the industrial products company’s stock valued at $31,776,000 after acquiring an additional 721,095 shares during the period. Finally, LSV Asset Management grew its position in shares of Sonoco Products by 105.6% in the 3rd quarter. LSV Asset Management now owns 798,800 shares of the industrial products company’s stock valued at $34,420,000 after acquiring an additional 410,200 shares during the period. Institutional investors and hedge funds own 77.69% of the company’s stock.

Sonoco Products Price Performance

SON stock opened at $47.94 on Wednesday. The stock has a 50-day moving average price of $44.64 and a two-hundred day moving average price of $44.20. Sonoco Products has a 1 year low of $38.65 and a 1 year high of $50.09. The stock has a market cap of $4.73 billion, a PE ratio of 7.61, a price-to-earnings-growth ratio of 0.74 and a beta of 0.55. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 1.14.

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.