Sonoco Products Company (NYSE:SON) Stock Has Consensus Target Price of $60.78 According to Brokerages

Shares of Sonoco Products Company (NYSE:SON) have been assigned an average recommendation of “Hold” from the twelve brokerages that are currently covering the company, MarketBeat reports. Eight investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $59.89.

Several research analysts recently weighed in on SON shares. UBS Group cut their target price on shares of Sonoco Products from $61.00 to $51.00 and set a “neutral” rating for the company in a research note on Monday. Citigroup boosted their price objective on shares of Sonoco Products from $63.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Weiss Ratings downgraded shares of Sonoco Products from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, September 11th. Bank of America cut shares of Sonoco Products from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $69.00 to $60.00 in a research note on Thursday, September 3rd. Finally, Truist Financial increased their price target on Sonoco Products from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, July 24th.

Hedge Funds Weigh In On Sonoco Products

Several institutional investors and hedge funds have recently bought and sold shares of SON. BlackRock Inc. acquired a new position in shares of Sonoco Products in the 2nd quarter valued at $657,016,000. Dimensional Fund Advisors LP increased its holdings in shares of Sonoco Products by 0.8% during the 1st 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 last quarter. Bank of America Corp DE acquired a new stake in shares of Sonoco Products during the 2nd quarter worth $204,968,000. Geode Capital Management LLC raised its position in shares of Sonoco Products by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 1,829,794 shares of the industrial products company’s stock worth $79,869,000 after buying an additional 53,540 shares during the period. Finally, Sei Investments Co. raised its position in shares of Sonoco Products by 4.6% in the 1st quarter. Sei Investments Co. now owns 1,497,108 shares of the industrial products company’s stock worth $80,979,000 after buying an additional 66,483 shares during the period. Institutional investors and hedge funds own 77.69% of the company’s stock.

Sonoco Products Price Performance

Shares of NYSE:SON opened at $47.90 on Monday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.55 and a current ratio of 0.99. The business’s fifty day moving average price is $53.32 and its two-hundred day moving average price is $52.85. The stock has a market cap of $4.74 billion, a PE ratio of 7.61, a price-to-earnings-growth ratio of 1.20 and a beta of 0.35. Sonoco Products has a one year low of $38.65 and a one year high of $60.67.

Sonoco Products (NYSE:SON) last released its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.04. Sonoco Products had a return on equity of 16.50% and a net margin of 8.41%.The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the previous year, the firm posted $1.37 earnings per share. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. On average, analysts forecast that Sonoco Products will post 5.75 EPS for the current fiscal year.

Sonoco Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Monday, August 10th were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Monday, August 10th. Sonoco Products’s dividend payout ratio is presently 34.34%.

About Sonoco Products

Sonoco Products Company (NYSE:SON) is a global packaging company headquartered in Hartsville, South Carolina. Founded in 1899 as the Southern Novelty Company, Sonoco has developed into a diversified provider of packaging products and services for consumer and industrial markets.

The company produces consumer packaging such as rigid paper and plastic containers, metal cans, flexible packaging, thermoformed packaging, closures, and packaging displays. Its industrial packaging activities include paper tubes and cores, protective packaging, molded foam products, pallets, and other materials used to protect, store, and transport goods.