Sonoco Products Co (NYSE:SON) shares traded up 2.8% on Wednesday . The stock traded as high as $42.45 and last traded at $43.36, 17,381 shares traded hands during mid-day trading. A decline of 98% from the average session volume of 907,876 shares. The stock had previously closed at $42.18.
A number of research analysts have recently commented on SON shares. Robert W. Baird lowered Sonoco Products from an “outperform” rating to a “neutral” rating and set a $65.00 price target for the company. in a report on Tuesday, January 7th. Wells Fargo & Co lowered their price target on Sonoco Products from $60.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. DA Davidson restated a “neutral” rating on shares of Sonoco Products in a report on Friday, February 14th. KeyCorp reiterated a “hold” rating on shares of Sonoco Products in a report on Thursday, February 13th. Finally, BMO Capital Markets upgraded Sonoco Products from a “market perform” rating to an “outperform” rating in a report on Friday, March 20th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. Sonoco Products currently has an average rating of “Hold” and an average target price of $61.20.
The company has a market capitalization of $4.23 billion, a P/E ratio of 15.33, a P/E/G ratio of 2.62 and a beta of 1.00. The company has a 50 day moving average price of $50.66 and a 200 day moving average price of $56.96. The company has a current ratio of 1.08, a quick ratio of 0.72 and a debt-to-equity ratio of 0.66.
Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Thursday, February 13th. The industrial products company reported $0.75 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.75. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Sonoco Products had a return on equity of 19.51% and a net margin of 5.43%. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.84 EPS. As a group, sell-side analysts forecast that Sonoco Products Co will post 3.57 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 26th were issued a $0.43 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $1.72 annualized dividend and a yield of 3.91%. Sonoco Products’s dividend payout ratio is presently 48.73%.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Bank & Trust Co acquired a new position in Sonoco Products in the 4th quarter valued at $30,000. Verus Capital Partners LLC bought a new stake in Sonoco Products during the 4th quarter worth $43,000. Gradient Investments LLC bought a new stake in Sonoco Products during the 4th quarter worth $49,000. PSI Advisors LLC bought a new stake in Sonoco Products during the 4th quarter worth $88,000. Finally, Retirement Network bought a new stake in Sonoco Products during the 4th quarter worth $98,000. 73.83% of the stock is owned by hedge funds and other institutional investors.
Sonoco Products Company Profile (NYSE:SON)
Sonoco Products Company manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through four segments: Consumer Packaging, Display and Packaging, Paper and Industrial Converted Products, and Protective Solutions. The Consumer Packaging segment offers composite and thermoformed plastic round and shaped rigid containers and trays; extruded and injection-molded plastic products; printed flexible packaging products; brand artwork management; and metal and peelable membrane ends and closures.
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