Sonoco Products (NYSE:SON) Price Target Raised to $54.00

Sonoco Products (NYSE:SON) had its price target hoisted by Truist Financial from $53.00 to $54.00 in a research report report published on Tuesday morning,Benzinga reports. Truist Financial currently has a buy rating on the industrial products company’s stock.

SON has been the topic of a number of other research reports. UBS Group reduced their price target on Sonoco Products from $50.00 to $46.00 and set a “neutral” rating on the stock in a research report on Monday, October 6th. Citigroup cut their target price on Sonoco Products from $56.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, September 29th. Bank of America raised Sonoco Products from a “neutral” rating to a “buy” rating and increased their target price for the stock from $56.00 to $60.00 in a report on Monday. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $47.00 price target (down previously from $52.00) on shares of Sonoco Products in a research note on Tuesday. Finally, Jefferies Financial Group cut their price objective on shares of Sonoco Products from $61.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, October 24th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $54.57.

Sonoco Products Trading Up 2.6%

SON stock opened at $46.89 on Tuesday. Sonoco Products has a 52 week low of $38.65 and a 52 week high of $50.09. The company has a market capitalization of $4.62 billion, a PE ratio of 7.44, a price-to-earnings-growth ratio of 0.71 and a beta of 0.55. The company’s 50-day simple moving average is $42.15 and its 200 day simple moving average is $43.89. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.58 and a current ratio of 0.92.

Sonoco Products (NYSE:SON) last issued its quarterly earnings data on Wednesday, June 22nd. The industrial products company reported $1.00 earnings per share for the quarter. Sonoco Products had a net margin of 8.82% and a return on equity of 20.49%. The business had revenue of $1.35 billion during the quarter. Sonoco Products has set its FY 2025 guidance at 5.650-5.75 EPS. As a group, sell-side analysts anticipate that Sonoco Products will post 6.1 earnings per share for the current year.

Sonoco Products Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th were given a $0.53 dividend. The ex-dividend date was Monday, November 10th. This represents a $2.12 dividend on an annualized basis and a yield of 4.5%. Sonoco Products’s dividend payout ratio (DPR) is currently 33.65%.

Insider Buying and Selling at Sonoco Products

In related news, Director John R. Haley purchased 2,506 shares of the stock in a transaction dated Tuesday, October 28th. The stock was bought at an average cost of $39.87 per share, for a total transaction of $99,914.22. Following the completion of the acquisition, the director owned 23,310 shares of the company’s stock, valued at approximately $929,369.70. This represents a 12.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Paul Joachimczyk acquired 20,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The shares were purchased at an average cost of $39.50 per share, for a total transaction of $809,750.00. Following the acquisition, the chief financial officer owned 20,500 shares in the company, valued at $809,750. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.74% of the stock is currently owned by corporate insiders.

Institutional Trading of Sonoco Products

Several hedge funds and other institutional investors have recently made changes to their positions in the company. ST Germain D J Co. Inc. acquired a new position in shares of Sonoco Products in the second quarter valued at approximately $26,000. Cornerstone Planning Group LLC bought a new stake in Sonoco Products during the 3rd quarter worth approximately $29,000. TD Waterhouse Canada Inc. bought a new stake in Sonoco Products during the 2nd quarter worth approximately $30,000. True Wealth Design LLC increased its position in Sonoco Products by 172.5% in the 3rd quarter. True Wealth Design LLC now owns 744 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 471 shares during the period. Finally, Ameriflex Group Inc. raised its stake 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 acquiring an additional 834 shares during the last quarter. 77.69% of the stock is currently owned by institutional investors.

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.